Safeguarding and Stewardship of University Financial Records


This policy establishes the University’s standards on financial reporting and defines the responsibilities of University, Medical Center, and College at Wise personnel related to accounting standards. To provide our external constituents with reliable and accurate financial statements, the University must follow generally accepted accounting principles (GAAP) and comply with related federal, state, and local regulations. (Note: The policy also applies to component units (University-Associated Organizations) which follow requirements established by the Financial Accounting Standards Board.)

The University must also provide management information required for financial planning, coordination, and control, as well as financial reporting required to respond to external entities that provide financial support for the University to establish that the University is exercising fiscal stewardship over those funds.

Applies To
Academic Division
The Medical Center
The College at Wise
University-Associated Organization
Approved On
Contact Office
Financial Reporting and Operations
financial reporting
University assets
safeguarding assets
accounting system
University funds
financial records
Last Revised
Major Category
Finance and Business Operations
Oversight Executive
Vice President and Chief Financial Officer