Timeline

Timing and Completion for Transaction Verification

The Transaction Verification process will follow similar timing guidelines as the reconciliation process. Listed below are the expectations for process and completion of a specific month when operating in a business as normal process:

  1. On the 5th business day of a specific month, the prior months data will be pulled from a flexible 91 report in order for the Verification process to begin
  2. The data pulled from the Flexible 91 report will be reviewed and summarized within one business day and sent to Institutional Research and Planning
  3. Institutional Research and Planning will review, analyze and sample the data and return the Verification sample no later than the 15th of the current month
  4. The Verification team will have the remaining part of the month to review, follow up and complete each transaction by the end of the current month
  5. In the event that a transaction needs additional information or documentation from a Unit, the Verification team will reach out to the Unit through a single email request giving the Unit one to two weeks’ time in order to respond with the needed information
  6. In the event that a transaction needs additional information or documentation from the Service Center, the Verification team will reach out to the Service Center through email requesting the documentation be sent with one to five business days
  7. The Verification team has 30 days to complete the verification process once the data has been received
  8. Once all documents have been received and transactions have been verified, the Data and Quality Manager will have one business day to compile the printed results and have the Fiscal Manager and the Assistant Vice President sign off on the results
  9. Results will be distributed to the Unit contacts along with the Service Center within one business day after signatures have been obtained