The BRC Accountability Analyst prepares and posts to the BRC shared drive (X:) a list of the accounts to be reconciled for the month (Reconciliation Control Log, RCL). The RCL lists all the expenditure accounts belonging to departments whose transactions are processed by the BRC that had activity during the month.
The BRC preparer prints the general ledger (G/L) for each of the accounts on the Log.
The BRC preparer reconciles the transactions on the G/L, matching G/L items to the supporting documentation. If necessary, the BRC preparer may need to request documentation for other items appearing on the G/L that were not processed through the BRC (for example, charges from UC Berkeley Copy Center or IR&C’s Recharge system).
If all G/L items are matched to supporting documentation, the BRC preparer signs and dates the reconciliation and gives it to the BRC reviewer. The BRC preparer also adds initials to and dates the RCL to indicate the completion of this step.
If there are G/L items that do not have supporting documentation, those items are entered onto an Unreconciled Items Log. Items on this Unreconciled Items Log will continue to be monitored until they are resolved. Copies of the Unreconciled Items Log are (1) attached to the monthly reconciliation and (2) forwarded to the Accountability Analyst. The BRC preparer then signs and dates the reconciliation and gives it to the BRC reviewer. The BRC preparer also adds initials to and dates the RCL to indicate the completion of this step Supporting documentation packages that are not matched to G/L items are retained for the following month’s reconciliation process or investigated as appropriate.
The BRC reviewer ensures that the reconciliations are complete, accurate, and signed and dated by the BRC preparer. In addition, the BRC reviewer selects a sample of transactions that have been reconciled to audit (that is, the BRC reviewer will test that items appearing as “reconciled” on the G/L have supporting documentation and that supporting documentation packages are associated with a “reconciled” G/L item).
When the review has been satisfactorily completed, the BRC reviewer signs and dates the reconciliation. The BRC reviewer also adds initials to and dates the RCL to indicate the completion of this step.
A G/L reconciliation package is prepared (reconciled G/L signed and dated by the BRC preparer and BRC reviewer, the Unreconciled Items Log, a summary cover sheet with an acknowledgement for the department head’s review, and any other reports TBD) and is sent to the department head for review and sign off. The department head review and sign off is intended to reinforce their overall responsibility for departmental expenditures and to provide information for the representations that are made annually to Vice President Broome. The G/L reconciliation package summary cover sheet signed by the department head should be returned to the BRC Accountability Analyst within 10 business days for retention.
Once the G/L reconciliation package summary cover sheet is returned to the BRC Accountability Analyst, the BRC Accountability Analyst adds initials to and dates the RCL. The summary cover sheets signed by the department head are filed with the supporting documentation packages in a completed reconciliation file.
Team Leads monitor completion of reconciliations as recorded in the RCL. Reconciliation of all expenditure accounts within the Team’s responsibility should be completed and sent to the department for approval by the end of the month following the reconciled month. Team Leads also sample completed reconciliations to monitor that their Team is fulfilling their responsibilities, documentation is complete, and RCL entries are accurate. Team Leads monitor the Unreconciled Items Log to ensure that all significant or material items are promptly resolved and their Team continues to work all open items to resolution.
Quarterly, the Accountability Analyst provides to the Accountability Manager and BRC Director (1) a copy of the consolidated Unreconciled Items Log and (2) a summary of the status of account reconciliations for the fiscal year to date.