UWM Finance Office: Managing the University's Financial Well-being

The University of Wisconsin-Milwaukee (UWM) Finance Office plays a crucial role in managing and safeguarding the university's financial resources. Their mission is to provide sound financial leadership, accurate accounting, and efficient financial services to support UWM's academic, research, and outreach missions. They are responsible for a broad spectrum of functions, ensuring the financial stability and regulatory compliance of the institution.

One of the primary functions of the Finance Office is financial reporting. They prepare and disseminate accurate and timely financial statements, ensuring transparency and accountability to internal and external stakeholders, including the UW System, the State of Wisconsin, and the federal government. This includes managing the university's general ledger, accounts payable, accounts receivable, and payroll functions.

Budgeting and planning are also central to their operations. The Finance Office collaborates with various departments and units across the university to develop and monitor the annual budget. They provide guidance and support in financial planning, resource allocation, and expenditure control, ensuring that resources are aligned with the university's strategic priorities. This involves analyzing financial data, forecasting future trends, and providing recommendations to senior leadership.

The Finance Office also oversees the university's procurement and contracting processes. They are responsible for ensuring that all purchases are made in accordance with university policies and procedures, as well as state and federal regulations. This includes managing vendor relationships, negotiating contracts, and ensuring competitive pricing. They strive to provide efficient and cost-effective procurement services to the university community.

Furthermore, the Finance Office manages the university's treasury functions, including cash management, investment management, and debt management. They are responsible for safeguarding the university's assets and maximizing investment returns while minimizing risk. They also work to ensure compliance with all applicable laws and regulations related to treasury operations.

The Finance Office is committed to providing excellent customer service to the UWM community. They offer training and support to faculty and staff on financial policies and procedures. They also provide access to various online resources and tools to assist with financial management. Their goal is to empower individuals across the university to make informed financial decisions.

In summary, the UWM Finance Office is a vital component of the university's operations. Through their expertise in financial management, reporting, and compliance, they contribute significantly to UWM's ability to achieve its educational and research goals.