UCLA Finance Office: Stewards of Bruin Resources
The UCLA Finance Office serves as the central hub for all financial activities at the University of California, Los Angeles. Its primary responsibility is to safeguard UCLA’s financial resources, ensuring they are managed effectively, transparently, and in compliance with all applicable laws, regulations, and university policies. This multifaceted office plays a crucial role in supporting the university’s core mission of education, research, and public service.
Functionally, the Finance Office encompasses several key divisions. The Controller’s Office is responsible for maintaining the university’s accounting records, preparing financial statements, and ensuring the accuracy and integrity of financial data. They oversee accounts payable, accounts receivable, general accounting, and financial reporting.
Treasury Services manages UCLA’s cash flow, investments, and debt. This department is tasked with optimizing investment returns while minimizing risk, ensuring sufficient liquidity to meet the university’s operational needs, and managing debt obligations prudently.
Budget and Planning is crucial for the allocation of resources across the university. They develop and monitor UCLA’s annual budget, working with various departments and units to align financial resources with strategic priorities. This involves analyzing financial data, forecasting future revenue and expenses, and providing guidance on budget management best practices.
Procurement Services is responsible for overseeing the university’s purchasing activities. They strive to obtain goods and services at the best possible value, while adhering to ethical and legal standards. This includes negotiating contracts with vendors, managing supplier relationships, and ensuring compliance with procurement policies.
Risk Management and Insurance Services identifies, assesses, and manages potential risks to the university. They work to protect UCLA’s assets and minimize liabilities through insurance coverage, risk mitigation strategies, and safety programs.
The Finance Office is committed to providing excellent customer service to the UCLA community. They offer training and support to departments and units on a wide range of financial topics, including accounting procedures, budget management, and procurement policies. They also maintain a comprehensive website with resources and information to help users navigate the university’s financial systems.
In an increasingly complex and regulated environment, the UCLA Finance Office plays a vital role in ensuring the university’s financial health and stability. By maintaining sound financial practices and providing proactive support to the UCLA community, the Finance Office enables the university to fulfill its mission and achieve its goals.