Responsibilities

 

This office is charged with the responsibility of developing, maintaining, and reporting the primary financial accounting system for the University. It must maintain internal control and accumulate financial information which will meet the many user requirements. The office must:

    • Provide reliable information about economic resources and obligations.
    • Provide reliable information about changes in net resources resulting from activities.
    • Provide financial information that assists in estimating the future financial potential of an entity.
    • Conduct periodic training sessions covering the University's financial accounting policies and procedures.
    • Direct, manage, and oversee the reporting of financial activities associated with auxiliary enterprises and service units.
    • Maintain an effective accounting and financial reporting system for auxiliary enterprises and service units.
    • Develop and maintain uniform policies and procedures to guide auxiliary enterprises and service units.
    • Maintain an effective accounting and financial reporting system for the Regents' Fund. This includes monitoring of expenditures from these funds to ensure that they are in compliance with donor intent.
    • Provide financial analyses for the purpose of providing reliable/relevant information, financial and otherwise, to meet management needs. This includes identifying, researching, and documenting financial variances.
    • Oversee and coordinate the University's annual external audit, as well as periodic state audits and internal audits of units within the Controller's Office.
    • Oversee and coordinate the management of institutional cash flows and the investment of temporarily idle cash. The underlying investment objectives stress the avoidance of risk and maximizing yield.