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August 20, 1970 SECTION I - INTRODUCTION A. RELATED POLICY As a part of the overall responsibilities delegated by the President of the University, the Vice President Business and Finance is responsible for developing financial reporting policies and procedures. The cost accounting policies and procedures set forth in this bulletin supersede any previous requirements issued by the Office of the Vice President Business and Finance covering Residence and Dining Hall operations. B. OBJECTIVES This bulletin is intended to establish a uniform cost accounting and reporting system covering student Housing and Feeding Operations (Group A Housing System and Group B Housing) which will provide basic data and reports to: * assist campus management in: ** controlling day today operating costs, ** analyzing the cost of providing various services and the cost of maintaining different types of facilities, and in ** evaluating managerial performance, and * assist both the individual campuses and the Office of the Vice President Business and Finance in evaluating performance in terms of meeting financial needs and commitments. C. DEVIATIONS This office recognizes that there are differences in organization and operating practices between campuses. Therefore, as much flexibility as possible is provided herein to meet the differing needs of individual campuses. In order to maintain comparability of data, however, so that each campus can have the benefit of comparing its operations with other campuses, it is important that any deviations from specific requirements of this bulletin have the approval of the Chief Accountant in the Office of the Vice President Business and Finance. D. RESPONSIBILITY Chancellors or their designees are responsible for campus compliance with the principles and requirements of this bulletin. Proposed changes must be coordinated with the Vice President Business and Finance so that problems can be resolved on a uniform basis. E. DEFINITION OF BASIC TERMS The following terms will be used throughout the bulletin and a clear understanding of their meaning is necessary. Facility - an apartment unit, residence hall or dining unit for which separate sets of accounts have been established to facilitate management control or cost analysis. Functional Cost - the cost of providing a given type of service; for example, housekeeping, linen, or raw food. Activity - the source or cause of the revenue or expense in term of a time period or event; namely, regular sessions, summer sessions, and conferences and/or catering and other special events. Residents - Head or Assistant Residents living in the facility as part of the student program. Occupant - a person, student or resident, living full time in the facility. |
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