Project Documents:

Internal Controls - Revenue

Business Owner: Business Services

Project start date: 6/22/2015

Project closing date: 5/13/2016

This project is one of many within the Financial Internal Controls Initiative. The Initiative has a Framework Development Charter that provides direction for the individual project charters.

The current model for revenue and AR does not provide for adequate reporting to key UW-Madison stakeholders. Also, in the absence of a comprehensive institutional process, adequate controls over revenue and AR cannot be ensured.

This team is charged with creating recommended processes that include controls for common revenue cycles, delivery of accurate data for accrual-based financial reporting and tracking of accounts receivable transactions.

For purposes of this project, revenue is broadly defined as any inflows or other enhancements of assets or settlements of liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the university’s ongoing major or central operations.

Status

Completed

Scale

 Enterprise

Methodology

 Lean Six Sigma

Key Performance Metrics

No measurements for recommendations phase.