Financial Records

What is a financial record?

A financial record is a formal document representing the college’s transactions and can be internal or external. This may also include the college paying or being paid for goods/services. There is an audit trail for each financial transaction, which can be either in electronic or paper format.

Common examples:

  • eRequest
    • This includes transactions related to internal orders to other OSU departments, eStores, purchasing cards (Pcards), purchase orders, reimbursements, payments, refunds
  • Travel
    • This includes travel request and the supporting documentation for reimbursements.
  • Deposits to the college

Who is responsible for financial accountability of those records?

Remember that only the official version of a financial record is subject to the retention requirements – copies are not. The College of Optometry the Business Office is responsible for the financial functions and for maintaining all official versions of financial records in accordance with the retention policy.

 

What should I do if I have financial records in my office?

Official financial records are secured in the Business Office. (Financial records for sponsored projects, however, reside at OSP.) A printed copy of an eRequest, for instance, is not a record with retention requirements. If you are not sure if documents you have are financial records or if you do have any financial records, please contact Doris Orsborn.

Are contracts financial records?

Jim Woods oversees contracts related to the College of Optometry. If you think you have the official copy of a contract, please contact Jim Woods or Doris Orsborn.

What should I do if I purchase software?

Geoff Wiggins is required to keep a copy of all software keys. Please be sure to send him this information. Contact Alex Vu for more information related to software.