Ysu Finance Dept

The Youngstown State University (YSU) Finance Department is responsible for managing the university's financial resources effectively and efficiently. Their core mission is to provide accurate, timely, and reliable financial information to support the university's strategic goals and operational needs. This encompasses a broad range of activities, from budgeting and accounting to treasury management and financial reporting.

At the heart of the department is the Budget Office, which plays a crucial role in developing and monitoring the university's annual budget. This involves collaborating with various departments and divisions to understand their financial needs, projecting revenues and expenditures, and allocating resources according to university priorities. They work closely with university leadership to ensure the budget aligns with the university's strategic plan and adheres to relevant regulations and policies.

The Accounting Services division is responsible for maintaining the university's financial records and ensuring compliance with generally accepted accounting principles (GAAP). This includes processing invoices, managing accounts payable and receivable, reconciling bank statements, and preparing financial statements. They also handle payroll processing for all university employees, ensuring accurate and timely payment of salaries and wages.

Treasury Management focuses on safeguarding the university's assets and optimizing its cash flow. This involves managing banking relationships, investing surplus funds, and monitoring investment performance. They are also responsible for debt management and ensuring the university has adequate liquidity to meet its financial obligations.

Financial Reporting is another key function of the YSU Finance Department. They prepare a variety of financial reports for internal and external stakeholders, including the university's annual financial statements, reports to the Board of Trustees, and reports to state and federal agencies. These reports provide transparency and accountability for the university's financial performance.

Beyond these core functions, the Finance Department also plays a vital role in supporting the university's various departments and divisions. They provide guidance and training on financial policies and procedures, assist with financial planning and analysis, and offer support for grant management and other special projects. The team consists of dedicated professionals with expertise in accounting, finance, and budgeting. They strive to provide excellent customer service and are committed to upholding the highest standards of integrity and professionalism.

In summary, the YSU Finance Department is essential to the financial health and stability of the university. Through their diligent management of financial resources, they contribute significantly to YSU's ability to fulfill its mission of providing accessible, affordable, and high-quality education to its students.