Kansas State University Finance Office

The Kansas State University (K-State) Finance Office plays a crucial role in managing the university's financial resources, ensuring compliance, and supporting its academic and research missions. It operates under the leadership of the Chief Financial Officer and is organized into several key departments, each responsible for specific financial functions.

Core Functions

The Finance Office oversees a broad spectrum of financial activities, including:

• Accounting and Financial Reporting: This involves maintaining accurate financial records, preparing financial statements in accordance with generally accepted accounting principles (GAAP), and providing financial information to internal and external stakeholders.
• Budgeting and Planning: The office facilitates the development and execution of the university's annual budget, working closely with academic and administrative units to align resources with strategic priorities. This includes forecasting revenue, allocating funds, and monitoring budget performance.
• Treasury Management: Managing the university's cash flow, investments, and debt is a critical function. The Finance Office ensures that funds are available to meet the university's obligations and that investments are managed prudently to maximize returns.
• Procurement and Payment Services: This area is responsible for purchasing goods and services, processing payments to vendors, and managing contracts. They aim to obtain the best value for the university while adhering to procurement policies and regulations.
• Payroll Services: Processing payroll for all university employees, ensuring accurate and timely payments, and complying with all applicable tax laws and regulations are essential responsibilities.
• Grant and Contract Accounting: Managing the financial aspects of sponsored research and other grant-funded projects is a specialized function. This involves tracking expenditures, ensuring compliance with grant terms, and preparing financial reports for funding agencies.

Compliance and Internal Controls

The K-State Finance Office is committed to maintaining a strong internal control environment to safeguard university assets and ensure compliance with federal, state, and university regulations. This includes developing and implementing policies and procedures, conducting internal audits, and providing training to employees on financial matters.

Impact on the University Community

The Finance Office's work directly impacts the entire K-State community. By effectively managing the university's financial resources, the office enables academic departments to provide quality education, researchers to pursue groundbreaking discoveries, and students to access the resources they need to succeed. It plays a vital role in supporting the university's overall mission of teaching, research, and service.

Accessing Information and Services

The Finance Office provides a variety of resources and services to the K-State community, including online access to financial reports, budget information, and procurement guidelines. Faculty, staff, and students can also contact the office directly for assistance with financial matters. They are dedicated to providing excellent customer service and supporting the financial well-being of Kansas State University.