What is it and how does it work?
All financial systems at Carleton implicitly utilize Fund-Orgn security. This means that to view, create, or approve a transaction against any FOAPAL, a user must have the appropriate level of authority on both the Fund and Orgn to perform the desired action. To ensure the appropriate controls are in place, we maintain financial security for every Fund-Orgn combination, known as an Index, and the type of access each individual requires. The guiding principles for access and approval security, as laid out below, are defined in the Approval and Delegation of Authority Policy. When requesting financial access, be sure to include this information, unless otherwise indicated.
Effective Date and Expiry Date
A security assignment becomes effective at 12:00 am on the date specified. Similarly, the record expires at 11:59 pm on the date specified.
Ownership is defined as the individual that has inherent control over, and responsibility for the index. Only owners can approve or request security access for other individuals, including delegating financial approval authority, T&E approver status, electronic system access and eShop implicit approval. An owner is either specified as Primary (P) or Secondary (S), though both levels have the same level of access. There can only be one primary owner, typically the head of the department; however, there can be multiple secondary owners. Only Financial Services can deem an individual an owner of a funding source.
Ownership type is either Position-Based (P), meaning the ownership is a result of the position the individual holds, or it is User-Based (U), meaning it is based on who that individual is. Position-based ownership will be updated if the person in the position changes. User-based ownership is usually reserved for research grants and contracts and does not change. In some cases, an Override (O) is placed on the owner. This typically happens when a position owns the index, but someone is acting in the position on a temporary basis. Only Financial Services can change the ownership type on a security record.
Financial Approval Authority (a. k. a. Signing Authority)
This refers to the delegation of financial approval authority on the funding source. It can be assigned or approved by an owner for any individual, employee, student or otherwise, as outline in the Approval and Delegation of Authority Policy. Financial Approval Authority automatically grants the individual Both Query and Posting (B) level access to all systems and makes them a financial approver for eShop and potential financial approver for Travel and Expense. The person has unlimited automatic approval for eShop. A financial approval authority who is not an owner cannot approve or make requests for access on behalf of an owner.
A request or assignment for financial approval authority requires the dual agreement of both an owner and the individual being granted financial approval authority.
T&E Financial Approval Authority
This is the one individual who is the approver of Travel and Expense requests for the financial approval queue (second approval required after the supervisory approval). Any individual who is a financial approval authority is eligible to be the T&E approver, but only one person can be designated at a time.
Access levels determine the user’s abilities in FAST, T&E and Banner. ‘Both’ access gives them the ability to post and query data related to the funding source, but does not make them a financial approval authority. ‘Posting’ allows them to only post transactions, ‘query’ allows them to only view transactions.
eShop access will grant an individual “requestor” status in eShop as well as give the individual a minimum of posting access on all other systems, unless otherwise specified. All owners and financial approval authorities are automatically given this access. This will add the funding source to the individual’s profile in eShop for easy access and use.
eShop Implicit Approval Threshold
A threshold determines if/when the requisitions made by the individual in eShop require a financial authority’s approval. Any requisitions above this threshold will require the approval of a financial approval authority. You cannot give an individual an unlimited threshold without making them a full financial approval authority. A zero threshold value means the individual can request purchases with the funding source, but all requisitions, regardless of dollar value, will require the approval of a financial approval authority.
This new system will allow individuals to view their access and make requests online via Carleton Central. Owners will be able to manage the security assignments for their funding sources 24/7!