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UNIVERSITY OF HOUSTON SYSTEM ADMINISTRATIVE MEMORANDUM
 

Summary: UNIVERSITY OF HOUSTON SYSTEM
ADMINISTRATIVE MEMORANDUM
SECTION: Fiscal Affairs NUMBER: 03.G.02
AREA: General Accounting
SUBJECT: Agency Funds
May 15, 1992; Revised January 31, 2009 Page 1 of 2
1. PURPOSE
The University of Houston System acts in a fiduciary capacity for agency funds. This
document establishes guidelines for accountability by the System for such funds.
2. POLICY
Regulations and accounting requirements shall be established by each component
university to ensure the safekeeping and proper administration of agency funds.
3. DEFINITION
Agency Funds: Funds in the possession of the component university for which it is
custodian or fiscal agent but not owner. These include deposits by faculty, staff members,
students and student organizations, and external third parties.
4. REQUIREMENTS
Regulations and accounting requirements shall include, but not be limited to, the
following:
a. Requiring that all organization cost centers have a department sponsor to assume

  

Source: Azevedo, Ricardo - Department of Biology and Biochemistry, University of Houston

 

Collections: Biology and Medicine; Environmental Sciences and Ecology