Step 11: Monitor Your Rate | UC Agriculture and Natural Resources

Monthly Monitor

Review Financial System Ledgers

Every month, use the Monthly Monitoring Checklist and your financial reporting system to review income and expenditures in your account.

Monthly Monitoring Checklist

Are only allowable costs for the rate charged in the account?
Do all billing documents include: period of charges, approved rate, and units billed?
When billing against an account, is billing within the account start and end period?
If billing is against a Contracts & Grants Award, is billing within the award period, and consistent within award terms and conditions?
Are approved rates being billed consistently?
Do you have all backup documentation/copies for billing documents?

Here’s How

Watch Deb describe how she monitors her rate

Quarterly Monitor

Every quarter, use the Quarterly Monitoring Checklist and financial reporting system to perform analytical reviews of estimated income/expenditure trends of your account.

Quarterly Monitoring Checklist

Is the rate covering costs? Are you on track to break even?
Is there a substantial unanticipated increase or decrease in expenses or decrease in income that will affect the rate outcome by more than 5%?
Have all customers been billed and income received?

Is Rate covering Cost?

YES-

Continue with steps

NO-

Contact your Control Unit

They may suggest:

Submitting a modified mid-year rate
Preparing a deficit resolution plan
Preparing customers for an increased rate

Have all customers been billed and income received?

YES-

Continue with steps

NO-

The Unit should try to collect outstanding balance.

If attempts to collect have proved unsuccessful,

report to Control Unit

Next: Step 12 Is Rate Covering Cost?