Financial Management of Service Centers Policy Revised

Published January 4, 2018

The Financial Management of Service Centers Policy, approved and signed by President Tripathi, is available in the University Policy Library

Overview

The university allows service centers to recover the cost of providing goods or services to its users, utilizing the service center billing rates established in accordance with the policy.

The policy provides guidelines for the financial management of service centers to support:

  • Accurate cost allocation
  • Consistent billing practices that document costs, charges, and billing rates
  • Compliance with federal government cost principles
  • Adequate internal controls

Policy Revisions

The policy was revised to:

  • Clarify the components included in the development and calculation of service center billing rates
  • Outline the process and required approvals for charging service center rates
  • Include internal control considerations related to billing and revenue collection required by the Safeguarding Cash and Cash Equivalents Policy
  • Provide guidance for:
    • Equipment expense and depreciation based on the purchase price
    • Requirements to complete and reconcile a physical inventory
    • Acceptable payment types for internal and external users

Applicability

This policy applies to service center activities conducted through university accounts including State, Research Foundation, and UB Foundation.

Guidance

Questions can be directed to Financial Management or Valerie Dennis.

Contact Phone Email
Financial Management 716-645-2660 ubs-servicecenters@buffalo.edu
Valerie Dennis 716-645-2604 vlb5@buffalo.edu