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Category:
Audit
Financial
Legal and Compliance



Responsible Office:

Policy Title:
Internal Control Program

Document Number:
7500

Effective Date:
June 17, 2014


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 Government 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 achieving its goals and objectives.


Policy

I. Purpose

The New York State Government Accountability, Audit and Internal Control Act (Act) requires that all state agencies institute a formal internal control program. This system of internal controls is designed to ensure that the University and its campuses meet their mission, promote performance leading to the effective accomplishment of goals and objectives, safeguard assets, provide for the accuracy and reliability of financial and other key data, promote operational efficiency and effectiveness, and encourage adherence to applicable laws, regulations and prescribed 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 annually certify compliance with the provisions of the Act to DOB.

III. Design

The University’s internal control program and guidelines incorporate concepts set forth by The Office of the State Comptroller’s Standards for Internal Control in New York State Government, and the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) updated version of its report titled Internal Control – Integrated Framework. The COSO framework consists of five basic components to internal controls. Each component should be present and functioning throughout the system of internal control and referred to when conducting risk assessments. These components are as follows:


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

COSO Internal Control - Integrated Framework.

Standards for Internal Control in New York State Government.

SUNY, SUNY System Internal Controls Website.




Procedures

Internal Control Program Guidelines


Forms

Evaluation templates are available as part of the Internal Control Program Guidelines, SUNY Procedure, Internal Control Guidelines, Document #7501


Authority

New York State Governmental Accountability, Audit and Internal Control Act, Chapter 814, Laws of 1987, as amended by Chapter 510, Laws of 1999.

State University of New York Board of Trustee Resolutions, No. 96-45, adopted March 25, 1996, No. 89-45, adopted March 22, 1989, and No, 88-80, adopted May 24, 1988.

State University of New York Board of Trustee Resolutions, No. 14-___, adopted June 17, 2014, Approval of Revisions to the State University of New York Internal Control Program.


History


Appendices

There are no appendices relevant to this policy.