Materiality Thresholds for adjustment JEs DRAFT For discussion

Materiality Thresholds for adjustment JE’s DRAFT – For discussion purpose only ►The materiality threshold matrix below defines processes in scope, adjustment JE ownership and $ amount thresholds by campus to use along the monthly close cycle D+1 D+2 D+3 D+4 D+5 Unit. Close close activities Unit Activities Ownership / Key processes / milestones Central Accounting Revenue JE’s - Tuition and Student fee - Financial Aid - Loan Sub-ledger cut-off and Revenue & Expense accrual postings by Units and Central Accounting (General Accounting group) into GL system Adjustment JE posting if Materiality > $50 K 1 or $100 K 2 JEs into Oracle/Banner systems (GL) JEs into Oracle/ Banner systems (GL) Central Accounting Expense JE’s - Accounts Payable - Payroll and Fringes Adjustment JE posting if Materiality > $50 K 1 or $100 K 2 Units/Department Revenue JE’s - Patient services - Auxiliary revenues - All other revenues Adjustment JE posting if Materiality > $50 K 1 or $100 K 2 JEs into Oracle/Banner systems (GL) D+7 D+8 Consolidation, Units Review & Units review Sign off Sign &Off Materiality > $500 K 1 or $1 M 2 JEs in Oracle/Banner systems (GL) D+9 D+10 Reporting Adjustment escalated to Central Accounting (Consolidation & Reporting groups) for JE posting into Hyperion Financial Management (HFM) Adjustment JE posting if Materiality > $500 K 1 or $1 M 2 Adjustment JE posting if Materiality > $1 M 1 or $2 M 2 Adjustment JE posting if Materiality > $500 K 1 or $1 M 2 JEs in HFM Adjustment JE posting if Materiality > $1 M 1 or $2 M 2 JEs in HFM Materiality > $50 K 1 or $100 K 2 Central Accounting revenue JE’s - Grants accounting D+6 JEs in HFM JEs in HFM (1) Newark and Camden units will apply a materiality threshold of $50 k - $500 K and $1 million during the close cycle (2) Materiality threshold of $100 k will apply to the two major campuses, New Brunswick and RBHS units, and the 5 Central units. 1