Internal Control Plan
Internal Controls are the structure, policies and procedures used to ensure UMass Boston accomplishes its objectives and meets its responsibilities. It is a process guided by management, designed to provide reasonable assurance in the following categories:
- Effectiveness and efficiency of operations
- Reliability of financial reporting
- Compliance with University Trustee Policy and President’s Office Guidelines
- Compliance with applicable state and federal laws and regulations, and
- Safeguarding University assets and resources
There are three levels of controls:
Level 1: University Trustee Policy
President’s Office Guidelines
University-wide Internal Control Plan
Level 3: Department Internal Procedures
The University of Massachusetts mission statement appears in Appendix 2, along with the UMass Boston Vision Statement. The University’s strategic plan, UMass Boston Renewal: Building the Student-Centered, Urban Public University of the New Century (Appendix 3), identifies UMass Boston’s current goals and priorities.
It is the role of management to provide the leadership needed for the University to achieve its goals and objectives.
The Vice Chancellor for Administration and Finance, UMass Boston, has provided UMass Boston and A&F Goals for 2010 (Appendix 4) to further clarify our campus efforts. This Internal Control Plan is a coordinated set of policies designed to achieve these goals and general financial management objectives.
Throughout this document, any items in italics indicate the policy is awaiting implementation.
Massachusetts General Laws Chapter 647 of the Acts of 1989, An Act Relative To Improving The Internal Controls Within
State Agencies. The law establishes internal control standards that define the minimum level of quality acceptable for
internal control systems in operation throughout the various state agencies and departments.
In accordance with Chapter 647, Leanne Marden, Controller, in addition to her regular duties, is assigned the responsibility for the UMass Boston Internal Controls. Ms. Marden is UMass Boston’s Internal Control Officer.