Monday, Jan. 30, 2017
As part of a $3.5 billion enterprise, members of the UK community conduct work across a range of disciplines, units, and areas of expertise; but a single idea unites us: Service.
You see this idea through our teaching and learning; diversity and inclusion; and through our discovery, research and creativity. You see it through our promotion of health and our deep community engagement. In the Office of Finance and Administration, we aim to mirror that dedication and focus. We are here to support and serve the University and its students, faculty, staff, alumni, fans and visitors.
We do this through constant evaluation of our functional areas to ensure efficiency and effectiveness, and ultimately, to help members of the UK family better achieve their goals and conduct their work on behalf of our community.
With this in mind, the Office of the Treasurer recently changed its name to University Financial Services (UFS), to better define its role as a service unit to the university community. UFS provides a broad array of financial services to the campus community and has university-wide responsibilities for:
- Treasury, investments, endowments, debt, banking, payroll, accounts payable, travel management, research accounting, cost accounting, property records and student billing and collections.
- Accounting and preparation of internal and external financial reports, including the coordination and oversight of the annual external (independent) audits.
The renaming of the Office of the Treasurer to University Financial Services better represents the office's role at UK – serving the campus by providing comprehensive financial services, preserving university assets and promoting compliance with laws and regulations. The new name represents the multiple departments and functions that require a team approach to service delivery. Many of the departments within UFS have also been renamed, as follows:
- Office of the Treasurer Administration - Financial Services Administration
- General Accounting - Accounting and Financial Reporting Services (includes Capital Assets Accounting, Endowment Accounting, and Benefits Accounting)
- Accounts Payable - Accounts Payable Services
- Sponsored Projects Accounting - Research Financial Services
- Payroll - Payroll Services
- Student Account Services - Student Account Services
- Travel Management Services - Travel Services (new department responsible for all travel needs, including managed travel program and travel reimbursement)
- Treasury Services - Treasury Services (includes Merchant Card Services)
Ultimately, the office's new name aligns with the UFS mission: “to partner with the university community to ensure effective stewardship of resources in support of the university’s mission through value-added guidance and service.”
Please join me in thanking Susan Krauss for her leadership of this important unit.
I encourage you to learn more about the services provided by visiting the UFS’ website at: http://www.uky.edu/ufs/
Eric N. Monday