General Accounting and Reporting

General Accounting and Reporting section within Financial Services is charged with the responsibility of:

• Preparation of OUHSC accrual based financial statements which are annually subject to audit by an external certified public accounting firm
• Oversee and coordinate the OUHSC annual external audit
• Preparation of quarterly accural basis financial reports for presentation to the OU Board of Regents
• Multiple other financial reports and surveys
• Tracking and reporting of endowed chair budgets, expenditures, and reimbursements
• Tracking of petty cash and change funds across campus
• Calculation of the annual OUHSC fringe benefit rate and reconciliation of the fringe benefit pool
• Calculation of the OUHSC Indirect Cost Rate (F&A) for sponsored programs
• Annual cash sweep of cash in clinical CLNSP funds at December 31 each year
• Continual research and evaluation of financial information within PeopleSoft, in an attempt to ensure accurate information is maintained – resulting in financial reporting that is as accurate as possible
• Budgetary changes (increases, decreases, transfers)
• ECAVs (Application to Establish Chartfield Attribute Value)*
• Departmental cost transfers*
• Journals (Payroll, Fringe Benefits, ProCard, Tax)
• Maintenance of the University's general ledger system
• Transfer and reconciliation of University funds (Office of State Finance)