Office of Accounting
Financial Reports ensures the financial integrity of the University of Texas at Austin by managing funds in accordance with sound accounting principles and appropriate policies, laws, and regulations, providing accurate and timely reports on these funds, and ensuring costs charged to the university's various missions are properly allocated. This is accomplished by:
- maintaining a high level of understanding of the rules and regulations.
- providing technical assistance to departments.
- preparing the Annual Financial Report (AFR).
- developing overhead rates for organized research, instruction, other sponsored activity, and other special rates. ( e.g., Service Center rates)
We provide a wide range of services to the university community as well as providing financial information to various local, state, and federal entities. Financial Reports is often referred to as the section that sees the big picture because all financial activity of the university, large or small, affects the AFR and the Indirect Cost Recovery Rates.
Financial Reports consists of four teams:
- Capital Assets
- Data Stewardship
- Provide data quality support for data warehouse and financial systems
- Perform financial reporting and analyses projects
- Costing and Analysis
- Service Centers
- Facilities and Administrative (F&A) Rate Proposal
- Special Projects
- Review new laws and policies to determine impact on reporting procedures
- Prepare various financial reports and analyses for both internal and external users
- Prepare Annual Financial Report for UT Austin and UT System Administration
- Prepare Monthly Financial Report for UT System Administration
- Process year-end accounting transactions (year-end accrual entries)