Financial Reporting

Financial Reporting supports the university's planning and decision-making process and operational reporting needs by:

• Providing a team of financial professionals who offer leadership, consultation and support in the areas of financial and capital accounting
• Giving financial analysis and reporting and procedures/policy development
• Developing, analyzing and reporting the month-end, quarter-end and year-end financial statements
• Forecasting and variance reporting for the university board and university administration committees

The team manages the financial systems administration for operating and balance sheets accounts, including the chart of accounts, financial reporting systems and the non-financial classifications and requirements information. The team works in partnership with faculties and departments to ensure the understanding of and compliance with financial policies and procedures, and that funds are accounted in accordance with those policies.

The Internal Controls and Compliance team works with stakeholders across the university to develop and maintain a strong control environment, designed to mitigate financial risks and provide reasonable assurance that the accounting records are a reliable basis for the preparation of the consolidated financial statements. In addition, the team manages the Payment Card Industry (PCI) compliance program by working closely with vendors, merchants, and others on campus who accept and facilitate credit card payments to ensure specific industry compliance requirements are met.