Your Responsibilities
Putting Fiscal Stewardship into Practice
Fiscal stewardship is a shared responsibility. Everyone who makes decisions about, manages, approves, reviews, or uses University resources has a role in protecting those resources and helping UVA accomplish its mission.
Your specific responsibilities depend on your role, but good fiscal stewardship starts with a few common expectations.
What Fiscal Stewardship Looks Like
As a member of the UVA community, you may be responsible for:
- Using University resources appropriately and for their intended purpose.
- Following established policies and procedures when conducting University business.
- Maintaining accurate and complete documentation for financial activity.
- Reviewing and approving transactions carefully when approval is part of your role.
- Protecting University assets and information from loss, misuse, or unauthorized access.
- Understanding the internal controls associated with the work you perform.
- Speaking up when something doesn't look right or when a process may create unnecessary risk.
Responsibility at Every Level
Strong fiscal stewardship depends on responsibilities being understood throughout the University.
University Leadership
University leadership sets expectations for accountability, ethical conduct, sound financial management, and an effective system of internal control.
Schools, Units, and Department Leaders
Leaders establish and maintain appropriate processes and controls within their areas, understand significant risks, and ensure employees have the guidance they need to carry out their responsibilities.
Faculty and Staff
Faculty and staff follow established controls and procedures, exercise appropriate care when using University resources, maintain accurate records, and raise questions or concerns when something appears unusual.
Your Role in Internal Control
Internal controls are part of how we put fiscal stewardship into practice. They help protect University resources, maintain reliable information, support effective operations, and manage risk.
Learn more about Internal Controls
When Something Changes
Good fiscal stewardship also means recognizing when circumstances change. New systems, staffing changes, new responsibilities, changes in business processes, or unusual transactions can introduce new risks or affect controls that previously worked well.
If you're unsure whether a change affects your area's financial processes or controls, Financial Compliance can help you think it through.
When Something Doesn't Look Right
You don't need to determine whether fraud, waste, abuse, or another problem has occurred before raising a concern. If something seems strange, odd, or concerning, resources are available to help you determine what to do next.
Learn more:
We're Here to Help
Fiscal stewardship isn't about expecting everyone to be a compliance expert. It's about making thoughtful decisions, understanding your responsibilities, asking questions, and seeking help when you need it.
Financial Compliance works with schools and units across UVA to understand risk, strengthen internal controls, and support responsible stewardship of University resources.
Contact Financial Compliance: [email protected]