University of Connecticut University of UC Title Fallback Connecticut

Financial Processes

Executive Vice President for Administration and Chief Financial Officer

Under the Executive Vice President for Administration and Chief Financial Officer (EVPACFO), the Finance Division manages the financial resources of the University and is responsible for coordinating the development of financial plans, implementing the annual budget, financial reporting, accounting, and debt management.

LINK: Executive Vice President for Administration and Chief Financial Officer

Office of Budget and Planning

The Office of Budget and PLanning plans and manages the financial resources available to the University.

Among its many responsibilities are development of the annual operating and capital budgets, maintaining of long-range financial planning models, development of budget forecasts, revisions, reports and analyses to support university-wide resource allocation and decision-making, and providing financial management and budget training to the campus.

LINK: Office of Budget and Planning

Treasury Services

Treasury Services manages the bond issuance process, the investment and disposition of bond funds, and management of other financial resources of the University.

Treasury Services acts as the clearinghouse for all of the bond fund inflows and outflows totaling several hundreds of millions of dollars, and is responsible for debt management.

LINK: Treasury Services

Office of the Controller

The Office of Controller has oversight over the Accounting Office, Accounts Receivable, Accounts Payable, Office of the Bursar, Cash Operations, Cost Analysis, Financial Systems (KFS), and Tax and Compliance.

LINK: Office of the Controller

Accounting Office

The Accounting Office includes accounting and financial reporting, project accounting, inventory control / capitalization, and the Office of Cost Analysis.

LINK: Accounting / Financial Reporting

LINK: Project Accounting

LINK: Inventory Control / Capitalization

LINK: Office of Cost Analysis

Non Student Accounts Receivable

Non Student Accounts Receivable is responsible for a number of processes, including but not limited to: Processing of Service Transfer Invoices through the Core-CT billing system for other State of Connecticut agencies (where the University is the creditor), after the KFS invoice has been posted to the customer account in KFS; forwarding quarterly customer statements; sending past due accounts to collection; assisting KFS end-users with the A/R module including creating new customers and posting customer invoices and credit memos.

LINK: Non Student Accounts Receivable

Accounts Payable

Accounts Payable handles reimbursement/payment for personal services and certain other purchases through vouchers, purchase orders, Special Payroll (SPAR),
and personal services agreements. Services and purchases include: fees/honoraria for lecturers, speakers, and consultants; purchase of services such as photography, computer software, and equipment maintenance; reimbursements for luncheon or dinner meetings in connection with University business or for entertaining guests visiting the University on official business; and certain emergency or entertainment out-of-pocket expenses.

NOTE: Please go to the Accounts Payable website for complete policies and procedures including restrictions, forms to file, etc.

LINK: Accounts Payable

LINK: Accounts Payable Forms

Office of the Bursar

The Bursar’s core function is to produce accurate electronic billing statements and collect student obligations on behalf of the University.

LINK: Office of the Bursar

Cash Operations

Cash Operations processes departmental deposits, change orders and short-term advances.

LINK: Cash Operations

 

Financial Management System (Kuali)

For information about Kuali, please go to the Kuali page of the Resource Guide.

LINK: KFS – Resource Guide

Tax & Compliance Office

The mission of the University Tax & Compliance Office is to implement compliance with federal, state and local tax laws across all aspects of University operation.

LINK: Tax & Compliance Office