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Towson University Finance Office

The Towson University Finance Office is responsible for managing the university’s financial resources and ensuring compliance with all applicable laws, regulations, and policies. The office plays a crucial role in supporting the university’s academic mission by providing essential financial services to students, faculty, and staff.

Key Functions and Responsibilities

• Budgeting and Planning: The Finance Office develops and manages the university’s annual operating budget, working with various departments to allocate resources effectively. This involves forecasting revenues, controlling expenditures, and ensuring financial sustainability.
• Accounting and Reporting: Maintaining accurate financial records and producing timely and reliable financial reports are core functions. This includes managing accounts payable, accounts receivable, and the general ledger. The office also prepares financial statements for internal and external stakeholders, including audits.
• Student Financial Services: A significant portion of the Finance Office’s work involves assisting students with their financial obligations. This encompasses tuition billing, payment processing, refunds, and managing student accounts. They often work closely with the Financial Aid Office to coordinate student financial support.
• Procurement: The office oversees the procurement of goods and services for the university, ensuring that all purchases are made in accordance with established policies and procedures. This includes negotiating contracts with vendors and managing the bidding process.
• Payroll: Processing payroll for all university employees is another vital function. This involves calculating wages, withholding taxes, and ensuring timely and accurate payments. They also manage employee benefits and related deductions.
• Treasury Management: The Finance Office manages the university’s cash flow and investments, ensuring that funds are available when needed and that investments are managed prudently.
• Compliance: Ensuring compliance with all relevant laws, regulations, and university policies is a top priority. This includes monitoring financial transactions, conducting internal audits, and implementing internal controls to prevent fraud and errors.

Contacting the Finance Office

Students, faculty, and staff can typically access the Finance Office through various channels, including:

• In-person: The Finance Office is typically located in a designated building on the Towson University campus. Specific location details can be found on the university’s website.
• Online: The Towson University website provides access to online resources, forms, and contact information for the Finance Office.
• Phone: Contact information, including phone numbers for specific departments within the Finance Office, is usually available on the university’s website.

By providing efficient and effective financial services, the Towson University Finance Office plays a critical role in supporting the university’s mission of providing a high-quality education and fostering a thriving academic community.

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