Financial Accounting & Reporting Services

Our Responsibilities

Our responsibilities include:

  • Maintain the University’s Oracle accounting and financial reporting systems.

  • Oversee security access control to Oracle general ledger system accounts and web-based report distribution.

  • Properly record the University’s assets, liabilities, net assets, revenues, and expenses in accordance with applicable laws, rules, regulations, University policies, and donor requirements.

  • Edit and post all general ledger activity to the Oracle general ledger system.

  • Review and post journal entries to the Oracle general ledger system.

  • Schedule and coordinate month-end and year-end general ledger closings.

  • Program Oracle Financial System Generator reports.

  • Prepare the University’s Annual Financial Report in accordance with Generally Accepted Accounting principles established by the Governmental Accounting Standards Board, and the Supplement to the Annual Financial Report in accordance with modified accrual accounting.

  • Prepare information for the State of Iowa’s Comprehensive Annual Financial Report.

  • Prepare numerous financial reports such as the Department of Management Report, Cash Management and Investment Report, Capital Project Final Reports, NACUBO Endowment Report, and IPEDS Report, NCAA Agreed Upon Procedures, FISAP, Bondholders Reports, Information for Bond Rating Agencies, Board of Regents Motor Vehicle Self-Insurance Report, State Escheat Reports, and the State Salary Book.

  • Advise and assist management of all levels by providing historical and projected financial information. Prepare financial analyses as required for decision-making.

  • Serve as consultant to University employees and managers regarding accounting policies and procedures and general financial management.

  • Support the issuance of revenue bonds to finance academic buildings and enterprise revenue bonds.

  • Manage University debt.

  • Manage and invest the University’s cash and investments in accordance with Board policy and State law.

  • Record investment transactions using Axys software.

  • Draw state and federal funds including grant funds.

  • Calculate and collect indirect cost recovery.

  • Prepare Indirect Cost Proposal for the Department of Health and Human Services.

  • Monitor fund balances.

  • Balance and reconcile numerous balance sheet accounts.

  • Serve as point of contact with external auditors and coordinate external audit activities including responses to audit comments and recommendations.

  • Prepare the bank reconciliation.

  • Oversee foreign study institute accounts.

  • Safeguard University assets through the implementation of a system of internal accounting controls.

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Date Updated: May 19, 2015