Administrative costs payable to health care and employee benefit vendors as identified in the contracts. (Used by Human Resources and Finance only).

 

Used to record the cost of property insurance.  Approval by Risk Management is required to avoid duplication of coverage and authenticity of the insurer.

 

Used to record the cost of liability insurance.

 

Used to record self-insurance claims for losses at the University.

 

Reimbursement and recovery for covered property losses to University departments.

 

Used to record the cost of miscellaneous insurance at the University.

 

All costs associated with the payment of taxes to governmental units. (Used by central unit only).

 

All costs associated with and originating from doing banking business.  (Used by central unit only).

 

All costs charged to the University from governmental departments including the State of Michigan and the City of Detroit.

 

This account is used to fund the reserve for uncollectible receivables.

 

Used to record the interest expense incurred by an Auxiliary unit that is carrying a cash deficit.  

 

Used to record any differences between actual cash versus the expected amount of cash based on checks cash, deposits received, etc.  (Used by central unit only).

 

Purchase or lease of vehicles requires the approval of the Vice President for Finance and Facilities Management.  Lease of state-owned vehicles requires the approval of the Department of Parking and Transportation.

 

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