UND Finance Office: Stewards of Fiscal Responsibility

The University of North Dakota (UND) Finance Office is the central hub for all financial activities at the institution. Functioning as the guardians of UND’s financial resources, the office ensures the efficient and compliant management of funds, supporting the university’s mission of education, research, and service.

Key Responsibilities

The Finance Office encompasses a wide range of responsibilities, including:

• Budget Management: Developing, implementing, and monitoring the university’s annual operating budget. This involves collaborating with departments across campus to allocate resources effectively and align spending with strategic priorities.
• Accounting and Financial Reporting: Maintaining accurate financial records, preparing financial statements in accordance with Generally Accepted Accounting Principles (GAAP), and ensuring compliance with federal and state regulations. This includes managing the university’s general ledger, accounts payable, and accounts receivable.
• Procurement Services: Overseeing the purchasing of goods and services for the university, ensuring that all procurement activities are conducted ethically and efficiently. This includes managing vendor relationships, negotiating contracts, and implementing cost-saving strategies.
• Payroll Services: Processing payroll for all university employees, including faculty, staff, and student workers. This involves ensuring accurate and timely payment of wages, deductions, and taxes.
• Treasury Management: Managing the university’s cash flow and investments, ensuring the security and liquidity of funds. This includes monitoring bank accounts, processing payments, and investing surplus funds.
• Grant Accounting: Providing accounting and financial reporting services for sponsored research projects and other grant-funded activities. This involves ensuring compliance with grant requirements and managing the financial aspects of research funding.
• Student Financial Services: Assisting students with billing inquiries, tuition payments, and financial aid disbursements. This includes providing information about payment options, managing student accounts, and ensuring accurate processing of financial aid funds.

Commitment to Transparency and Accountability

The UND Finance Office is committed to transparency and accountability in all of its operations. The office provides financial information to the university community and the public through various channels, including online reports and presentations. It also works closely with internal and external auditors to ensure that the university’s financial practices are sound and compliant.

Supporting UND’s Mission

Ultimately, the UND Finance Office plays a crucial role in supporting the university’s mission by providing sound financial management and ensuring the responsible use of resources. By maintaining a strong financial foundation, the office enables UND to pursue its goals of academic excellence, groundbreaking research, and community engagement.