Changes to the Earnings Operations Policy

Cristina Cardenas | May 15, 2024

Effective May 24, 2024, a revised interim Earnings Operations policy will be issued. Changes were made to advance compliance with current Office of Management and Budget Uniform Guidance, the authoritative set of rules and requirements for federal awards management, and thereby reduce the risk of waste and misuse of federal funds. These changes are listed below.

  • Refreshing the definitions of the different types of earnings operations.
  • Requiring earnings operations to use the proper accounting processes.
  • Requiring earnings operations to post their fees publicly.
  • Providing guidance around the tracking and recording of capital assets.
  • Requiring ERIK approval of any earnings operation that plans to charge federal grants.

 

To compliment the changes in the policy, a training on Earnings Operations is available in BuckeyeLearn.

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Business and Finance, Financial Accounting, Finance, Workday