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)
*Non Sponsor funds only