Internal Controls 1008

Description: The purpose of this policy is to provide guidelines for the implementation of internal controls, in accordance with state requirements, at Longwood University.

Owner: Financial Operations


Investment of Local Funds 1010

Description: The majority of revenue collected by Longwood University is submitted to the State Treasury Department. The limited amount that is not remitted is considered to be local funds by the University and is therefore available for investment.

Owner: Financial Operations


Identity Theft Preventions 1013

Description: This policy implements an Identity Theft Prevention Program ("Program") at Longwood University, pursuant to the Federal Trade Commission's Red Flags Rule under Section 114 and 315 of the Fair and Accurate Credit Transactions Act, which amended the Fair Credit Reporting Act...

Owner: Financial Operations


Disbursements: General Requirements 4102

Description: The purpose of this policy is to establish a guideline for the payment of invoices for materials, supplies, equipment, or services provided by various vendors or individuals.

Owner: Financial Operations


External Grants and Sponsored Research 4103

Description: This policy formalizes the responsibilities for administration of non-charitable and charitable grants and establishes guidelines for faculty and administrators who are involved in applying for, receiving, and administering external grants.

Owner: Financial Operations


Travel Charge Card Program 4107

Description: The purpose of this policy is to establish an individual travel card for Longwood employees.

Owner: Financial Operations


Travel Regulations 4108

Description: The purpose of this policy is to inform employees of state travel regulations for reimbursement of reasonable and necessary expenditures to individuals traveling on official business of the Commonwealth. The regulations set forth herein have been established in accordance with the Code of Virginia. State travel regulations may be found in Section 20335 of the Commonwealth of Virginia Accounting Policies and Procedures Manual (CAPP)...

Owner: Financial Operations


Fixed Assets Management 4204

Description: The University has a significant investment in fixed assets, such as land, buildings, fixed and moveable equipment, which are used to carry on the institution's mission and objectives. The purpose of this policy is to ensure that the University's fixed assets are acquired, safeguarded, controlled, disposed of, and accounted for in accordance with state and federal regulations, audit requirements, and generally accepted accounting principles.

Owner: Financial Operations


Fixed Assets Department Procedure for Inventory Process

Description: To physically count and confirm existence of Longwood University assets. To ensure all ETF and any assets costing over $5,000 are tagged and included in the appropriate department inventory list. To determine whether unrecorded or improperly recorded transactions have occurred and lastly to identify any excess, defective, or obsolete assets on the inventory list.

Owner: Financial Operations


Procedure for Completing Travel Expense Reimbursement Voucher

Description: The TERV form is to be used as the preferred method of reimbursement for University travel expenses. It replaces Commonwealth of Virginia forms DA-02-041 Travel Expense Reimbursement Voucher and DA-02-041A Travel Reimbursement Expense Reimbursement Voucher Continuation Sheet.

Owner: Financial Operations