Finance has published a new Finance Hot Topics page on our website. Hot Topics provides information for students about payment due dates, financial aid fee deferrals and enrollment cancellation. The aim of Finance Hot Topics is to highlight important information and practices as a reference for campus departments when working with finance related subjects such as student fees, department revenues/funds and risk management.
Check out Finance Hot Topics and please contact FinanceConnect at (408) 924-1558 if you have any questions.
Online Financial Compliance Survey
In October, the CFO launched an online financial compliance survey. The survey was sent to all employees who submit requests for financial transactions or who have approval for financial transactions.
SJSU is a large decentralized corporation. Authority and responsibility for financial expenditures rests with a large number of employees. To complicate matters more, the financial environment is very complex with numerous types of funds, managed by the campus and five auxiliaries.
A recent audit of the Justice Studies department identified instances where SJSU's business policies and procedures were not being followed and led to losses in financial resources. As a result, we are asking for assistance. A summary of the areas of concern are provided below.
Unauthorized bank accounts
All university funds must be deposited directly into approved bank accounts. An unauthorized bank account is any account not authorized by the CFO or a Board of an Auxiliary. There have been instances where a bank account was set up years ago, prior to new CSU policies. These accounts must be moved to the university. Notify Josee Larochelle, AVP for Finance, if you have any questions or to report an off-campus bank account.
Collection of Funds
All monies collected for university business must be deposited into a university account (at the Bursar's Office, Research Foundation or Tower Foundation). Student organizations can deposit funds with Associated Students.
All financial irregularities (loss of funds or properties, theft, fraud and embezzlement) must be reported to university authorities. Loss of funds must be reported to campus Finance. Notify Josee Larochelle, AVP for Finance, if you have any questions or to report an irregularity. Loss of campus property must be reported to UPD or the Property Coordinator, at (408) 924-1565.