5.0 Other Processes for AO or FO

Other Financial Review & Control Processes for the Administrative or Fiscal Officer

Certain analytical and review procedures should be carried out periodically by the Administrative or Fiscal Officer in each Department, Lab, or Center including (but not limited to):

  • Periodic comparisons of spending against budget or other available funds;
  • Periodic reviews of research or other sponsored projects where expenditures have exceeded revenues
  • Exception reporting, based on risk areas for that Department, Lab, or Center. Such exception reporting might include:
    • review of any expenditure or revenue item over a certain amount
    • review of phone calls over a certain dollar amount, or to certain locations
    • review of "swept" credit card charges

The Administrative Officer should also ensure that new and continuing DLC staff administering these guidelines have sufficient training in the use of relevant MIT procedures and regulations, including the use of these guidelines.

Authorizations are a critical part of the system of internal control on which these guidelines are based. Periodically the Administrative Officer should review the authorizations in place for the DLC through the Roles Data Base, MIT's tool for establishing and controlling users' access to financial and other administrative transactions and reporting functionality.

Updated 6/4/15