Stephen F. Austin State University Finance Department

The Stephen F. Austin State University (SFA) Finance Department plays a vital role in the financial health and stability of the university. Its primary responsibility is to manage and safeguard the financial resources entrusted to SFA, ensuring they are utilized effectively and efficiently to support the university’s mission of education, research, and public service.

Key Responsibilities

The Finance Department’s core functions encompass a wide range of activities, including:

• Financial Reporting: Preparing accurate and timely financial statements in accordance with Generally Accepted Accounting Principles (GAAP) and state regulations. This includes managing the general ledger, reconciliations, and year-end closing processes.
• Budget Management: Assisting in the development, monitoring, and execution of the university’s annual budget. This involves working closely with various departments and units to allocate resources effectively and ensure adherence to budget guidelines.
• Accounts Payable: Processing payments to vendors, suppliers, and other entities in a timely and accurate manner. This includes verifying invoices, ensuring proper approvals, and maintaining accurate records of all disbursements.
• Accounts Receivable: Managing the collection of payments due to the university, including tuition, fees, and other revenue streams. This involves billing, collecting, and reconciling accounts receivable balances.
• Payroll: Administering the university’s payroll system, ensuring accurate and timely payment of salaries and wages to faculty, staff, and student employees. This includes processing tax withholdings, deductions, and benefits contributions.
• Cash Management: Managing the university’s cash flow, ensuring sufficient funds are available to meet operational needs. This involves monitoring bank accounts, investing excess funds, and managing short-term borrowing.
• Compliance: Ensuring compliance with all applicable federal, state, and university regulations and policies. This includes maintaining internal controls, conducting audits, and reporting financial information to regulatory agencies.
• Grants and Contracts: Providing financial oversight and management for grants and contracts received by the university. This includes ensuring compliance with funding agency requirements, tracking expenditures, and preparing financial reports.

Commitment to Service

The SFA Finance Department is committed to providing excellent customer service to the university community. They strive to be responsive, helpful, and knowledgeable in assisting faculty, staff, and students with their financial needs. They maintain open communication channels and offer training and resources to promote financial literacy and understanding throughout the university.

Contact Information

For specific inquiries, individuals can typically find contact information for various teams within the Finance Department on the SFA website. These teams may include Accounts Payable, Payroll, Budgeting, and the Controller’s Office.

Continuous Improvement

The Finance Department is dedicated to continuous improvement and strives to enhance its processes and services through technology upgrades, staff development, and regular reviews of its operations. By embracing best practices and seeking innovative solutions, the department aims to optimize its performance and contribute to the overall financial success of Stephen F. Austin State University.