Utah State University Finance Department

The Utah State University (USU) Finance Department is responsible for the overall financial health and stability of the university. It encompasses a wide range of functions, all geared towards effectively managing resources, ensuring regulatory compliance, and supporting USU's mission of learning, discovery, and engagement.

At the heart of the department lies the Controller's Office. This division handles core accounting functions including accounts payable, accounts receivable, general ledger management, and financial reporting. They are responsible for preparing accurate and timely financial statements that adhere to Generally Accepted Accounting Principles (GAAP) and relevant governmental accounting standards. This ensures transparency and accountability in the university's financial operations.

Another key component is the Budget Office. This team develops and manages the university's annual operating budget. This process involves working closely with colleges, departments, and other units across campus to understand their budgetary needs and align resources with strategic priorities. They are responsible for monitoring budget performance throughout the year, identifying potential variances, and recommending adjustments as needed. The Budget Office also plays a crucial role in long-range financial planning, forecasting future revenue streams and expenditure needs to ensure the university's financial sustainability.

Treasury Services focuses on the management of USU's cash flow, investments, and debt. This includes overseeing banking relationships, investing idle funds to maximize returns while maintaining liquidity, and managing the university's debt portfolio to minimize borrowing costs. They ensure the university has sufficient funds available to meet its operational needs and strategic goals.

Procurement Services manages the purchasing of goods and services for the university. This involves negotiating contracts with vendors, ensuring compliance with procurement policies, and promoting cost-effective purchasing practices. The team also provides training and support to departments on purchasing procedures, helping to streamline the procurement process and maximize value for the university.

Sponsored Programs Accounting (SPA) oversees the financial aspects of research grants and contracts awarded to USU. This involves setting up project accounts, monitoring expenditures to ensure compliance with sponsor regulations, and preparing financial reports for grant agencies. SPA plays a critical role in ensuring the responsible stewardship of sponsored funds and supporting USU's research mission.

The USU Finance Department is committed to providing excellent service to the university community. They offer training, resources, and support to help faculty and staff manage their budgets and comply with financial policies and procedures. The department utilizes modern financial systems and technologies to improve efficiency and effectiveness in its operations. They also continuously seek to improve processes and enhance customer service.

Overall, the USU Finance Department plays a vital role in ensuring the university's financial health, enabling it to fulfill its mission of providing high-quality education, conducting groundbreaking research, and serving the community.