The Financial Accounting & Cash Control Office (FACC) has primary responsibility regarding reconciliation of university financial accounting processed through the Comptroller’s Office. FACC provides control measures to further ensure integrity of financial system transactions.
FACC manages cash control system processes through overall accountability of bank funds, facilitating departmental deposits, armored courier services, wire and ACH banking services, and materials. FACC provides leadership to the university community for eCommerce activity and facilitates requests, changes and compliance within the credit card or online payment processing environment. FACC handles various pay cycle system verification processes to facilitate the issuance of refunds and/or disbursements for the university and unclaimed property filing.
FACC reconciles financial accounting through comparable balancing between KU’s PeopleSoft Student Administrative system and Financials system as well as KU’s Financial Reporting (DEMIS) system to the State of Kansas SMART system at each fund level contributing to successful monthly reviews and fiscal yearend closing. The office handles daily financial system journal entry postings, journal request corrections, adjustments, and transfers to the state impacting revenue and expense recognition. Staff engage in various detailed general ledger balancing for student options, international student insurance, federal financial aid awards, KUEA funded financial aid, Perkins/HPSL/LDS Loan programs and billings to affiliates for reimbursable costs.