Uta Finance Department
The University of Texas at Arlington Finance Department
The University of Texas at Arlington (UTA) Finance Department is a crucial operational unit, responsible for managing the university's financial resources with integrity and efficiency. Its primary objective is to safeguard UTA's financial health and ensure compliance with all applicable laws, regulations, and university policies.
The department encompasses several key areas, each contributing to the overall financial well-being of the institution. These areas typically include:
- Accounting and Financial Reporting: This section maintains the university's general ledger, prepares financial statements, and ensures accurate recording of all financial transactions. They adhere to Generally Accepted Accounting Principles (GAAP) and report financial data to internal and external stakeholders, including state and federal agencies.
- Budgeting and Planning: The budget office develops and manages the university's annual operating budget. They work closely with academic and administrative units to allocate resources effectively, support strategic initiatives, and ensure financial sustainability. Forecasting revenue and expenditures is a core function, helping UTA plan for future growth and address potential financial challenges.
- Treasury Services: This area oversees cash management, investments, and debt management. They ensure that university funds are available when needed and maximize returns on investments while minimizing risk. Treasury Services also manage banking relationships and process payments to vendors and employees.
- Procurement Services: Procurement is responsible for the purchasing of goods and services for the university. They ensure that all purchases are made in accordance with university policy and state law, often working to secure competitive bids and favorable terms.
- Payroll Services: This team processes payroll for all university employees, ensuring timely and accurate payment of salaries and wages. They handle tax withholdings, deductions, and reporting requirements related to payroll.
- Grants and Contracts Accounting: This section manages the financial aspects of sponsored research projects and other grant-funded activities. They ensure compliance with grant regulations, track expenditures, and prepare financial reports for funding agencies.
The UTA Finance Department plays a vital role in supporting the university's mission of teaching, research, and public service. By providing sound financial management and oversight, the department helps to ensure that UTA has the resources necessary to achieve its goals and serve the community. They are committed to transparency and accountability in all financial operations.
Furthermore, the department strives to provide excellent customer service to students, faculty, staff, and external stakeholders. They offer training and support to help the university community understand financial policies and procedures. Through continuous improvement and innovation, the UTA Finance Department aims to be a trusted partner in the university's success.