Financial stewardship responsibilities are fulfilled by ensuring that expenditures are:

• Reasonable and necessary

• Consistent with established Stanford policies and practice, laws, and regulations

• Applicable to the work of the university (instruction, research, and public service)

• Consistent with sponsor terms and conditions or donor restrictions

Everyone who authorizes the expenditure of funds for any purpose must understand Stanford's accounting system (Oracle Financials), Stanford policy, state and federal laws and federal regulations that must be implemented through that system. There are classes available to you pertaining to financial policies and procedures, and research compliance. You can find more about these classes on these websites:

• Fingate
• DoResearch

Cost Policy addresses the reimbursement of university expenditures including:

• Your duties and responsibilities necessary to ensure that expenditures are reimbursed in accordance with policies and regulations.
• Policies, rules and regulations governing the reimbursement of expenditures by the University, federal government, sponsors and donors.
• The University accounting structure supporting the correct coding of reimbursable expenditures to benefiting financial activities

You have an important role in implementing Stanford University policy and federal regulations.  Whenever you order supplies, authorize the payment of salaries, reimburse a student, fill out an expense report, receive cash or checks, or do any of the many tasks involving Stanford finances, you provide financial data to the University.  The University uses this information to manage its budget and to recover indirect costs from our sponsors.

Cost Policy addresses the reimbursement of expenditures by the University, the federal government, external sponsors, and donors.  The federal government provides specific regulations regarding what costs are allowable and unallowable for reimbursement through direct and indirect cost recovery.  Many of the University's fiscal policies mirror federal cost regulations.  The University’s accounting structure supports the correct coding of reimbursable expenditures to benefiting cost objectives via expenditure types and attributes.  All University expenses (costs), regardless of fund source, are sorted and categorized in the accounting system, according to federal regulations, so the calculation of the indirect cost rate can be correctly determined.