Financial Review Checklist (FRC): Revisions and FY22 certification deadlines

The Financial Review Checklist (Form 1101 FR.01) has been reviewed and the following revisions and updates have been made: 

• The quarterly step, “Review Workday Roles,” has been revised to include an additional item to focus on, reviewing delegations utilizing the Workday report, Current Delegations - Yale. 
• The monthly review step, “Review New Restricted Gifts Established,” has been revised to included updated language for focus on items and the objective. 
• A column has been added to account for the steps that Faculty Research Management Services (FRMS) complete for some departments. 

To easily identify these changes, revisions to the FRC are currently distinguished with yellow cells and green text. Please note, this is temporary and the special highlighting will be removed after 30 days. 

 

Finally, University Procedure 1101 PR.02 Financial Transaction Review and Budget Monitoring requires a quarterly certification to attest to the completion of the Financial Review Checklist for the units that lead administrators are responsible for. The Financial Review Checklist Certification Training document and the FRC Certification Deadline table for FY22 have been updated and published to the Financial Compliance website. The new deadlines are consistent with prior years. Lead administrators should utilize this table to ensure they are completing their certifications on a timely basis.

 

For questions, please contact Financial Compliance at financial.compliance@yale.edu.