UAMS ADMINISTRATIVE GUIDE

NUMBER: 8.1.06
DATE: 04/05/96
REVISION:
01/05/04

SECTION: FINANCE DEPARTMENT
AREA: GENERAL ACCOUNTING
SUBJECT: METHOD OF FINANCE (MOF) PROCEDURES

PURPOSE

The purpose of this policy is to inform departments within the University of Arkansas for Medical Sciences (UAMS) of the uniform procedures for the processing of a Method of Financing (MOF) form. 

PROCEDURE

  1. In accordance with State of Arkansas Law, Act 104 of 1971, as amended, when a construction or renovation project costs or exceeds $250,000.00, or a project requires the use of an architect or engineer, a MOF must be completed and approved before construction/renovation begins. 
  2. Campus Operations will provide to the Controller’s Office a completed and signed Construction Financial and Funding Approval (CFFA) form, project budget estimates and a Project Impact Statement.  These will be used in the completion of the MOF. 
  3. Once the Controller’s Office has completed the form, it will be forwarded to the Systems Office for approval by the Vice President for Finance and Administration.
  4. It is then sent to the Department of Finance and Administration (DF&A) for approval. 
  5. The MOF is then forwarded to the Legislative Council for approval. 
  6. Once this approval is gained, the MOF is returned to DF&A for encumbering and numbering. 
  7. The DF&A sends the approved MOF to the UAMS Controller’s Office.
  8. The Controller’s Office forwards a copy of the approved MOF to Campus Operations.