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Administrative Accounting

  

Location

Green Hall Room #1600
(near the Executive Suite)

Hours of Operation

Main Hours 
8:00am - 5:00pm

Check Distribution Hours  8:00am - 5:00pm

 Contact Us

Fax
(434) 582-3864

Telephone
(434) 592-3319

Purpose Statement

The Accounting Department provides effective accounting services to ensure compliance with institutional policies, applicable laws and regulations.

  • To safeguard the assets of the university by the innovative use of resources & collaboration with internal, external customers and stakeholders. 
  • To assist the university in meeting departmental goals, as well as campus wide business goals, while supporting the university Strategic Plan.

The Accounting Department strives to serve the university community in a professional and efficient manner by timely processing financial transactions, providing accounting and financial management services, and producing financial statements which accurately reflect the financial condition of Liberty University. 


For general assistance, contact the Accounting Office.

Finance Guidelines for
Student Clubs/Organizations

In accordance with tax law, the following guidelines have been implemented by the Liberty University Accounting Department as a means to define a student club/organization (club) and classify the nature and purpose of its activities.

 

  1. Club Categorization
    Clubs are categorized in one of three ways:
  • Category 1 – An approved and official Liberty University club who may or may not be the local chapter of a national organization and has the ability to use its parent’s tax ID. This club has multiple funding sources for operations, including, but not limited to, Student Government Association (SGA), dues, fund raisers, outside or parent organization donations, etc. This club is a non-related entity of Liberty University and responsible for its own tax reporting.
  • Category 2 – An approved and official Liberty University club whose sole funding source is the SGA. No outside funding sources are allowed, including, but not limited to, fund raisers, outside donations, dues, etc. This club operates under SGA sponsored activities only.
  • Category 3 - An approved and official Liberty University club who is solely student-run, and has multiple funding sources for operations - including, but not limited to, SGA sponsorship, member dues, fund raisers, outside or parent organization donations, etc. This club is responsible for their own funds/operations, but tax reporting is handled by the University. 
  1. Next Steps
    Once Accounting has determined the appropriate categorization of a club, the following actions will take place:
  • Category 1 – A completed W9 form must be submitted to Accounting. Any current balances, and future funding from SGA, will be issued as a check, via requisition, for off-campus banking.
  • Category 2 – All club activities will be processed through application to the SGA.
  • Category 3 – A completed Revenue Generating Activities Questionnaire must be submitted to Accounting for further classification. The club will use the University’s finance tools to maintain their account balances, complete financial transactions (payment requests, deposits, etc.) and is responsible for adhering to all SGA and University policies and procedures. 
  1. Annual Confirmation
    Clubs will be re-evaluated each fiscal year to determine the club’s viability and continued existence. Possible changes may include:
  • Nature/purpose
  • Club category
  • Club leadership
  • Advisor

 Proposed Liberty Club Questionnaire FY15


Announcements

HR Disbursement vs. Request for Check Forms

Some payments made by the University are paid through Human Resources (HR) instead of Accounts Payable (AP).  Due to the nature of these HR disbursements, and the signatures required on Request for Checks (RFC) for these types of payments, we have been requested to implement a form specific for HR Disbursements.  Please visit the HR Disbursement vs. Request for Check Forms page for more information.

 

Reconfirmation of the Contract Policy:

Per the President's direction the following announcement is EFFECTIVE IMMEDIATELY:

All contracts for Liberty University products or services are to be reviewed by Procurement prior to execution.  The only personnel authorized to sign contracts are the President, the Chief Financial Officer, the Vice President for Finance or designated personnel in the Procurement office.  THE UNIVERSITY WILL NOT RECOGNIZE NOR BE BOUND BY CONTRACTS SIGNED BY ANY OTHER PERSONNEL.

Contracts should be properly routed for review and execution. Please visit the Contracts Office webpage for additional information or contact them directly at contracts@liberty.edu or 592-7050

 

Important Links:

To review the full contract policy, please visit /media/1311/policies/WEB-Contracts%20Policy%20and%20Procedure.pdf

To assist in the proper routing of contracts, users can utilize the contract routing form, available here: Contracts Routing Form

All other Finance related policies can be found at: http://www.liberty.edu/financeadmin/budget/index.cfm?PID=6405