University Policy: 03-100 Fiscal Policy Program Authority
Policy Category:
Business and Finance
Responsible Office:
Controller's Office
Responsible Executive:
Vice President for Finance and Administration
Effective Date:
07/02/2018
1. Policy Statement

1.1. The Oregon State University (university) Board of Trustees (Board) delegates to the President of the university or his/her designee the authority to undertake all lawful activities to further the operation of the university, with the exception of the activities reserved to the Board as specified in the Board’s resolution delegating authority to the university.  The President delegates general supervision of fiscal and administrative activities, including authority over fiscal policy and any associated rules, to the Vice President for Finance and Administration (VPFA).  The VPFA further delegates to the Controller’s Office authority over the university’s Fiscal Policy Program, which includes development, maintenance and execution of policy and rules in all areas of fiscal activity applicable to the university as a whole.

2. Reason for Policy

2.1. The university operates under a broad spectrum of policies, regulations, laws, and other local, state and federal government requirements.  The purpose of this policy is to outline the authority over the Fiscal Policy Program, in order to facilitate compliance with these requirements.  The Controller’s Office is the central coordinating unit for university financial transactions and compliance.  The Fiscal Policy Manual is the official university record for these rules as they apply to operating units.  The university seeks to ensure that all fiscal policies and associated rules are formally approved, promulgated in a consistent format, maintained centrally and complied across all university units.

3. Scope & Audience

3.1. This university policy is applicable to all members of the university community, including but not limited to faculty, staff, contractors, volunteers and students.

3.2. Fiscal activities associated with the university are governed by and must comply with the University Policy and Standards Manual (UPSM), the Fiscal Policy Manual or any applicable Board Policy.  All individuals with fiscal responsibilities shall be knowledgeable about this policy.

4. Definitions

4.1. Fiscal Activities:  All activities under the purview of the Controller’s Office (Business Affairs; Financial Accounting and Analysis; Procurement, Contracting and Materials Management-PCMM; Business Centers; and Treasury), including but not limited to the following:

  • Revenue and Receivables;
  • Payroll;
  • Procurement and Contracting;
  • Vendor and Employee Payments (including reimbursements and travel);
  • Financial Accounting;
  • Asset Accounting;
  • Investment Accounting; and
  • University Fee Book (excluding tuition and mandatory fee policy reserved for the Board).

4.2. Fiscal Policy Manual:  The official university reference for all fiscal rules as they apply to financial transactions conducted by university operating units.

4.3. Fiscal Policy Program:  The program administered by the Controller’s office tasked with the development and maintenance of the university’s fiscal policies and associated rules, guided by the core values of accessibility, clarity, customer service, internal control and stewardship of resources, as well as the Division of Finance and Administration’s mission of providing “leadership, innovative services, creative solutions, and integrated systems… through collaborative stewardship of human and financial resources within an environment of transparency and exemplary service.

5. Responsibilities & Procedures

5.1. General

5.1.1. Authorized representatives of the Board, the Office of the President or the Division of Finance and Administration are the only entities authorized to implement rules pertaining to any type of fiscal activity.  Individual units across the university may implement operating procedures to provide greater detail of how a fiscal rule pertains to, and will be applied to that unit’s fiscal activities.  Any unit-level operating procedures must be consistent with fiscal rules, as well as university policies and standards.

5.2. Vice President for Finance and Administration

5.2.1. VPFA serves as the responsible executive, per University Standard 04-001, for all university policies or standards relating to fiscal activities, delegating oversight of the fiscal policy program to the Controller’s Office.

5.2.2. VPFA establishes the Fiscal Policy Committee.

5.2.3. VPFA identifies approves and/or endorses the need for a new fiscal policy or associated rule or a revision to an existing fiscal policy or associated rule.

5.3. Controller’s Office

5.3.1. The Controller provides oversight of the fiscal policy program including development and maintenance of the Fiscal Policy Manual, as well as execution and enforcement of relevant university policies or standards and associated fiscal rules.

5.3.2. The Controller’s Office supports these functions.

5.4. Fiscal Policy Committee (committee)

5.4.1. Committee members are appointed by the VPFA from specific areas of the university as described in the Fiscal Policy Committee Charter, which can be found on the Fiscal Policy Program website.

5.4.2. The committee supports the development and maintenance of university policies or standards relating to fiscal activities, in accordance with University Standard 04-001, and associated fiscal rules that serve to operationalize these policies.

5.4.3. The committee provides guidance and recommendations to the VPFA and the Controller to ensure fiscal rules are consistent with university policies and standards, as well as the Division of Finance and Administration’s strategic plan.

5.4.4. The committee implements effective and efficient processes that incorporate campus feedback, solicit buy-in, facilitate the creation and revision of university policies, standards and rules relating to fiscal activities, and provides resources related to fiscal compliance.

5.4.5. The committee ensures open and transparent communication within the university and facilitates participation in fiscal activities.

5.5. Fiscal Policy Officer (FPO)

5.5.1. The FPO serves as Chair of the committee.

5.5.2. The FPO manages the fiscal policy program and coordinates all related administrative actions.

5.5.3. The FPO develops and manages an institution-wide compliance and training program for the fiscal policy program.

5.5.4. The FPO serves as a resource for the university community on fiscal activities including relevant university policies, standards, associated fiscal rules and policy interpretations.

5.6. Fiscal Policy Coordinators (coordinators)

5.6.1. Coordinators are designated by Business Centers and other units from existing staff as described in the Fiscal Policy Coordinator Assignment, which can be found on the Fiscal Policy Program website.  A full list of coordinators assigned to each unit can also be found on the website.

5.6.2. Coordinators serve as a liaison between individuals, who request to modify or create university policies relating to fiscal activities or associated fiscal rules, and the FPO.

5.6.3. Coordinators review and submit fiscal policy proposals to the FPO for processing.

5.6.4. Coordinators work with the FPO and Fiscal Policy Stewards to roll out and communicate the release of new or revised policies and associated rules.

5.7. Fiscal Policy Stewards (stewards)

5.7.1. A steward is assigned and listed on each fiscal rule based on their job duties at the university.

5.7.2. Stewards serve as the content experts to support the development and maintenance of relevant university policies or standards and associated fiscal rules by providing guidance and making recommendations to the committee.

5.7.3. Stewards may serve the same role as a coordinator when necessary.

5.7.4. Stewards work with the FPO and coordinators to raise awareness and answer questions, as necessary.

5.7.5. Stewards respond to requests for policy interpretations.

5.7.6. Stewards disseminate, in conjunction with the FPO and coordinators, new or revised university policies and standards relating to fiscal activities and associated fiscal rules.

6. Forms & Tools

6.1. None.

7. Frequently Asked Questions

7.1. Fiscal Policy Program Frequently Asked Questions (FAQs)

8. Related Information

8.1. The university standard for Board’s Financial Powers further defines the delegation and assignment of responsibility for the university.

8.2. Fiscal Policy Program definitions of terminology:  http://fa.oregonstate.edu/fiscal-program/definitions

9. History

9.1. Original Issue Date: July 2, 2018

9.2. Last review date:  July 2, 2018

9.3. Next scheduled review date:  July, 2021.

10. Website

10.1. University Policy 03-100 Fiscal Policy Program Authority:  http://policy.oregonstate.edu/UPSM/03-100_fiscal_policy_authority

10.2. Fiscal Policy Program:  http://fa.oregonstate.edu/fiscal-program (site is currently under development, please refer to the FIS Policy Manual: http://fa.oregonstate.edu/fis-manual)

11. Contacts

Controller’s Office

541-737-4605

Jan.Lewis@oregonstate.edu

http://fa.oregonstate.edu/business-affairs

Fiscal Policy Officer

541-737-1197

Cindy.Draper@oregonstate.edu

Fiscal Policy Committee

Fiscal.policy@oregonstate.edu