UCAR Finance Administration

The University Corporation for Atmospheric Research (UCAR) Finance Administration oversees the financial health and stability of this non-profit organization dedicated to advancing atmospheric and related Earth system science. Their responsibilities are diverse and crucial, ensuring UCAR operates efficiently, transparently, and in compliance with all applicable regulations and funding requirements.

A core function is managing UCAR's budget, a complex undertaking involving multiple funding sources, including the National Science Foundation (NSF), other federal agencies, and private sponsors. This requires meticulous planning, forecasting, and allocation of resources across various programs, research initiatives, and administrative departments. The finance team develops and implements robust budgetary controls, monitoring expenditures and ensuring adherence to approved spending plans. They prepare detailed financial reports for internal stakeholders, funding agencies, and the UCAR Board of Trustees, providing transparency into the organization's financial performance.

Accounting operations are another critical area. This encompasses maintaining accurate financial records, processing accounts payable and receivable, managing payroll for a diverse workforce, and ensuring the timely and accurate payment of invoices. The finance team adheres to Generally Accepted Accounting Principles (GAAP) and maintains a strong internal control environment to safeguard assets and prevent fraud. They also oversee the annual audit process, working with external auditors to ensure the integrity of UCAR's financial statements.

Grant and contract administration is a significant component of UCAR's financial operations, given its reliance on external funding for research projects. The finance team works closely with researchers and project managers to ensure compliance with the terms and conditions of grants and contracts. This includes developing project budgets, tracking expenditures, preparing financial reports for funding agencies, and ensuring adherence to all applicable federal regulations, such as the Federal Acquisition Regulation (FAR) and Uniform Guidance. They provide guidance and support to researchers throughout the grant lifecycle, from proposal submission to project closeout.

Beyond these core functions, UCAR Finance Administration also manages investments, including endowment funds and operating reserves. They develop and implement investment policies, monitor investment performance, and ensure that investments are managed prudently and in accordance with UCAR's financial goals. Risk management is also an important consideration, identifying and mitigating potential financial risks to the organization.

In conclusion, UCAR Finance Administration plays a vital role in supporting UCAR's mission of advancing scientific understanding and serving society. Through sound financial management, meticulous accounting practices, and diligent grant administration, they ensure the organization has the resources it needs to pursue its research and education goals effectively and responsibly.