Financial Services

Insert Policy number

POLICY INFORMATION
Major Functional Area (MFA):Finance and Administration
Policy Title: Financial Services
Responsible Executive (RE): VP for Finance and Administration
Sponsoring Organization (SO): Office of Finance and Administration
Dates: Effective Date: July 2007
Annual Review: July 2010

 

  • POLICY STATEMENT

    Under the general supervision of the President, the Financial Vice President is charged with the financial management of the University as approved by the Board. The Financial Vice President is responsible for the maintenance of an accurate accounting of all income and expenditures; recommends policies for the proper utilization of the University's physical and financial resources; maintains all trust accounts in accordance with the conditions under which the funds are accepted; sees that all local accounts are audited at regular intervals by a certified public accountant; and provides adequate financial statements to the President, the Board and other interested publics. The Financial Vice President signs all checks issued by the University and sees that all financial officers and employees are properly bonded.

    The Office of Financial Services, under the direction of the Financial Vice President, initiates payments for charges properly submitted to the University, maintains proper documentation for all payments, and accounts for all transactions; prepares the University payroll; is responsible for the preparation of the University budget, including submission of recommendations to the President for review or revision prior to presentation to the State Board of Education; and has custody of all contracts, leases and other important documents. The office also collects all student fees as well as income from all other sources.

  • AUTHORITY AND RESPONSIBILITIES

    The Financial Vice President has direct supervision of Financial Services and Purchasing, and is responsible for Bookstore, Mail Center and Human Resources.

    • Administrative Personnel Who Report Directly to the Financial Vice President
      • Assistant Financial Vice President

        The Assistant Financial Vice President serves as both line and support staff to the Office of Financial Services. Supervisory responsibilities include the University Bookstore, Post Office, Sponsored Programs, Accounting, and Student Loan collections. The Assistant Financial Vice President serves in an advisory role on financial and business matters to the Office of Financial Services and several areas of the University responsible for auxiliary enterprises.

      • Budget Officer

        The Budget Officer is responsible for developing University budgets within the framework of existing State laws and State Board or University policies, rules and procedures; meeting with academic deans to explain processes of budgeting; coordinating the gathering and compilation of data; participating in decisions regarding budget policies and expenditures; coordinating the organization and preparation of budget documents for presentation to the State Board of Education and legislative committees; coordinating the management of budgets; coordinating the ongoing review and analysis of budget expenditures; acting as budgetary advisor to department chairpersons; and analyzing the formula used by the State Board of Education to allocate funds to the four institutions.

      • Director of Purchasing Services

        The Director of Purchasing Services is responsible to the Financial Vice President for the procurement, receipt, stores warehousing, delivery and control of all University equipment, supplies and services. The department orders and expedites all goods and services in a manner assuring compliance with all purchasing, fiscal, and legal requirements of the State of Idaho and Idaho State University.

      • Controller

        The Controller is responsible for all monies due and payable to Idaho State University from all sources with an appropriate system of receipts to include supervision of the receipt of monies at all collection points; has custodianship and safeguarding of all cash and cash equivalent, and is responsible for deposit of same with designated financial depositories or state agencies with bank deposits to be in the name of Idaho State University. The Controller disburses funds in accordance with established laws, policies and regulations with checks payable from local funds issued in the name of the Financial Vice President; maintains satisfactory records to account for all cash transactions; supervises the activities and/or provides internal control over staff members of the Business Office. The Controller supervises the reporting and personnel functions of the General Accounting; Accounts Payable; Payroll section subdivisions.

      • Director of the Office of Human Resources

        The Director of the Office of Human Resources is responsible for the administration of the personnel program and for the administration of fringe benefit programs.

      • ASISU General Manager

        The ASISU General Manager is responsible for providing financial management for all associated student accounts, ensuring fiscal responsibility, preparing financial reports, and informing others of the financial standing of the association.

        The position reports to the Financial Vice President with evaluation input from the Dean of Student Affairs, the ASISU President, and the ASISU Finance Committee Chair.

 

IDAHO STATE UNIVERSITY

921 South 8th Avenue
Pocatello, Idaho, 83209