General Accounting

General Accounting provides services to campus management and departments in the following areas:

• Generates quarterly and annual financial statements

• Ensures all recording and reporting of campus financial transactions on General Ledger in compliance with GASB and GAAP

• Processes transactions in State MMARs system as required

• Facilitates inter-company activities with clinical system, including weekly clinical payroll uploads for cross-funded employees, related retro adjustments, fringe benefit charge-backs, and service center recharges

• Requests endowment spending account setups on behalf of departments and performs post-audits of endowment spending to ensure compliance with donor stipulations

• Processes manual procard reallocations and cross-campus journal entries

The Properties group under General Accounting provides accounting, financial reporting and analyses services for Worcester City Campus Corporation, a subsidiary of the school.

The Asset Management group under General Accounting maintains and monitors the school’s fixed assets and other inventory records. More information can be found on Asset Management page of this website.