Business Services | Accounting

Cost Center Review

ACCOUNTING APPLICATION

Located on the Employee Home Page while on campus. Use StarID to access this system.

St. Cloud State University is an agency of the State of Minnesota and follows the State’s fiscal year of July 1 through June 30. Budgets for each fiscal year are allotted to deans, departments, and centers in accounts called “cost centers.” Each cost center has a designated “responsible person” who is a university employee, usually the chairperson or director.

Account activity needs to be reviewed periodically to ensure any errors are detected and corrected promptly. It is recommended that this review be performed at least monthly and that copies of source documents such as budget transfers, purchase orders, 1400 internal requisition forms, service center requisition forms, etc., are retained in a file or binder for reference and comparison.

Persons responsible for these cost centers may monitor them using the Accounting Application. The application provides up-to-date information on account balances, open commitments, and transaction details needed to review a cost center. Accounting reports of this same information can also be run for viewing or printing.

Guidelines for reviewing cost center activity

Accounting Application

Common accounting reports

Parameters needed to run common accounting reports

Parameters needed to run reports for select Departments or other functional area