Carrying out these plans will put the University in full compliance with CHC requirements. Recharges of services provided by hospital departments to other campus departments must be reported as revenue. Recharges of services provided by campus departments to hospitals must be identified. Transactions of hospital restricted funds must be identified.
Cash discounts are to be classified as revenue.
Holiday, vacation, and sick leave time must be accrued and the unused portion reported as a liability for CHC reporting purposes. Supplies are to be expensed to departments as issued and the on hand inventory reported as an asset for CHC reporting purposes. CHC statements are predicated on a balanced, double- entry set of books. The hospitals' books must close earlier than in the University schedule. The classifications and reporting requirements prescribed by CHC for salary, wages and employee benefit expense will be developed manually until the new payroll system is implemented.