Overview of FACS (Financial Accounting Control System)
FACS is the Financial shadow system which controls of all of the school and experiment station financial resources, including State and Federal appropriations, grants, contracts, sponsored programs, sundry funds, and capital and county funds. Currently FACS houses financial data starting with State FY 1994 including any grants beginning from July 1993.
RIAS PO, IPO and Check Request commitments and payments are downloaded nightly and Payroll charges are downloaded weekly into FACS. For other than RIAS documents, FACS allows the encumbrance of funds at the instant of system acceptance for the following types of documents:
- Budget Letters
- Cash Transmittals
- Travel Advances
- Travel Orders
- Travel Reports (TABERs)
These documents are validated for Funds Availability, Account/Natural Account controls and Department Activity 1 (project) controls before acceptance. Once accepted, the system then automatically forwards the document to the appropriate Business Office accountant for approval and subsequent central printing of those forms needed by University Accounting for processing.
FACS automatically connects downloaded payments to existing FACS documents and provides a reconciliation process to match encumbrances and actual payments under exceptional circumstances. Indirect costs and fringe benefit commitments are automatically recorded and can be recalculated as needed.
There is a large variety of detail and summary accounting reports for departmental and managerial use for any time period desired including State and Federal FY and grant period. Examples are complete Summaries at the Account and Natural Account level, Details for Expenses, Revenue and Budgets, Summary and Detail information for Department Activity 1 (project) and PI codes across Accounts, tracking of monies spent on individual Vendors and statistical reports identifying system activity levels throughout the School and Station for management decision-making.
Access to FACS must be approved by your chair/director and the business office. Please contact Donna Guadagno at 848-932-3770 for access and more information.