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Category:
Financial



Responsible Office:

Policy Title:
Internal Control Program

Document Number:
7500

Effective Date:
June 01, 2002


This policy item applies to:
State-Operated Campuses
Statutory Colleges
Table of Contents
Summary

Policy
Definitions
Other Related Information
Procedures
Forms
Authority
History
Appendices


Summary

Pursuant to the New York State Governmental Accountability, Audit and Internal Control Act (Act), this policy outlines the State University of New York’s (University) formalized program of internal control, which is designed to ensure that the University has a system of accountability for and oversight of its operations and to assist the University in obtaining its goals and objectives.


Policy

I. Purpose

The New York State Governmental Accountability, Audit and Internal Control Act (Act), Chapter 510 of the Laws of 1999, requires that all state agencies institute a formal internal control program. This system of internal controls is designed to assure that the University and its campuses meet their mission, promote performance leading to effective accomplishment of objectives and goals, safeguard assets, check the accuracy and reliability of financial and other key data, promote operational efficiency and economy, and encourage adherence to applicable laws, regulations and prescribed managerial policies and practices.

II. Requirements

The Act requires that all state agencies institute a formal internal control program. As outlined in the Division of Budget (DOB) Budget Policy and Reporting Manual Item B-350, the University is required to take the following actions:

III. Design


Definitions

The following link to FindLaw's New York State Laws is provided for users' convenience; it is not the official site for the State of New York laws. 

Definitions to be used in connection with Duties of the New York State Comptroller, NYS Finance Law §8(2-b) & (2-c) are found in: NYS Finance Law §§ 2 & 2a (Definitions)

In case of questions, readers are advised to refer to the New York State Legislature site for the menu of New York State Consolidated.


Other Related Information

There is no related information relevant to this policy.


Procedures

Internal Control Program Guidelines


Forms

There are no forms relevant to this policy.


Authority

The following links to FindLaw's New York State Laws are provided for users' convenience; it is not the official site for the State of New York laws. 

 

NYS Executive Law §950 (Internal Control Responsibilities of State Agencies)

 

NYS State Finance Law §8(2-b) and (2-c) (Duties of the New York State Comptroller relating to New York State Governmental Accountability, Audit and Internal Control Act and State agencies)

 

In case of questions, readers are advised to refer to the New York State Legislature site for the menu of New York State Consolidated.

State University of New York Board of Trustee Resolutions, 96-45. adopted March 25, 1996.

 


History

• April 20, 1999 – Chapter 510, Laws of 1999, effective January 1, 1999 amending the provisions of the New York State Governmental Accountability, Audit and Internal Control Act of 1987

• March 25 and 26, 1996 - Board of Trustee Resolution No. 96-45, Approval of Revisions to State University of New York Internal Control Program

• August 4, 1993 – Chapter 597, Laws of 1993 amending and extending provisions of the New York State Governmental Accountability, Audit and Internal Control Act of 1987 until January 1, 1999

• January 16, 1990 – Memorandum to Presidents, State-operated campuses enclosing the Division of the Budget’s Policy and Reporting Manual Item B-350 dated October 30, 1989, requiring a certification of compliance with requirements of the Internal Control Act by affected State agencies on or before March 31 annually

• May 26, 1989 – Memorandum to Presidents, Vol. 89 No. 8 from the Office of the Senior Vice Chancellor to Presidents, State-operated campuses and Deans, Statutory Colleges issuing the State University of New York Internal Control Guidelines

• March 22, 1989 – Board of Trustee Resolution No. 89-48, Implementation of the New York State Governmental Accountability, Audit and Internal Control Act of 1987 as it relates to Internal Audit

• December 28, 1988 – Division of the Budget, Budget Bulletin B-1090 requiring the State University as one of the State agencies to establish and maintain an internal audit unit in conformance with internal audit standards

• November 10, 1988 – Division of the Budget, Budget Bulletin B-1089 providing a schedule of State agencies covered by the Internal Control Act, including the State University

• May 24, 1988 – Board of Trustee Resolution No. 88-80, Establishment of the Audit Committee of the Board of Trustees

• June 15, 1988 – Letter from Acting Chancellor to the Director of the Budget providing DOB with the University’s response to Budget Bulletin B-1084

• May 18, 1988 - Division of the Budget, Budget Bulletin B-1084 directing all State agencies to complete an internal audit evaluation and attached questionnaire

• July 2, 1987 – New York State Governmental Accountability, Audit and Internal Control Act, Chapter 814, Laws of 1987


Appendices

Appendix A - Requirements for Internal Control Act Certification