Good practices enable the University to achieve its objectives while maintaining an environment that focuses on ethics and accountability.
Internal controls are a part of our daily operations. This is a process, effected by management and other personnel, to provide reasonable assurance in the achievement of objectives, effectiveness and efficiency of operations, safeguarding of assets, reliability of financial reporting, and compliance with applicable laws and regulations. Our Internal Control Program is designed to ensure that the University has a system of accountability for and oversight of operations to assist in achieving our goals and objectives.
The New York State Governmental Accountability, Audit and Internal Control Act (the Act), Chapter 510 of the Laws of 1999, requires that all state agencies institute a formal internal control program.
The Division of Budget (DOB) further outlined the efforts required of state agencies to comply with the Act through issuance of the Budget Policy and Reporting Manual Item B-350, Governmental Internal Control and Internal Audit Requirements. In addition to outlining the performance of certain internal control responsibilities, we must annually certify to DOB that we are in compliance with those requirements, which are:
- Establish and maintain guidelines for a system of internal controls.
- Establish and maintain a system of internal controls and a program of internal control review.
- Make available to each officer and employee a statement of the policies and standards with which they are expected to comply, along with detailed policies and procedures employees are expected to adhere to in completing their work.
- Designate an Internal Control Officer to implement and review the internal control program.
- Implement education and training efforts to ensure that officers and employees have adequate awareness and understanding of internal control standards.
- Periodically evaluate the need to maintain an Internal Audit function.
Review a memo from Binghamton University President Harvey Stenger for more information.
What We Do
Our Internal Control Program helps ensure that the campus meets its mission and mandated requirements.
- be aware of the University’s mission and goals and their roles in attaining those goals;
- routinely exercise best judgment and act to protect the University and its resources from loss, waste or damage as well as ensure the accuracy and reliability of financial and other key data.
Employees are expected to exhibit ethical values and integrity in their daily activities, seeking areas for improvement and acting in the best interests and protection of the University and the public.
- Binghamton University's Internal Control Policy
- SUNY’s Internal Control Program Guidelines
- NY OSC Standards for Internal Control in New York State Government
- Division of Budget’s Budget Policy and Reporting Manual Item B-350, Governmental Internal Control and Internal Audit Requirements
- Division of Budget Manager's Guide to Testing Compliance with Internal Control Requirements
- New York State Internal Control Association