Financial management on university and college campuses is generally considered to include the development and management of a variety of financial and asset management policies and procedures, the preparation of a variety of annual financial reports required either by law, funding agreements or other regulatory agencies, and the coordination of the financial administration functions occurring in other parts of the institution. In this capacity, finance often acts a critical bridge to an organization’s Board and Audit Committee which carry a significant burden of responsibility relative to financial viability and integrity of the institution.
It can also include budget planning, treasury, taxation, procurement, and insurance functions. The financial administration of research is generally shared with the research administration function.
The following CAUBO committees deal with financial management issues:
Treasury and Investment Committee
National Procurement Committee