Uvu Finance Department

Utah Valley University Finance Department

The Utah Valley University (UVU) Finance Department plays a crucial role in managing the financial resources of the institution, ensuring fiscal responsibility, and supporting the university’s mission of student success through engaged learning.

Core Functions

The department is responsible for a wide range of financial activities, including:

• Budgeting: Developing and managing the university’s annual budget, allocating resources across departments and programs, and monitoring expenditures to ensure alignment with strategic priorities. This includes working closely with academic and administrative units to understand their financial needs and 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, state, and university regulations. This also involves managing accounts payable and receivable.
• Treasury Management: Overseeing cash management, investments, and debt management to maximize returns and minimize financial risk. The department ensures the university has sufficient liquidity to meet its obligations.
• Procurement: Managing the procurement process for goods and services, ensuring fair competition and compliance with purchasing policies and procedures. This includes negotiating contracts and ensuring cost-effectiveness.
• Payroll: Processing payroll for all university employees, ensuring accurate and timely payment of salaries and wages, and complying with all applicable tax laws and regulations.
• Grant Accounting: Managing the financial aspects of grants and contracts, ensuring compliance with grant requirements, and preparing financial reports for funding agencies.

Supporting Student Success

While many of these functions are behind the scenes, the Finance Department directly contributes to student success. By effectively managing the university’s resources, they help ensure that UVU can:

• Offer affordable tuition and fees.
• Provide scholarships and financial aid opportunities.
• Maintain state-of-the-art facilities and technology.
• Support high-quality academic programs and services.

Commitment to Transparency and Accountability

The UVU Finance Department is committed to transparency and accountability in its financial operations. They work to provide clear and accessible information to stakeholders, including students, faculty, staff, and the public. This includes publishing annual financial reports and adhering to strict internal controls to safeguard university assets.

Collaboration and Service

The department operates as a service-oriented organization, collaborating with other departments and units across the university to provide financial guidance and support. They strive to provide excellent customer service and to make the financial processes as efficient and user-friendly as possible. They are often involved in training and education to ensure that university personnel understand financial policies and procedures.