Excess Funds Accounting Records
Arranged By:
Chronological
Application Number:
89-23
Item Number:
180.05
Purpose:
This record series consists of Calculation Sheets for Current Excess Funds and related working papers. This form is required by the Auditor General and is used to determine the amount of excess funds remaining in all local fund accounts at the end of each fiscal year (if these accounts contain more than a certain amount, the excess funds must be returned to the State). This information is also included in the University's annual audit report.
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.
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