Assessment Plan – Administrative and Academic Support Unit Level 

Assessment Plan – Administrative and Academic Support Unit Level Department/Unit: Financial Analysis and Reporting Date: August 20, 2009 Assessment Coordinator : Ahmed Fathy Badawy Email: [email protected] The mission of the Financial Analysis and Reporting Office is to safeguard the financial interest of the University through monitoring, analyzing, and reporting on the university’s financial position, physical properties (Fixed Assets), revenues and expenditures, and other University fiscal reporting required by statutory agencies in the US and Egypt. Mission Statement: Ext.2331 Expected Outcomes: Something the department or unit wants to achieve; desired end results for the organization or program, rather than actions. 3‐5 ideal, maximum 10. The university’s financial reporting structure and practices are in compliance with US and Egyptian federal regulations. Assessment Methods: What factors, variables, or elements will you measure to gauge your success at reaching your expected outcome? Targets/Benchmarks: For each of these indicators, what is the minimum result, target, benchmark, or value that will represent success at achieving this outcome? When Will Assessment Be Conducted and Reviewed? How and when will you collect and analyze results? 1.
Reconciliation review of university expenses by Financial Controller, and external consulting office Compliance review by Financial Controller and external consulting office. Follow up on any new issued updates and changes by AICPA, IRS, and DHHS. 1.
The process starts in November and ends in February each fiscal year (the deadline to submit the Indirect Cost Rate to DHHS) Reconciliation of the tax report to the Audited Financial Statements (AFS). E&Y external auditors’ review. 1.
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The university’s annual US tax return is accurate and filed on time. 1.
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Accounting and financial reporting for the University’s fixed assets will be in compliance with university and federal policies. University administrators have access to accurate and timely analyses and reports. 1.
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A periodical reconciliation review between the fixed assets senior accountant and the reports generated by the inventory control manager to ensure the accuracy and updating of fixed assets. Customer satisfaction On‐time, accurate and in‐full delivery of requested analyses and reports. A balance of project capital expenditure to be reconciled to the Assets Under Constructions by both Fixed Assets Office and New Campus or other project under construction responsible units. Accurate asset reporting delivered to AUC various cost center and reviewed 1.
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100% of the university expenses are reconciled 100% of the university’s financial administration and reporting are in compliance with the federal circular OMB A‐21. Changes are communicated to staff within one week of their release. 100% of the AFS items: assets, liabilities, revenue, expense and net assets are all reconciled to the reported items. Zero findings in the auditor’s review 100% of fixed assets items reviewed and processed. Minimum number of un‐
posted & wrong Assets Master Data (AMD) No complaints received as a result of insufficient training on Fixed Assets Use of Results: How will you use results for planning, improvements, and decision making? Results will be used to pinpoint problems or potential problem areas and to make adjustments to rates and other reporting practices. Results will comply with US Federal requirements The process starts in October and ends in April or July of the next fiscal year (the deadline or with extension to IRS) On a periodical basis through the depreciation process and through the other un‐posted AMD reports. Results will be used to update and conform to the new requirements of reporting from the regulatory or Federal authorities. 100% of reports are delivered by the End of fiscal year. Survey requested data, with zero errors. conducted at the end of By the end of the fiscal year, the every two years. construction expenses must be 100% settled to WIP. Zero findings in audit reports. Zero errors or delay in depreciation schedules. 90% of users report satisfaction with this outcome. Results will be used to pinpoint problems or potential problem areas and to make adjustments to rates and other reporting practices. 4.
through internal and external audit. Depreciation schedules are prepared periodically. User feedback