General Accounting

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Annual Financial Statements

Arranged By:   Chronological by year
Application Number:   89-23
Item Number:   210.01

Purpose

This record series consists of yearly disclosures which are used to document funding for the following accounts:  Auxiliary Enterprise, Parking, Intercollegiate Athletics, Sales and Service, Transportation Service, General Revenue, and Housing. The annual reports contain income/expense statements, summary sheets, current assets, cost investment, fixed charges, deferred charges, liability balance, long-term fund balances, and overall balance sheets.  The Accounting Department maintains the original documents while duplicate copies are distributed to designated departments of the University.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Daily Update Summary Reports

Arranged By:   Chronological and by fund numbers
Application Number:   89-23
Item Number:   210.02

Purpose

These are daily update summary reports of GAS Journal Entries, Cash Receipts, Accounting Checks, Intra-fund Transfers, Accounts Receivable, Sales Invoices, Obligations, and Budget Activity.  Summarized are total dollar amounts in debits and credits by account number.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Departmental Budget Reports (Computer Printouts) (GAS 310's and 315's)

Arranged By:   By account number and Chronological
Application Number:   89-23
Item Number:   210.03

Purpose

These are computer printout and month-end budget status reports (by account number) of the various fund allocations per department from the General Revenue Fund, Local Funds, and the Clearing Account.  One copy of this report is provided to each department, one copy is retained for reference by General Accounting, while the remaining copy is distributed as needed on a special request basis.

Procedure

Retain in office for two (2) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Cancelled Checks

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.04

Purpose

This record series consists of fiscal documents associated with monetary controls of the University.  The files are utilized as appropriate reference for various amounts regarding the Payroll Department, Trust Account, Vendor Foundation, Imprest Account, and funds concerning off-site annexations.  The Accounting Department maintains the original document.  Copies of the checks may be issued to designated departments for adequate record keeping.

Procedure

Microfilm and dispose of hard copies.  Retain all record series microforms in office for ten (10) years, then dispose of.

Cash Receipts

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.05

Purpose

This record series consists of a document relevant to the economic processes of the University.  The series is used to verify specific payments and establish a reference base for financial inquiries.  Contents of the series include dollar amount, name of vendor, and name of student.  Copies of the document are also distributed to the students as well as to designated departments of the institution.

Procedure

Microfilm and dispose of hard copies.  The microfilm is to be retained for six (6) years in office, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Numerical Check Request Papers

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.06

Purpose

This record series consists of monetary documents which are associated with economic functions of the institution.  The files are utilized by various departments of the University for general reference and supportive research.  A typical file contains vendor checks, invoices, purchase orders, travel vouchers, check requisitions, credit authorizations, and daily economic reports.  All the documentation is original except for vendor checks and purchase orders.  Original copies of the two previous documents and other duplicates of the series are located within designated departments of the University.

Procedure

Microfilm and dispose of hard copies.  The microfilm is to be retained for six (6) years in office, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

General Revenue Invoices and Vouchers

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.07

Purpose

This record series consists of documents relevant to fiscal operations of the University.  The files serve as resource data for computer input and possible reference by staff employees.  Even though the information is distributed to external agencies, the original is maintained within the Accounting Department.

Procedure

Microfilm and dispose of hard copies.  The microfilm is to be retained for six (6) years in office, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Land Acquisition Summary Report

Arranged By:   Chronological by year, Geographical by location
Application Number:   89-23
Item Number:   210.08

Purpose

This record series consists of economic data reflecting a comprehensive total of monies spent on land and/or building needs.  The report clarifies specific allocations and serves as a financial guide for economic planning. Contents of the series comprise city, address, name of land tract, county, location code, object code, location of abstract, location of deed, "acquired from", method of acquisition, cost, funds used to purchase, present use, future use, and recent improvements.  The Accounting Department possesses the duplicate copy as original documents are located with Central Management Services.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Listings of College Work Study Charges

Arranged By:   Chronological by student pay period
Application Number:   89-23
Item Number:   210.09

Purpose

These listings summarize the accounting charges to participating colleges by student pay period for Work Study Programs.  These data are in turn summarized in the year-to-date GAS report.

Procedure

Retain in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  Upon discretion of agency, the series may be microfilmed with the immediate disposal of the hard copy after microfilming.  Any or all record series microforms produced are to be maintained in University Office(s) or storage facilities for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Listing of Unclaimed Checks

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.1

Purpose

This record series consists of a roster for non-cancelled checks associated with vendor expenses.  Individual line items for checks which are written off are also related to payroll purposes and foundation expenses.  The rosters contain name and amount of specific check.  Original listings are maintained within the Accounting Department while copies of the series are sent to Grant Accounting.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

General Ledger Control Cards and Equipment Control Work Papers

Arranged By:   By fund and by area and Chronological
Application Number:   89-23
Item Number:   210.11

Purpose

This card file and related equipment control work papers are used for internal cross referencing with other General Accounting reports and statements for monitoring and controlling total dollar amount balance in "land", "buildings", "equipment", and "construction in progress".

Procedure

Retain in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  Upon discretion of agency, the series may be microfilmed with the immediate disposal of the hard copy after microfilming.  Any or all record series microforms produced are to be maintained in University Office(s) or storage facilities for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Journal Voucher Ledgers Entry Sheets

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.12

Purpose

This record series consists of economic line items which serve to update the University's General Accounting System.  In addition, the documents are utilized as a source of reference for general inquiries within the institution.  The record series contains the appropriate code number, account description, account number, purchase order number, dollar amount, debit and credit figures, reference number, index number, and departmental signatures.  The Accounting Department maintains the original while copies are distributed to designated departments of the University.

Procedure

Microfilm and dispose of hard copies.  The microfilm is to be retained for six (6) years in office, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Daily Economic Printouts (Daily Status Report of Open Orders, Daily Outstanding Obligation Report)

Arranged By:   Chronological by year
Application Number:   89-23
Item Number:   210.13

Purpose

This record series consists of fiscal printouts which reflect economic procedures and budget amounts within the University.  The daily status report of open orders emphasizes unpaid amounts relevant to any given purchase order.  The Daily Outstanding Obligation Report includes a group listing of unsatisfied debts.  Both printouts contain date, vendor name, amount of deletion, account number, and obligation number.  The latter document also encompasses a vendor number and is distinct from the former in terms of classifying the type of debt incurred.  In addition, both printouts are original to the Accounting Department and remain within that office without destruction.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Daily Edit Registers

Arranged By:   Chronological
Application Number:   89-23
Item Number:   210.14

Purpose

These daily edit registers summarize various GAS transactions recorded by other GAS reports, ledgers, and registers, including the invoice voucher edit register, receipt edit register, and check edit registers.  Overall data summarized are amounts, dates, vendors, etc.

Procedure

Retain in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  Upon discretion of agency, the series may be microfilmed with the immediate disposal of the hard copy after microfilming.  Any or all record series microforms produced are to be maintained in University Office(s) or storage facilities for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Economic Ledger Printouts

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.15

Purpose

This record series consists of financial printouts which reveal specific economic information for each day of institutional business.  Various line items are utilized for budget balancing and resource data for general inquiries of the University.  Generally, the printouts are composed of Daily General Ledger Trial Balances, Daily Budget Status Report, Month-to-Date Transactions, and Year-to-Date Transactions.  The Daily Trial Balances include description of account, balance of each account, account of name, debit amount, and credit amount.  The Daily Budget Status Report includes an account number, budget allocations, budget transfers, actual income and expense, requisitions outstanding, total balance outstanding, and total income/expense.  Finally, the Month-to-Date and Year-to-Date Transaction listings include account number, index number, date, account code, document number, budget amount, and obligations incurred.  The hard copies are original to the Accounting Department.  No distribution of the record series occurs within the University.

Procedure

Microfiche and dispose of hard copies providing the quality of the microfiche meets the standards of the State Records Commission.  The microfiche is to be retained for six (6) years in the office, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Economic Printout Ledgers (Deletion Transfer, Fixed Asset, Voucher Check Register)

Arranged By:   Chronological by year
Application Number:   89-23
Item Number:   210.16

Purpose

This record series consists of printout listings which concern property control operations of fiscal responsibility.  Economic entries of the series are used to balance and monitor funds related to physical plant procedures and equipment purchases. Contents of the series include voucher number, account number, date, vendor name, amount of purchase, and location of commodity.  The Accounting Department has both original and duplicate copies of the printouts.  In addition, the original and duplicates of the series are located with the Plant Inventory Control Department.  No distribution of the documents occurs to other areas of the University.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.
Purchase Orders and Requisitions

Arranged By:   Chronological by year, Numerical by file number
Application Number:   89-23
Item Number:   210.17

Purpose

This record series consists of financial documents of acquired commodities and services for the Institution.  The above papers serve as resource material for general inquiries relevant to economic procurement. Contents of the series include the name of department, terms of purchase, free on bond point, monies per quote, vendor number, social security number, vendor name, address, description of commodity, quantity of purchase, identification number, and price of item.  The Department of Accounting possesses duplicate copies of the series as the original documents are located within the Purchasing Department.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Reconciliations, Bank Statements, Deposit Tickets

Arranged By:   Chronological by year
Application Number:   89-23
Item Number:   210.18

Purpose

This record series consists of financial documents relevant to the fiscal operations of the institution.  All data of the series are utilized to record various monies within the University.  The documents are original to the Accounting Department.  Duplicate copies of the reconciliations are directed to the chief accountant and internal auditor.  In addition, the Bursar's Office receives duplicates of deposit tickets from the Accounting Department.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Revenue Bond Statements

Arranged By:   Chronological
Application Number:   89-23
Item Number:   210.19

Purpose

This record series consists of monthly and yearly balance sheets and operating statements for each of the University's bond issues.

Procedure

Retain all monthly statements in office for one (1) year, then dispose of provided no litigation is pending or anticipated.  Retain all year-end statements in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Sales Tax Return Files

Arranged By:   Chronological
Application Number:   89-23
Item Number:   210.2

Purpose

These are the General Accounting Office's copies of sales tax returns and supporting documents executed by the University as a taxable entity.  Most of the Department of Revenue's return files are scheduled for a retention period of three (3) years.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Schedule Summaries of Invoice Vouchers

Arranged By:   Chronological by year
Application Number:   89-23
Item Number:   210.21

Purpose

This record series consists of a single form which reflects economic processes of the Institution.  The document serves as economic reference for general inquiries by employees of the University. Contents of the document comprise date, voucher number, name of payee, amount, voucher number charge, and cumulative totals.  The original schedule summaries are sent to the Comptroller's Office in Springfield along with attached copies of invoice vouchers.  The Accounting Department maintains a duplicate of the specific record series.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Remittance Reports

Arranged By:   Chronological by fiscal year
Application Number:   89-23
Item Number:   210.22

Purpose

This record series consists of remittance reports maintained by the Office of the Bursar.  The records contain microfiche copies of reports of remittance status (e.g. a summary of the amount of funds collected for University fees, tuition, etc.) broken down by:  the amount of all monies taken in by the University, the specific G.A.S. account the monies were deposited to, all accounts that monies were withdrawn from, and a total record of monies sent to the State Comptroller's Office.

Procedure

Microfilm as generated and dispose of original paper.  All records series microforms are to be retained in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Contact Us

Ethics and Compliance Office
Health Services Building, 2nd floor
815-753-5560
eco@niu.edu