Byu Hawaii Finance Office

The Brigham Young University–Hawaii Finance Office plays a critical role in managing the university’s financial resources, ensuring fiscal responsibility, and supporting the academic and operational goals of the institution. Located on the Laie campus, the office oversees a wide range of financial activities, including budgeting, accounting, accounts payable and receivable, payroll, and procurement.

A primary function of the Finance Office is the development and management of the university’s budget. This involves working collaboratively with various departments and divisions to forecast revenue, allocate resources, and monitor expenditures. The office ensures that the budget aligns with the university’s strategic plan and adheres to all applicable regulations and policies. They provide guidance and support to department heads in managing their budgets effectively and efficiently.

The Finance Office is responsible for maintaining accurate and transparent financial records. This includes recording all financial transactions, preparing financial statements, and conducting internal audits to ensure compliance with accounting principles and internal controls. They work closely with external auditors to ensure the university’s financial statements are accurate and fairly presented.

The office manages accounts payable, ensuring timely payment of invoices to vendors and suppliers. This involves verifying invoices, processing payments, and maintaining accurate records of all transactions. They also handle accounts receivable, collecting tuition and fees from students and other payments due to the university. Efficient management of accounts payable and receivable is crucial for maintaining healthy cash flow and strong relationships with vendors and students.

Payroll services are also handled by the Finance Office, which ensures that all employees are paid accurately and on time. This involves calculating wages, withholding taxes, and preparing payroll reports. The office also manages employee benefits, such as health insurance and retirement plans. Compliance with all applicable payroll laws and regulations is a top priority.

Procurement is another key function of the Finance Office. They oversee the process of purchasing goods and services, ensuring that the university obtains the best value for its money. This involves soliciting bids from vendors, negotiating contracts, and monitoring vendor performance. The office also ensures that all procurement activities comply with university policies and ethical standards.

In addition to these core functions, the BYU–Hawaii Finance Office provides financial training and support to faculty, staff, and students. They offer workshops and presentations on topics such as budgeting, accounting, and financial management. They also provide guidance and assistance to students with financial aid and tuition payment options.

The BYU–Hawaii Finance Office is committed to providing excellent customer service. They strive to be responsive, helpful, and knowledgeable in all their interactions with students, faculty, staff, and vendors. Their dedication to financial stewardship and service helps to ensure the long-term financial health and success of Brigham Young University–Hawaii.