The Department of Financial Reporting and Analysis (which includes the Costing and Capital Projects accounting section) comes under the supervision and direction of the Controller’s Office, and is responsible for the following:

Preparing the annual Financial Report of the University. As part of this process, Department analysts review account balances and activity and communicate with business managers and other financial staff throughout the University in order to ensure the accuracy and completeness of the information that is summarized in the Financial Report. The Department coordinates the annual audit performed by the University’s independent auditors, acting as a liaison between the auditors and financial staff throughout the University.

Coordinating the preparation of the quarterly University and division-level financial statements for purposes of analysis and discussion.

Preparing various other reports to donors and outside agencies. These include financial statements for the University Retirement Plan for Staff Employees and the Plan of Health Coverage for Retired Employees. In addition, the Department provides financial information to other University departments as requested.

Researching and resolving accounting and financial reporting issues, and analyzing the effect of new accounting guidance on the University. The Department acts as a resource for business managers and other financial staff throughout the University who may request help in dealing with accounting issues with a financial reporting impact.

Coordination of cash activity. Coordinates with the Cash Manager and University departments the monitoring and establishment of all cash accounts and performs bank reconciliations on a monthly basis for the University’s central accounts.

Capital projects accounting. Performs accounting, analysis, and monitoring related to capital project accounts and the University’s external debt. Establishes guidance for Capital Management, Facilities and University departments on capital and debt accounting issues.

Monitoring control. Functions as a high level monitoring control of all University financial activity through the preparation and analysis of University and division level reporting and analysis.

Fringe benefits. In coordination with Grants and Contracts and the Budget Office, prepares the University fringe benefit rates.