Client: Large Private University
Requirement: Interim Management Services
Business Situation:
The client is a large private university. An Interim Manager was required to assist in the year-end close process, as well as support the typical day-to-day compliance and accounting issues and tasks within the department.
ProNexus Solution:
ProNexus was engaged by the client to manage and review department operating budgets as well as coordinate discussions with the department heads to identify any issues. With year-end close approaching, ProNexus assigned a consultant to balance the books and ensure that individual project and grant funds were properly utilized and closed in a manner consistent with University policy. ProNexus worked with the support staff to address outstanding issues and assisted in accounting procedures to ensure a timely close.
The role required oversight of staff accountants and support staff, in addition to supporting various levels of professionals within the department.
Some major responsibilities included:
- Developed and maintained professional, comprehensive knowledge of the requirements of sponsored programs administration including the application of cost principles, administrative requirements, and audit requirements.
- Monitor, reconcile, and maintain expense transactions for department operating, grant, contract, gift, and endowment accounts utilizing the Oracle financial application.
- Monitored spending on sponsored projects, grant and contract activity to ensure proper recording of transactions in accordance with GAAP and University policies and procedures.
- Documented and implemented standardized control activities within the University
- Assigned proper account codes to all purchases of parts for fabricated equipment
- Completed periodic requests for financial information and/or analysis from Finance & Administration, and various other offices within the University
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