Financial Operations

Mission Statement

Financial Operations provides fiscal services to the University and serves as liaison with external agencies for fiscal matters. Financial Operations  provides quality customer service to students, parents, employees, vendors and other Longwood constituents while ensuring that all funds are properly received, recorded, expended and reported in accordance with University policies, and State and Federal regulations. The unit is responsible for maintaining the integrity of financial data within the University's finance system and the accurate reporting of financial information.  Financial Operations includes three functional areas:

• Accounting Operations
• General Accounting & Financial Reporting
• Cashiering & Student Accounts (CSA)

Year-End Memo

Year End Memo

Financial Operations Departments

Accounting Operations

The Accounting Operations area is responsible for accounts payable and grant accounting functions.

• Accounts Payable
• Grants - see Office of Sponsored Programs and Research
• Travel

General Accounting & Financial Reporting

The General Accounting & Financial Reporting area is responsible for the integrity and reliability of University financial records, for financial statements, and for University internal controls.  This office is also responsible for ensuring assets are acquired, safeguarded, disposed of, and accounted for in accordance with state and federal regulations, and generally accepted accounting principles.

• General Accounting
• Financial Reporting
• Fixed Assets
• Agency Risk Management and Internal Control Standards (ARMICS)

Cashiering & Student Accounts

The office provides timely and accurate billings to students and general users of  University services, ensures that payments and credits are received and properly applied to each customer's account, and manages accounts receivables.  The CSA office is also responsible for the accurate and timely deposit of all University funds, and establishing banking and credit card processes.