Are you ready?
Questions?
Contact our Recon@UVa Team
[email protected]
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Why Recon@UVa?
What is Recon@UVa?
Advantages of Recon@UVa
Roles in Recon@UVa
Go to Recon@UVa
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Commonwealth requires annual ARMICS
certification & testing.
Monthly reconciliations are the key internal
control for University financial activity.
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• Mirrors the current reconciliation process
• Multi-phased project of automating reconciliations
• Phase 1 Grants Accounting (GA) expenditure
reconciliations went live October 3, 2011 and
the October recon will be due November 15
(please do September 2011 recons on paper)
• You will still need to do General Ledger (GL) and
Cash Reconciliations on paper (Procedure 1-5)
until they are incorporated into Recon@UVa
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• Recon@UVa reports include:
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Budget Balance Available/PI Funds Available
Expenditure Detail/PI Expenditure Detail
Planned Expenses
Labor Schedule
• The data source is the Integrated
System, same as Discoverer.
• Discoverer reports will still be available.
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• Use of Recon@UVa is mandatory!
• Discoverer reports (printed or electronic)
will not be accepted for GA
reconciliations in place of Recon@UVa.
(Although you can still use Discoverer for your
management reporting.)
• Recon@UVa streamlines the currently
required reconciliation process.
• Recon@UVa is restricted by security –
you only see accounts if you have been
assigned a role.
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Current Process
Recon@UVa Process
Follow policy FIN-023
Follow policy FIN-023
Follow procedure 1-4 for non-sponsored
reconciliations
Follow procedure 1-4 for non-sponsored
reconciliations
Follow procedure 1-4A for sponsored
reconciliations
Follow procedure 1-4A for sponsored
reconciliations
Gather source documentation, check
against monthly reports, file
Gather source documentation, check
against monthly reports, file
Print reports, route them in paper for
signature
Approval signature by 10th working day of
the month
File and store signed paper reports
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• We’re going GREEN – no more reams of
paper, and boxes of stored reports
• Saves you time on printing and filing of
reports
• International web access using Netbadge
• Automatic routing of the workflow – no
more tracking down signatures
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• Preparers and approvers can assign alternates
for sharing work, delegating work, or covering
for vacations.
• You will no longer need to review accounts with no
activity for the month!!
• It allows for concise documentation - what was
signed along with corresponding reconciling items,
comments, and flagged outstanding issues.
• It gives you the ability to work ahead – activity is
available for checking off as it processes.
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Preparer
Approver
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Fiscal
Officer
VP/Dean
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Reconcilers
Preparer
Notified when month-end data is
available (usually 1st of month).
Overseer
Optional role to assist in review and
approval process.
Approver
Notified of accounts ready for approval or overdue.
Must have appropriate knowledge and authority.
Fiscal Officer
Viewer access for all accounts in their area.
Notified if any account has not been reconciled
after 60 days.
VP/Dean
Viewer access for all accounts in their area.
Notified if any account has not been reconciled
after 90 days.
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• Authorized extended deadlines will be
accommodated with proper documentation.
• Workflow notification emails will be
generated in nightly batches (not real-time).
• Audit, Financial Administration and OSP
have Viewer access to all accounts.
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• The official designee is the “Person of Record”.
• Alternates can be assigned for any Reconciler
role but they DO NOT relieve the “Person of
Record” of their fiduciary responsibility.
• Alternates must have appropriate knowledge
and authority to fulfill their role, meaning the
ability to question the appropriateness of an
expenditure.
• Alternates have the same access to
the system as the “Person of Record”.
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www.virginia.edu/recon
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