Accounting Policies and Guidelines

How Central Michigan University classifies and accounts for major capital assets.

CMU is required by the State of Michigan to remit certain unclaimed property annually by July 1st.

Federal regulations stipulate that if a university has a refund check due to escheat to the State of Michigan that includes Title IV funds, the university must return the Title IV funds to the appropriate aid program.

Information and resources for fixed assets and construction and progress (CIF) accounting.

Information about how certain fundraising activities should be handled by departments.

Types of General Ledger (GL) Transfers and when to use them.

​​How to report non-monetary items that are donated to the University.

Plant Fund Reserve Accounts support future capital expenditures at Central Michigan University.

Guidelines and other factors to consider when reconciling CMU departmental accounts.

Payroll distribution reports are sent electronically to the Person Responsible on the cost center and the Administrative Contact for the cost center.

As a component unit of the State of Michigan, Central Michigan University is exempt from the payment of sales and use tax.

All tuition and course fee revenue is distributed to the departmental cost centers directly from the SAP Campus Management system.

Central Michigan University reports taxable Unrelated Business Income (UBI) as required by the Internal Revenue Service Code and Regulations.

Wire transfers into the university require a receipt transaction to be processed in order to receive appropriate credit.