Subject:  Fiscal Officer Policy (Financial Policy I-1) No.        02-10
Date:    November 8, 2002

(Note:  This Important Notice is being sent to Account Managers, Chairpersons, Deans and Chancellors.  Please forward to others who have a need to know.)

The IU Financial Policy Number I-1, previously describing the “Role of Account Manager and Account Supervisor” is being modified.  The revised Policy I-1 will become effective on December 1, 2002.  This Important Notice describes how the revised policy will impact Project Directors who also currently serve as Account Managers on Contract & Grant (C&G) accounts. 

The rationale for the revised Policy I-1 is to “define the role of Fiscal Officer, Account Manager, and Account Supervisor in order to establish a process to ensure fiscal control, accountability, and integrity for university accounts.”  The new duties and responsibilities of the Account Manager are to “ensure that funds are being spent according to a budgeted plan and that the allocation of expenditures is appropriate to the function identified for the account.”

The campus, school, and department are responsible for identifying and sufficiently training staff in the role of Fiscal Officer.  The Fiscal Officer (or their delegate) is responsible for daily oversight of each account and will have signature authority for all financial transactions.  The Fiscal Officer will be required to utilize IU’s Financial Information System (FIS) and will ensure that delegates have the information and expertise to comply with university polices and practices.   The primary delegate role is not changing. Individuals currently assigned delegation responsibility in the FIS will continue to have this responsibility until the Fiscal Officer initiates a change.  This will ensure continuity of current internal departmental procedures and access to information through the conversion.

Each department needs to determine the best management practice for its particular operating structure.  For many C&G accounts, the Project Director will assume the role of Account Manager as defined above.  This will not affect their ability to purchase goods or services for the grant. 

The policy change will also not affect access to the Project Director Reports or the Monthly Operating Statements.  For C&G accounts, Project Directors will be able to access their account statements based upon their role as Account Manager.  If there are questions related to this policy change, please contact your C&G Administrator.

The current policy and the draft policy to I-1 are available at the following website:


Financial Management Services Phone:  (812) 855-4884 Email:
Research and Sponsored Programs - Indianapolis Phone:  (317) 274-8285 Email:
Sponsored Research Services - Bloomington Phone:  (812) 855-0516 Email:
Research and University Graduate School Phone:  (812) 855-3963 Email: