About Financial Services
About Financial Services
The mission of Financial Services is to provide the University with proactive professional accounting, financial management, financial administration systems, procurement, and other services, utilising modern methodologies and providing accurate and timely management information, whilst satisfying all statutory requirements.
There are various functions within Financial Services including Financial Operations, Financial Accounting, Management Accounting, Finance Systems Support and Procurement.
Under the direction and supervision of the Associate Director, Finance, the operations section provides a professional, prompt and reliable accounting service to the University ensuring the integrity of the data presented in the University's financial accounts and audited financial statements is of the highest quality. The Operations section:
- processes all Accounts Payable (Creditors) and Accounts Receivable (Debtors) transactions, including Student Financials and Cashiering
- processes General Ledger Journals
- maintains the Asset and PAI Register
- reconciles the Bank and other General Ledger accounts
- manages the Investment Portfolio
- provides the University Travel Service
- manages the University's taxation obligations, including GST and FBT.
Under the direction and supervision of the Director, Financial Reporting and Budgets, the Management Accounting section:
- provides the management reporting function
- coordinates, develops and monitors the University budget
- oversees the Activity Based Costing service
- provides cost centre training in budgeting, financial management and data quality control
- assists with developing policy consistent with the Queensland Government's State Purchasing Policy
- develops procedure manuals consistent with approved policies, and provides training/guidance in relation to policies and regulations
Under the direction and supervision of the Director, Financial Reporting and Budgets, the Financial Accounting section:
- prepares the University's annual financial statements and Department of Education financial statistics
- prepares and lodges various financial statutory returns
- develops and maintains the Financial Management Practices Manual
- University end of month and end of year processes, including assisting with reconciliation of General Ledger accounts
- Research reporting
- manages the University's insurance portfolio.
Under the direction and supervision of the Director, Financial Reporting and Budgets, the Financial Systems section:
- develops, maintains, operates and enhances the computerised financial administration systems including PeopleSoft Financials, Assetpro and Spendvision
- monitors system usage and maintain systems security and workflow
- develops and maintain systems reporting
- documents and publishes system and user procedures including administration of the Finance website and SharePoint site
- develops and provides systems user training programs
- provides localised IT support/liaise with ICT division.
Under the direction and supervision of the Strategic Procurement Administrator, the procurement and contracts office:
- supervises the operation, maintenance and enhancement of the University's procurement operation
- implements and supervises Queensland Procurement Policy
- identifies procurement training needs and provides training courses.