Review the below policies related to accounting close at IU:

FIN-BUD-4: General Fund Year-End Balances

Click the above link to review the Indiana University policy on general fund year-end balances. This policy explains that the Finance and Audit Committee of the University Trustees will receive periodic reports from executive leadership on the projected general fund year-end reserves by campus. As part of the year-end financial report, the Committee will receive reports of actual June 30 balances in general fund year-end reserves by campus and individual responsibility center in centers with balances higher than a predetermine threshold. Review this policy for additional details, including the scope of the policy, reasoning for the policy, and the history of the policy.

FIN-BUD-20: Review of Fiscal Activities

Click the above link to review the Indiana University policy on the review of fiscal activities. This policy explains that fiscal managers will review, on a regular basis, the financial activities for which they are responsible to ensure that these activities are carried out properly and in a manner that is consistent with and contributes to the overall plans and goals of Indiana University. This policy was created to emphasize the need for review as a most important aspect of ensuring fiscal responsibility. Review this policy for additional details, including the scope of the policy, reasoning for the policy, and the history of the policy.