Internal Control Activity Assessment

Internal controls have been developed for department specific operations.

  • University Policy 3010 Internal Controls:Ìý/about/policiesandprocedures/university/3000/3010

  • University Auditor Website - Internal Controls:Ìý/about/compliance/internal-auditing/internal-controls

    • Internal controls are the methods and procedures used to provide reasonable assurance that the organization's objectives and goals will be met.

    • Examples:

      • Authorized signatures should be on all purchase orders, travel vouchers, key request forms, etc.; validation that the person signing the form is an authorized signee for the department.

      • Segregation of duties - The petty cash custodian maintains funds and submits receipts for reimbursement; the review of receipts and approval of reimbursement is performed by someone other than the custodian; receipting, recording, and reconciliation of funds should not be under the complete control of one individual.

Fixed assets are properly secured and inventoried.

  • University Policy 3400 Fixed Asset Control:Ìý/about/policiesandprocedures/university/3000/3400

  • It is the responsibility of Budget Unit Directors to maintain oversight, accountability and safeguarding of capitalized and ETF equipment that is assigned to them. When a Budget Unit Director does not exercise due care and maintain custody of the asset, then the budget may be charged up to the lesser of the current un-depreciated value or the replacement cost of the asset.

  • Departments must report lost, stolen or vandalized equipment to the ¹ÏÉñÍø Police Department and forward a copy of the police report to the General Accounting Office.

Records are disposed of once the applicable retention schedule has been met.

Records are disposed of once the applicable retention schedule has been met.

  • University Policy 3700 Records Management Policy:Ìý/about/policiesandprocedures/university/3000/3700

    • Each department should appoint a Department Records Coordinator.

    • Destroy University records once the retention period has expired. A Certificate of Records Destruction (RM3) Form should be submitted and approved by the University Records Manager as required by the Virginia Public Records Act before destruction. Reference copies and transitory information do not require the submittal of an RM-3 form prior to disposal.

  • Records Management Website - Records Retention and Disposition Schedules:Ìý/about/compliance/records/destruction-of-public-records/records-retention-disposition-schedules

  • Contact Mark Walsh, University Records Manager, with questions.

Employees submit Web Time Entry information for each pay period and approvers validate the information prior to the due dates.

  • Payroll Procedures:Ìý/facultystaff/employee-services/compensation/payroll/web-time-entry/types

  • In order for employees to be paid each pay period, it is critical that timesheets be submitted and approved by the published deadlines. Approvers (or proxies) are required to approve timesheets EACH pay period by the approval deadline. When an employee submits a web timesheet to an approver, the employee is certifying that the hours worked are a true and accurate record of their time.

Employees submit Web Time Entry information for each pay period and approvers validate the information prior to the due dates.

  • Payroll Procedures:Ìý/facultystaff/employee-services/compensation/payroll/web-time-entry/types

  • In order for employees to be paid each pay period, it is critical that timesheets be submitted and approved by the published deadlines. Approvers (or proxies) are required to approve timesheets EACH pay period by the approval deadline. When an employee submits a web timesheet to an approver, the employee is certifying that the hours worked are a true and accurate record of their time.

Banner budget accounts are reconciled.

  • University Policy 3001 Responsibility of Budget Unit Directors on Use of Funds (Expenditures):Ìý/about/policiesandprocedures/university/3000/3001

  • Budget Unit Directors are responsible and accountable for all budgetary and fiscal matters pertaining to their respective department/college or unit. Reconciling budgets in Banner is the best way to find errors and discrepancies. Reconciliations also help departments manage their budgets and defend against overspending.

Original receipts are always retained by purchase card holders.

Emergency Plans are complete and updated annually.

  • University Policy 1021 Emergency Management Policy:Ìý/about/policiesandprocedures/university/1000/1021

  • All University buildings are required to maintain a current, all-hazards Building Emergency Action Plan (EAP). The BEAP serves as the written framework for facilitating individual or departmental emergency response actions during all-hazards incidents/emergencies/events.
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  • University units with essential program functions (i.e., those units designated as fulfilling the Mission Essential Function and/or Primary Business Functions within the University Continuity Plan) are required to maintain a current Departmental/Unit Continuity Plan. The Continuity Plan identifies departmental mission-essential functions and details the primary business functions and resources (e.g., facilities, human capital, and IT) needed to perform these functions when normal operations are disrupted. Department heads will designate a point of contact to work with OEM to annually complete/update their Continuity Plan. As a best practice, all other University departments/units are encouraged to develop a Departmental/Unit Continuity Plan with OEM support.

Employees seek permission for outside employment or consulting.

Written policies and procedures match actual day-to-day procedures.

  • Department best practices require written procedures and actual procedures match. This ensures smooths turnovers for new employees and awareness of department's approved procedures.

We are fully aware of data owner and system owner responsibilities for information technology that we own, operate or contract for.

  • University Policy 3504 Data Administration Policy:Ìý/about/policiesandprocedures/university/3000/3504

  • The roles of system owners and data owners is described in Information technology Standard 01.2.0 IT Security Roles and Responsibilities:Ìý/about/policiesandprocedures/computing/standards/01/02

  • System owners in collaboration with the data owner will conduct a System Risk Assessment in accordance with Information Technology Standard 08.1.0 - Risk Assessment Standard for all new and hosted systems that maintain sensitive data. The completed System Risk Assessment will be forwarded to the Information Security Officer.

Employees submit documentation for travel reimbursement through Chrome River timely and original source documentation is retained within the department for three years. International travel is approved prior to the trip occurring.

  • For a list of all travel guidelines:Ìý/facultystaff/university-business/travel/guidelines

  • Some common errors with travel reimbursements:

    • Failure to attach a cost analysis for personal vehicle usage for daily mileage at 200 miles or more.

    • No supporting bills, receipts, invoices - be sure to provide a zerobalance hotel bill. The payment method is required for items that can be procured with the Small Purchasing Charge Card - Pcard.

    • Justification not recorded on Expense Report for what appear to be excessive lodging and/or meal expenses - REQUIRED - must be approved by the Budget Unit Director or Assistant Vice President for Finance/University Controller.

Report sent to the Budget Unit Director from Payroll each pay period is reviewed to verify that only current employees are being paid. If errors are found, department should contract Payroll and Human Resources.

  • The following link contains a training handbook for Payroll topics:Ìý/content/dam/odu/offices/finance-office/docs/payroll-training.pdf

  • Departments should develop a mechanism for monitoring and tracking wages throughout the year. The Budget Office monitors the wage employee dollars as they are spent and will contact you if you exceed budgeted amounts.

  • Banner is the official record of payroll expenditures, but the information could be incomplete if there are interface problems. Payroll expenditures should be reconciled each month. Hard-copy Banner payroll reports are no longer distributed each month. Payroll reports are available via ePrint for those with the appropriate access.

Supervisors formally evaluate employees at least on an annual basis.

  • Supervisors are required to complete performance evaluations between August 10 and October 24 of the performance year.

  • PAPERS is the official University system used for evaluations. See link for guidance on creating classified employees annual reviews:Ìý/content/dam/odu/offices/human-resources/docs/PAPERS7-class-annual-evaluation.pdf

  • Virginia Department of Human Resource Management Policy Number 1.40 Performance Planning and Evaluation also has guidelines on employee reviews:Ìý

Contract administrators are aware of their responsibilities and document all deliverables have been met by the vendor.

  • ¹ÏÉñÍø Procurement Services' Contract Administration Policy outlines the requirements for each administrator:Ìý/content/dam/odu/offices/procurement-services/docs/contractadmin-guideline-01262015.pdf

  • The contract administrator should generally be the end user of the contract or one who has a vested interest in the procurement and who will be responsible for the proper adherence to all contract specifications by the contractor.

  • At a minimum, the contract administrator shall be responsible for ensuring that:

    • the review and approval of any and all invoices submitted for payment by the Contractor for any and all services related to the performance of the contract,

    • the contract in use is valid as related to the contract term dates and renewal clauses, when applicable,

    • the Contractor is providing timely goods and/or services in accordance with the contract requirements,

    • the contract file is complete, and

    • the contract renewal surveys are completed, and either the contract is renewed, specifications are provided to Procurement Services in a timely manner to allow for re-solicitation to avoid interruption of services, or the services are deemed no longer necessary.

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