CSUSB Finance Department Overview

CSUSB Finance Department: Stewards of Fiscal Responsibility

The Finance Department at California State University, San Bernardino (CSUSB) plays a crucial role in managing and safeguarding the university’s financial resources. As stewards of these funds, the department ensures the university operates efficiently, effectively, and in compliance with all applicable laws, regulations, and policies. The department supports CSUSB’s academic mission by providing essential financial services to students, faculty, staff, and the broader university community.

Core Functions and Responsibilities

The Finance Department encompasses a wide range of functions, all working in tandem to maintain the university’s financial health. Key areas of responsibility include:

Accounting and Financial Reporting: This area is responsible for maintaining accurate and up-to-date financial records, preparing financial statements, and ensuring compliance with Generally Accepted Accounting Principles (GAAP). This includes managing the university’s general ledger, accounts payable, accounts receivable, and fixed assets.
Budgeting and Planning: The department assists in the development, monitoring, and execution of the university’s annual budget. This includes working with various departments and divisions to develop budget proposals, analyzing financial data, and providing guidance on resource allocation. They also oversee long-term financial planning to ensure the university’s sustainability.
Payroll Services: The Payroll Services team is responsible for processing payroll for all university employees, ensuring timely and accurate payments, and complying with all applicable tax laws and regulations. This includes managing employee benefits, deductions, and reporting requirements.
Procurement and Contracts: This area oversees the university’s procurement processes, ensuring that goods and services are purchased in a cost-effective and compliant manner. They manage vendor relationships, negotiate contracts, and ensure adherence to university policies and state regulations.
Treasury Management: The Treasury Management function is responsible for managing the university’s cash flow, investments, and debt. This includes monitoring bank accounts, investing excess funds, and ensuring adequate liquidity to meet the university’s financial obligations.
Student Financial Services: This area handles student tuition and fees, financial aid disbursement, and student account management. They provide students with information and resources to help them manage their finances and navigate the financial aspects of their education.

Commitment to Service and Transparency

The CSUSB Finance Department is committed to providing high-quality service to all its stakeholders. They strive to be responsive, knowledgeable, and helpful in addressing financial inquiries and concerns. The department also emphasizes transparency in its operations, providing clear and accessible information about the university’s finances. They regularly publish financial reports and participate in university-wide committees to ensure that financial information is readily available to the campus community.

Utilizing Technology and Best Practices

The Finance Department continually seeks to improve its processes and utilize technology to enhance efficiency and effectiveness. They leverage financial management systems to automate tasks, improve data accuracy, and streamline workflows. The department also adheres to best practices in financial management and internal controls to safeguard the university’s assets and ensure compliance with all applicable regulations. By embracing innovation and continuous improvement, the CSUSB Finance Department strives to be a model of financial excellence within the California State University system.