CHIEF FINANCIAL OFFICER
OFFICE OF THE ASSISTANT VICE CHANCELLOR -
March 7, 2017
KEY ADMINISTRATORS/KEY SUPPORT STAFF (including UCSD Health Sciences)
Fund overdrafts create substantial risk to the University. This happens when spending exceeds allocated resources. Overdrafts in sponsored projects jeopardize the University’s ability to receive future awards and likely require the transfer of internal unrestricted funds to cover the shortfall. Overspending in self-supporting activities also presents federal compliance risks. Such events also threaten the financial sustainability of our operations.
Appropriate management of funds is a fiduciary responsibility of administrative officials at UC San Diego. PPM 300-02 requires administrative officials to effectively manage fund resources that are entrusted to them and requires prompt resolution if funds go into deficit and can be found at this link http://adminreco rds.ucsd.edu/PPM/docs/300-2.html. In the event of large deficits requiring long term resolution, the policy requires senior leadership involvement to ensure funds are brought back into balance as quickly as possible.
The policy also introduces and links to a new deficit reporting tool produced jointly by Business & Financial Services and Information Technology Services that will greatly enhance the visibility of funds in deficit to administrative officials across the campus. The campus deficit report can be found at this link http: //blink.ucsd.edu/finance/accounting/deficit/index.html
Questions concerning the policy or the report can be directed to Bill McCarroll, Senior Director, Internal Controls and Accounting at firstname.lastname@example.org.
We thank you for your on-going financial oversight.