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Overdraft Reporting Overview

Summary: Find information about the overdraft system, which helps meet campus needs for monitoring and resolving overdraft conditions.

A fund is in overdraft when the expenditures exceed the award or budget allocation. UCSD has established an overdraft reporting system that includes:

An overdraft policy that defines responsibilities for central administration and departments including a process for overdraft resolution
A flexible tool in FinancialLink that reports overdraft conditions
Instructions on how to set up overdraft profiles

The policies and procedures of the overdraft system apply to administrative officials as defined in the Administrative Responsibilities Handbook. The overdraft policy establishes overdraft responsibilities at four organizational levels:

The principal investigator/ fund manager:

Takes corrective action to prevent or resolve overdraft conditions
Makes sure expenditures to sponsored project funds in an overdraft condition exceeding 60 days and $10,000 are in accord with the associated resolution plans approved by the department chair and vice chancellor/ dean as required
Creates a written plan with a timeline to discharge an overdraft exceeding 60 days and $10,000 and submits this to the department chair/ designee and vice chancellor/ dean when applicable
Takes necessary action according to approved overdraft resolution plans

The department chair/ chief administrative officer:

Monitors funds under their purview for overdraft balances exceeding 60 days
Makes sure written plans with timelines to eliminate overdraft amounts exceeding 60 days and $10,000 are submitted to the vice chancellor/ dean for approval
Monitors fund/ activity balances related to the approved overdraft plans and makes sure resolution is achieved

The vice chancellor/ dean’s representative:

Establishes a process requiring the submission and approval of written plans with timelines to resolve overdraft balances exceeding 60 days and $10,000
Monitors financial activities of departments within the vice chancellor’s/ dean’s organization for overdraft balances exceeding 90 days and $25,000
Makes sure the appropriate corrective action is taken by units within the organization to remedy reported overdraft exceptions

The controller:

Monitors campus funds for overdraft balances that exceed 120 days and $50,000
Informs the appropriate vice chancellor(s) of overdrafts exceeding these criteria
Partners with the vice chancellor to invoke corrective action on overdraft funds as required

The overdraft tool in FinancialLink reports overdraft conditions for the administrative officials described above. To access the system, go to the tools section in FinancialLink and choose the Overdraft Reporting Profiler option under Reconciliation.

Questions? See OPAFS Contacts.