Policies
Click to review the below policies related to auxiliary revenue:
FIN-ACC-350: Accrual Accounting
Click the above link to review the Indiana University policy on accrual accounting. This policy outlines accrual accounting, how this impacts departments at Indiana University, and clarifies which method of accounting is required by the AICPA Audit Guide.
FIN-ACC-400: Recharge and Service Center Activity
Click the above link to review the Indiana University policy on recharge and service center activity. A recharge/service center activity is an activity by which one university unit furnishes goods or services to another university unit for the convenience of the university and charges a fee directly related to, and not more than, the allowable cost to provide the goods or services. Review this policy in full prior to initiating recharge or service center activity to ensure compliance with Federal OMB Uniform Guidance, federal cost accounting standards, and the university’s mission. Review this policy for procedures focused on properly initiating recharge and service center activities, compliance criteria for these activities, definitions for common terms surrounding recharge and service center activities, contact information for questions about recharge activities, and for information about how this policy impacts different units and employees at IU.
FIN-ACC-600: Auxiliary Financial Standards
Click the above link to review the Indiana University policy on auxiliary financial standards. This policy provides guidelines for the university community that allows for expeditious management of auxiliary units. This policy outlines standards for auxiliary units that develop fiscal difficulties with the goal of correcting problems before they become significant for both the campus and the university. Review this policy for a detailed statement about the oversight of and standards for auxiliary units, procedures focused on the review of auxiliary units, the definition of an auxiliary unit, contact information for questions about auxiliary unit activities, and for information about how this policy impacts auxiliary units and employees at Indiana University.
FIN-TRE-120: Processing Revenue
Click the above link to review the Indiana University policy on processing revenue. Review this policy to understand the revenue processing system and the importance of standardizing revenue processing within Indiana University as a means to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.
FIN-TRE-121: Establishing and Modifying Revenue Producing Activities (RPA)
Click the above link to review the Indiana University policy on establishing and modifying a revenue producing activity. A revenue producing activity is established when revenue is generated from the sale of products and/or services provided by the university and/or university employees. All new activities must be approved prior to accepting revenue. This policy is intended to provide procedures and guidelines for the establishment of revenue producing activities by IU departments, units, and individuals, consistent with the university mission and that of the unit generating the revenue. The purpose of this policy is to determine alignment with the mission and to standardize revenue processing within IU across similar functions with solutions characterized by strong controls to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.