Accounting

Overview

Accounting is responsible for accumulating and providing reliable and comparable data as to the fiscal affairs of the University within the guidelines established by the University, Board of Regents, State of Georgia and other Federal and State agencies, including the Government Accounting Standards Board (GASB).

The Accounting Department provides financial and business services to support the overall mission of the Comptroller's Subdivision within the Division of Fiscal Affairs and the overall mission of the University responding to the needs of students, faculty, and staff, by providing efficient and accurate data in order to manage the financial resources available.

Accounts Payable

The Accounts Payable office is responsible for making payments for all university goods and services with the exception of payroll which is handled by the payroll office. Responsibilities of the Accounts Payable office include the issuing of checks, liquidation of encumbrances in the Accounts Payable system and the processing of travel reimbursements.

Agency Fund Accounting

The Agency Fund is used to account for assets received by the University to be held or disbursed only on the instruction or on behalf of the persons or organizations who provided the funds. Included in this fund are the amounts withheld from payrolls for taxes and other deductions and employer portions of payroll taxes. Some University-related student organizations have accounts in the Agency Fund.

Auxiliary Accounting

The Auxiliary Activities Fund accounts for entities within the University that are self-supporting. Such entities furnish services to students, faculty, staff or the public and charge fees to the users. Their goal is to support the related activities of each enterprise and provide for replacement of facilities used. These enterprises include the Bookstore, Vending, Dining Services, Parking and Transportation, Housing, Health Center, and Athletics While the Mail Center, Document Center, and ID Card Office are State supported functions, the programs are all managed by the Auxiliary Services Department. Auxiliary Accounting accounts for the financial receipts and disbursements related to these funds ensuring compliance with University System of Georgia policy and procedure.

Cash Management

Cash Management is responsible for the daily management of the University's operating cash. In this role, this area coordinates the banking relationships for Savannah State University, and funds the various bank accounts to meet daily obligations. For more information, see our Cash Operations Manual, Departmental Cash Handling Form, and Cash Handling for Individuals (For Cash Operations Training Presentation).

Endowment & Investment Accounting

Endowment & Investment Accounting is responsible for providing various endowment fund code analyses upon request, including fund distribution projections and current principal balances; examining endowment fund balances quarterly to determine those which are fully funded, and those that can begin fund distribution; maintaining the official University record of endowment agreements and related documentation; researching questions relating to endowment funds; preparing annual Schedule of Endowment and Similar Funds; and recording annual fund distributions. See also SSU Investment Policy.

Fixed Asset Accounting

Property belonging to Savannah State University, regardless of value, is controlled and is subject to the regulations of the University System of Georgia as "state-owned property." Fixed Asset Accounting is responsible for supervision, control, and inventory of all state-owned property in the custody of Savannah State University. These custodianship duties and responsibilities, for property purchased by or assigned to a unit, have been delegated to the unit officer of that unit.

Further, and more specifically, the Plant Fund accounts for transactions relating to investments in physical properties, indebtedness incurred in the financing thereof, and reserves for maintenance and replacement. In years of construction projects, this fund will record amounts of income from gifts and state capital appropriations. The expenses in this fund include costs of construction, depreciation, pay downs in indebtedness and debt service programs.

General Accounting

The primary purpose of the General Accounting office is to maintain accounting records for all Savannah State University's appropriated Operating, Auxiliary, Special and Capital Improvement Funds as directed by the Comptroller and in accordance with the Business Policy & Procedures of the University System of Georgia.

Grants & Contracts Compliance

Grant & Contract Compliance & Accounting (GCC) is responsible for the administration of the financial aspects of externally funded grants and contracts.

Establishing new accounts upon coordination of a contractual agreement by the Office of Research Development & Administration (ORDA).
Providing assistance to fiscal officers.
Preparing financial reports required by funding agencies.
Reviewing and approving financial documents (vouchers, requisitions, billing authorizations, etc.) for conformance with the sponsoring agency agreement and guidelines.
Accumulating cost share information required by sponsoring agencies.
Assisting with the closure of completed grant accounts.