Managing Financial Needs - Overview

When working on international activities staff have stewardship responsibilities for the management of operational funds. In this context,“staff” refers to employees of all Columbia University departments and related entities in New York and in their host countries. Staff are required to exercise oversight of the financial transactions and status of each grant, gift, or any other sources to ensure that charges are reasonable, necessary, and allowable under the terms and conditions of the funding source as well as the activity's authorized scope. Charges also need to be properly allocated, and limited to the funds awarded for the type of activity. Achieving these goals internationally adds a number of complicating factors.

 

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The development and description of financial and administrative processes should incorporate and address the many special requirements of international operations. Each numbered tab expands on subjects that should be considered:

(2) describes the delegation of responsibilities;

(3) describes required controls;

(4) includes tips for budgeting;

(5) describes measures to ensure availability of funds from New York to and from the host location, and in-country;

(6) addresses how to meet operational banking needs;

(7) describes options to buy goods and services needed to successfully meet the needs of the operation; and

(8) contains links to other web resources with short explanations regarding their purpose.

Throughout these pages we include contacts and resources specific to each topic.

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