Overview of LRSS Certifications
The Ledger Reconciliation Storage System will prompt LRSS Reconcilers and LRSS Certifiers to acknowledge their reconciliation and certification actions with the following certification statements:
Reconcilers will be prompted to certify ledger reconciliation actions per the statement below:
In accordance with the UCRFS Ledger Review Guidelines (UCR Policy and Procedures # 200-97 ), I attest that the Financial Transaction Detail (FTD) Reports that I am responsible for reconciling are complete and in reportable condition. The financial activity is reasonable for the accounting period. Unusual activity has been researched and adjustments/corrections initiated as appropriate. Errors and omissions have been annotated on the reconciliation and the appropriate adjustments/corrections initiated.
Transactions that have been explicitly validated have accurate FAU distributions, are in compliance with requisite funding source, and are appropriate for the department operations. At a minimum the following transaction have been validated against source documents:
All transactions over $5,000
All cash collection transaction (e.g. cash, checks, credit cards, etc.)
All salary transactions have been verified through a thorough review of the Distribution of Payroll Expense
Contract and grant expenditures
For transactions that have not been explicitly validated, a reasonableness analysis (e.g. budget to actual comparison, fluctuation analysis by period and fiscal year, sampling) has been conducted to ensure the FTD Reports are in reportable condition.
Certifiers will be prompted to certify ledger reconciliation actions per the statement below:
In accordance with UCRFS Ledger Review Guidelines (UCR Policy and Procedures #200-97), I certify that:
These Financial Transaction Detail (FTD) Reports have been reconciled in accordance with the minimum standards of validation (i.e. transactions over $5,000, cash, salaries and contracts & grants) and reasonableness analysis;
The FTD are complete, accurate and compliant with applicable policies;
Financial activity is reasonable for the accounting period;
Unusual activity, errors and omissions have been annotated and adjustments/corrections initiated;
The Reconciler and Certifier is not the same person; and
At least annually, the reconciliation process is reviewed based upon the unit's current environment in concert with a risk assessment.
