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Queen's University

Reconciliation Guidelines

Reconciling your Trust or Endowment Fund Statement of Operations is an important part of the overall control framework within the University and should be completed on a monthly basis. Monthly reconciliations help ensure that only valid charges have been applied against your account and that transactions you expect have been recorded as anticipated.

Reconciling statements on a monthly basis can be time consuming and a balance between level of effort and level of accuracy is important.

It is the recommendation of the Business Officer Advisory Group that individuals adhere to a reconciliation transaction threshold of $50. Individuals reconciling accounts need not seek additional supporting documentation for unknown transactions of less than $50 unless there is concern of an error.

In support of the community with respect to reconciliations, Financial Services will focus efforts on requests for transactional information above $50, and to those where there is a concern of an error.

Kingston, Ontario, Canada. K7L 3N6. 613.533.2000