ECU Finance Department: Stewards of Fiscal Health

East Carolina University's Finance Department plays a vital role in maintaining the financial integrity and stability of the institution. As stewards of university resources, the department is responsible for a broad range of functions, ensuring compliance with regulations, providing accurate financial information, and supporting strategic decision-making.

Core Responsibilities

The Finance Department's primary responsibilities encompass several key areas:

• Financial Reporting: The department prepares and analyzes financial statements, providing a clear and accurate picture of ECU's financial position. This includes annual reports, budget summaries, and specialized reports for internal and external stakeholders. Accuracy and transparency are paramount, ensuring stakeholders have the information they need for informed decision-making.
• Budgeting and Planning: The department oversees the development and execution of the university's budget. This process involves working with various departments and units to allocate resources effectively, aligning financial priorities with the university's strategic goals. The team is actively involved in long-range financial planning, anticipating future needs and challenges.
• Accounting Operations: This area covers a wide array of functions, including accounts payable, accounts receivable, general ledger maintenance, and grant accounting. Efficient and accurate processing of financial transactions is crucial for maintaining smooth operations and ensuring timely payments to vendors and reimbursements to employees. Grant accounting ensures proper management and reporting of sponsored research funds.
• Treasury Management: The department manages the university's cash flow, investments, and debt. Effective treasury management is vital for maximizing investment returns while minimizing financial risk. This includes monitoring cash balances, managing banking relationships, and ensuring compliance with investment policies.
• Compliance and Internal Controls: Ensuring compliance with federal, state, and university regulations is a critical function. The department establishes and maintains internal controls to safeguard university assets and prevent fraud. This includes developing policies and procedures, conducting internal audits, and providing training on financial compliance.

Supporting the University's Mission

Beyond its core functions, the Finance Department plays a crucial role in supporting ECU's overall mission of teaching, research, and service. By providing accurate financial information and sound financial advice, the department empowers university leaders to make informed decisions that advance the university's strategic goals. They are active participants in strategic planning committees, offering financial insights and expertise to guide resource allocation.

Commitment to Excellence

The ECU Finance Department is committed to providing high-quality service to the university community. The team strives for continuous improvement, embracing new technologies and best practices to enhance efficiency and accuracy. Their dedication to integrity, transparency, and accountability ensures that ECU's financial resources are managed responsibly and effectively, contributing to the university's long-term success.