Section V: COC Resources
3.10.4 The institution exercises appropriate control over all its financial and physical resources.
JUDGMENT OF COMPLIANCE
NARRATIVE/JUSTIFICATION FOR JUDGMENT OF COMPLIANCE
The University exercises appropriate control over all its financial and physical resources.Financial Resource Control
The University is a member of The Texas A&M University System. Member institutions follow policies implemented by The Texas A&M University System Board of Regents . All University procedures must be in accordance with The Texas A&M University System Policy Manual.
The University uses the Financial and Accounting Management Information System (FAMIS) administered by The Texas A&M University System as the primary accounting system for the University. FAMIS includes three components: Financial Records System (FRS), Fixed Assets (FFX), and Annual Financial Reporting (AFR). Security is assured by stringent control of access in accordance with The Texas A&M University System Policy, 21.01.06, Electronic Information Services Access and Security.
The FRS contains the Financial Accounting module for financial transactions relating to revenues, expenses, and journal entries; Accounts Payable transactions relating to vendor payment including preparation of checks and files for State of Texas warrants; Accounts Receivable transactions related to billing and payment for goods or services rendered; Purchasing transactions related to ordering, receipt, and initiation of payment of goods and services; and Payroll Distribution processes related to the distribution of payroll expenses of the University. The FRS system calculates the balances in each account and has controls to prevent the over expenditure of funds. All accounts are available electronically, allowing appropriate departmental personnel real-time access to the budgetary status of their accounts. Monthly reports are also distributed to each responsible person summarizing the activities and status of each account at the end of the month.
The University also uses the SunGard SCT Plus Student Information System (SIS) to maintain student records from Office of Admissions, University Registrar, Office of Financial Aid, and Business Office. The Business Office module allows for the calculation and receipting of a student’s tuition and fees. The information collected from SIS is uploaded to FAMIS.
The Budget Preparation module relates to the preparation of the annual
budget to be presented to The Texas A&M University System Board
of Regents. The budgetary control system incorporates budgets, encumbrances,
revenues and expenditures. The Budget Office prepares a balanced budget
each year which is approved by the University President.
The budget is prepared with guidelines provided by The Texas A&M
University System and University
budget instructions in accordance with System policies.(The
Texas A&M University System Policy 27.03: Annual Operating Budget
Texas A&M University System Policy 27.04: Budget Authorizations,
Limitations, and Delegations of Authority provides definitions,
authorizations, limitations, delegations of authority, and reporting
requirements with respect to the Annual
Operating Budget as approved by The
Texas A&M University Board of Regents. The
and adjustments are recommended periodically to the Vice President for
Finance and Administration (VPFA). The Comptroller and Budget Director
a financial status report to the University President and VPFA .
The Fixed Assets module (FFX) maintains records of the University’s
land, buildings, furniture and equipment. Information contained in the
FFX is received from the FRS module and/or The Texas A&M University
System for construction projects. Physical inventory counts are conducted
annually and compared to the records. Variances are investigated by the
inventory property specialist and adjustments are made when allowed
by state law. (Fixed
Assets Management System)
The University is subject to audit from the following entities: The Texas A&M University System Internal Audit Department, Texas State Auditor's Office, and the State of Texas Comptroller's Office. As recent as the Summer of 2004 the Texas State Auditor's Office conducted an audit of the Purchasing Card Program with results expected later this fall. In addition, The Texas A&M University System Internal Audit Department conducted a Management Audit. Results of this audit are available in the SACS Documentation Room.
Physical Resource Control
The University maintains security of it facilities by using the Best Access Key System. The Key Control Policy is administered by the Physical Plant.
Campus utilities and energy management are coordinated by the Physical Plant in the Central Plant. A Siemen’s Energy Management System is used to track and control energy usage, HVAC, fire alarm, and campus lighting. The system is monitored at the Central Plant and all alarms notify the University Police.
Construction over $500,000 is administered by The Texas
A&M System Office of Facilities Planning and Construction. Projects
below $500,000 are administered by Physical Plant. Departments
request remodeling or construction by filling out a Physical Plant Special
Project Form, which must be approved by the department,
Physical Plant and the VPFA.