Introduction

The Financial Services Division is responsible for all financial transactions performed on behalf of the University of Saskatchewan and for maintaining the records so generated. This includes collecting revenues (eg. grants, fees, donations, etc.), purchasing for campus units, disbursing scholarship and award monies, and administrating all university accounts. Associated activities include all the related bookkeeping, accounting and budgeting, financial and statistical analyses and projections which form part of the financial activities of the institution.

The University Controller reports to the Vice-President (Finance and Resources).

The Financial Services Division is comprised of Budget Management, Financial Reporting, Payroll & Payment Services, Purchasing Services, Student Accounts & Treasury, Support & Development, and Trust Advisory Services.

The Financial Services Division is responsible for the official copy of the record series listed herein. Where source documents are forwarded to the Financial Services Division for data entry, the Financial Services Division will retain and dispose of documents in accordance with the Records Retention and Disposition Schedule. In a growing number of situations, the Financial Services Division receives electronic feeds from campus units. In such situations, the storage and retention of source documents has been delegated to those units with the expectation that they will abide by the Records Retention and Disposition Schedule. The University's Internal Audit Department may observe on the compliance of any campus unit with the Records Retention and Disposition Schedule at any time. Certain financial records must be retained for a specific period of time, as determined by law. The existence of summary versions of many financial transactions means that most routine records can be destroyed once the legislated retention period has expired.

Each administrative unit of the Financial Services Division creates different records which should be maintained by that unit for the required period of time and, if transfer to the University Archives is indicated, transfer them separately. The Archives will retain those records separately, while maintaining the relationship between the various administrative units of the Financial Services Division.