Private University Engages ProNexus for Interim Help
Requirement: Interim Management Services
The client is a large private university. An Interim Manager was required to assist in the year-end close process, as well as support the typical day-to-day compliance and accounting issues and tasks within the department.
ProNexus was engaged by the client to manage and review department operating budgets as well as coordinate discussions with the department heads to identify any issues. With year-end close approaching, ProNexus assigned a consultant to balance the books and ensure that individual project and grant funds were properly utilized and closed in a manner consistent with University policy. ProNexus worked with the support staff to address outstanding issues and assisted in accounting procedures to ensure a timely close.
The role required oversight of staff accountants and support staff, in addition to supporting various levels of professionals within the department.
Some major responsibilities included:
- Developed and maintained professional, comprehensive knowledge of the requirements of sponsored programs administration including the application of cost principles, administrative requirements, and audit requirements.
- Monitor, reconcile, and maintain expense transactions for department operating, grant, contract, gift and endowment accounts utilizing the Oracle financial application.
- Monitored spending on sponsored projects, grant and contract activity to ensure proper recording of transactions in accordance with GAAP and University policies and procedures.
- Documented and implemented standardized control activities within the University
- Assigned proper account codes to all purchases of parts for fabricated equipment
- Completed periodic requests for financial information and/or analysis from Finance & Administration, and various other offices within the University