The University of Notre Dame Finance Department: Stewardship and Strategic Support

The University of Notre Dame’s Finance Department plays a critical role in ensuring the institution’s financial health and supporting its mission of teaching, research, and service. Its core function is to manage the University’s financial resources responsibly and transparently, aligning financial strategies with the University’s overall strategic plan.

The department encompasses a broad range of responsibilities, including:

• Financial Planning and Analysis: Developing long-term financial forecasts, managing the University’s budget, and providing insightful analysis to inform decision-making across all departments and colleges. This includes creating models for tuition revenue, operating expenses, and capital projects.
• Accounting and Reporting: Maintaining accurate financial records, ensuring compliance with accounting standards and regulations, and producing timely and reliable financial reports for both internal and external stakeholders. This involves managing the general ledger, accounts payable and receivable, and preparing the University’s annual audited financial statements.
• Treasury Management: Managing the University’s cash flow, investments, and debt portfolio. This includes optimizing investment returns while adhering to prudent risk management principles, and securing financing for capital projects.
• Tax Compliance: Ensuring compliance with all applicable federal, state, and local tax laws and regulations. This involves preparing tax returns, managing audits, and advising on tax implications of various transactions.
• Procurement Services: Overseeing the University’s procurement processes, ensuring efficient and cost-effective acquisition of goods and services. This includes negotiating contracts, managing vendor relationships, and promoting sustainable procurement practices.
• Risk Management and Insurance: Identifying and mitigating financial and operational risks, and managing the University’s insurance programs. This involves assessing potential risks, developing mitigation strategies, and ensuring adequate insurance coverage.
• Controllership: Establishing and maintaining a strong internal control environment to safeguard the University’s assets and ensure the integrity of financial information. This involves developing and implementing accounting policies and procedures, monitoring compliance, and conducting internal audits.

The Finance Department strives to provide excellent customer service to the University community, offering training and support on financial matters. They work closely with academic and administrative units to ensure they have the resources and information they need to manage their budgets effectively.

Increasingly, the department leverages technology to streamline processes, improve efficiency, and enhance data analytics capabilities. This includes implementing enterprise resource planning (ERP) systems and utilizing data visualization tools to provide real-time insights into financial performance.

Ultimately, the Notre Dame Finance Department is committed to being a strategic partner to the University, supporting its mission by providing sound financial stewardship and enabling the institution to achieve its ambitious goals.