Each Fee-for-Service Educational Activity (FSEA) must adequately document its activities and maintain records to support expenditures, revenue, billings, and cost transfers.
The support for the charges, including documentation of expenses and usage, should be retained by the unit to answer any user inquiries, or in case of an audit. In the event of an outside audit, unsupported charges are likely to result in repayment of those amounts plus associated Facilities and Administrative (F&A) cost recovery. Even when there are not costs to a sponsored project, FSEA charges represent distribution of costs across all University units, which effects financial reporting and analysis, and most importantly Annual Financial Statements of the University.
All UF departments.
Fee-for-Service Educational Activities should have written departmental procedures which direct the day-to-day operations. For example, FSEAs may develop the following departmental procedures:
FSEA departmental guidelines must comply with University policies and procedures. Where differences exist, the University’s policies and procedures shall take precedence.
It is the FSEA’s responsibility to maintain detailed records of all charges and to answer inquiries concerning those charges. Documentation must be retained for a minimum of 8 fiscal years from the date the billing is entered into PeopleSoft.
Documents that must be maintained include, but are not limited to:
Auxiliary Accounting: (352) 294-7236