Financial Policies and Procedures

Policies and procedures promote strong financial management and assist in the areas of budgeting, accounting, auditing and financial reporting. They are used to guide and direct fiscal operations. Below is a complete listing of Admin Policies and Procedures, made up of agency-specific policies and procedures as well as those adopted from Minnesota Management and Budget.

Introduction and Overview
The following Policies and Procedures Manual has been developed by the Department of Administration's Financial Management and Reporting team to assist agency personnel in the areas of budgeting, accounting, auditing, and financial reporting. It contains policy objectives along with step-by-step procedures for the most common and important financial transactions.

The manual has been designed as a reference guide to provide and promote strong financial management throughout the agency. We believe that regular use and reference to this manual will create a greater awareness and accountability in all financial matters. We strive for consistency, accuracy, and timeliness as we plan, process, record, and report our daily financial transactions. These policies and procedures will assist Admin in meeting its mission and goals.

Use the expandable boxes below to explore information within each chapter of the policy manual. The five primary chapters contain policies and procedures relating to specific business functions. Each policy document consists of the following components:
1. Policy Objectives: This component explains why it is necessary to have this policy.
2. Background Information: This component provides the historical evolution or additional information about the subject of the policy.
3. Authority: This component identifies the authority influencing the process for this business function. Reference to Minnesota Accounting and Procurements System (MAPS) and Statewide Employee Management System (SEMA4) policies and procedures can be found on the Minnesota Management and Budget (MMB) website.
4. Business Risks: This component provides risks that may occur if the policies and procedures are not implemented.
5. Policies and Procedures: This component contains the main policies and procedures text identifying what should occur or how something should occur to obtain the desired outcome.
6. Forms: This component is contained in the policies and procedures only if there are required forms that must be used to follow this policy.
See Also: This component is included in the policies and procedures only if there are other relevant authoritative guidance or policies which may provide assistance to the users. In addition, reference is included for terms that are noted in the glossary.

Following these chapters is an appendix, including forms, a glossary of terms used in the policies and procedures, and more. Other forms referenced in this manual are available from the sponsoring agencies, and forms pertaining to MAPS and SEMA4 are available from the Minnesota Management and Budget website.

If you need additional clarification or assistance in implementing these policies and procedures, contact any member of Admin's Financial Management and Reporting team. Recommendations for changes to improve these policies and procedures are welcome. These policies will be revised regularly.
Chapter 1: Financial Management
Admin Policies and Procedures
Chapter 2: Budgeting
Admin Policies and Procedures
Chapter 3: Accounts Receivable/Receipts
Admin Policies and Procedures
Chapter 4: Procurement and Expenditures
Admin Policies and Procedures
Chapter 5: Reporting
Admin Policies and Procedures
FMR - 5A-01 Financial Statement Process for Proprietary Funds (PDF)

FMR - 5B-01 Capital and Operating Leases (PDF)

FMR - 5C-01 Federal Cash Management and Reporting (PDF)

MMB - Fiscal Note Policy Manual (PDF)

MMB Fiscal Note Tracking System Access (PDF)
Other Resources
Additional Policy Documents

Statewide Policies and Procedures
Admin Policies
- Policy #10 Education Assistance (Tuition Reimbursement) (PDF)
- TuitionForm from HR web 12-16-18
IT, Communications and Mobile Devices
System Administration
- MMB 1101-07 Security and Access Policy (PDF)
  
  MMB 1101-07.1 Agency Security Administrators Procedure (PDF)
  
  MMB 1101-07.2 Compensating Controls Procedure (PDF)
Forms
- All Financial Forms
Other Resources
FMR SharePoint
Payroll Posting Audit Trail Verification
Frequently Asked Questions
- FMR Financial Management FAQs(PDF)