Thomas Jefferson University

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Accounting, Budgeting & Managing Funds

Income & Expenses

Operational Notes & Procedures

Ensuring Success Tidbits

  • Process timely transactions

Resources


Sponsored Projects

Operational Notes & Procedures

  • Sponsored project awards provided for direct costs and Facilities & Administrative (F&A) costs
  • After all monthly direct costs are posted to PeopleSoft Financials, F&A costs are applied to sponsored projects 
  • F&A rate and methodology is determined by the sponsored project award     
  • Federal and other sponsored agreements may require audits of Jefferson processes and transactions

Ensuring Success Tidbits

Resources


Capital Projects

Operational Notes & Procedures

  • University Finance works with departments and divisional financial personnel to prepare capital budgets
  • University Finance works closely with Jefferson Facilities Management Services to record capital spending

Ensuring Success Tidbits

  • Perform timely review of capital project reports

Resources


Asset Management

Operational Notes & Procedures

Fixed assets are defined as meeting one or more criteria:        

  • New building construction
  • Renovations to buildings and equipment that extend the useful life
  • Equipment having a cost of $5,000 or more (per item) with an estimated useful life greater than one year (whether purchased outright or via capital lease)
  • Software acquisitions having a cost of $5,000 or more (per item) including the costs to install and implement (both new software and vendor upgrades) with an estimated useful

Safeguarding University assets is critical.

  • Moveable equipment is recorded on PeopleSoft Financials
  • Moveable equipment purchased by College and Schools is barcoded for tracking purposes
  • Annual inventory of moveable equipment performed to verify
    • asset's existence, use and need
    • location (building and room)
    • responsible department

Ensuring Success Tidbits

  • Maintain accurate locations for departmental fixed assets  
  • Process timely asset transfers and retirements
  • Conduct annual inventory of moveable equipment

Resources

  • Jefferson Policies and Procedures, accessible via Pulse (left navigation, after logging in)
    • #118.02 Purchase Request
    • #118.05 Procurement of Construction/Capital Budget Items
    • #104.10 Surplus Supplies and Equipment
    • #103.09 Capitalization of Leases
  • Ascent Job Aids
  • Review fixed assets activity on financial systems
  • Jefferson research equipment

Forms

Accounting, Budgeting & Managing Funds Forms

ALL

TJU

JUP

TJH

MHD

Cost Transfer Request

Excel

 

 

 

 

InterDepartmental Transaction (IDT) Journal Entry Upload Template

Excel

 

 

 

 

Request for Cash Transfer

 

Excel / PDF