To provide the highest quality of service in support of the institution's educational mission and regain financial equilibrium and ensure adequate reserves are available to achieve financial vitality.
The goal of the University financial structure is to design and maintain an internal control system, to protect the tangible and non-tangible assets of the University against possible loss while establishing timely and accurate financial reporting.
By establishing internal financial and procurement control procedures, will ensure Saint Augustine's University to increase cash flow by ensuring that receivables are collected, payments are disbursed for authorized goods and services actually received or in satisfaction of valid obligations of the University, and interest expense on borrowed funds are minimized and income from invested funds are maximized.
Students receiving outside employer tuition assistance benefits are expected to meet his/her financial obligations at the time of registration.
Our financial reporting goals will provide management, staff, internal and external entities with useful information based on expectations and regulatory requirements. The University financial statements reports and transactional processing will be prepared accurately and in a timely manner in accordance with general accepted accounting principles.
The enclosed accounting policies and procedures have been prepared to provide information and guidance, to ensure that Saint Augustine's University financial services achieves its goals. It is pertinent that every individual take responsibility for adhering to the Accounting Policies and Procedures to build conformity and a standard that will create an environment that expects and promotes quality. The responsibility for ensuring that the policies and procedures are followed belongs to each member of the University, which includes the Business and Finance team.
Internal Auditors under the direction of the Board of Trustees and President will periodically visit each unit in the Business and Finance office to monitor compliance with the policies and procedures enclosed. Their findings will be reported to Management/Directors, Board of Trustees, President and the Chief Financial Officer.
The issuance of accounting policies and procedures will be a continual process. New policies and procedures, or modifications to previously issued ones, if any, will be released quarterly. Issuance of the new policies and procedures or changes to the existing ones will be responsive to changes in generally accepted accounting principles or other external rules and regulations, changes in our business, or input from you. If you have any questions or comments about any of the policies enclosed or have suggestions about other areas which should be addressed, contact the Chief Financial Office and/or Business Operation Development Manager.
Saint Augustine's University Business and Finance Department is under the direction of the Chief Financial Officer, who is responsible for the maintenance of the University's official accounting records and for payments of the University's legally incurred obligations for materials and services.
General Accounting Office - This office is responsible for the daily operations of the Financial Accounting System. Additionally, this office is responsible for depositing cash receipts, administering petty cash accounts, making transfer of funds, distributing daily, weekly, and monthly financial reports, correcting transaction errors, reconciliation, maintaining the asset records of the University and coordinating annual inventories and performing other miscellaneous general accounting functions.
Accounts Payable Office - This office is responsible for payment of the University's invoices for all materials and services. The Travel Section of Accounts Payable is current handled by the Director of Budgeting and Planning.
Procurement Office - This office is responsible for the total procurement functions of the University. Business Services include: central receiving, movable property, duplicating services contract administration and administration of service contracts such as food service, bookstore, janitorial, copying, vending and general concession operations.
Budget/Planning - This office is responsible for preparing the college's annual budgets and appropriation requests. Continued monitoring of all budget activity throughout the year is required to provide accurate information and budget control. The development of financial planning strategies is required to ensure maximum utilization of funds available.
Contracts and Grants Office - This office is responsible to the University and to the funding agencies for the financial and regulatory administration of all contracts and grants awarded to Saint Augustine's University.
Payroll Office - This office is responsible for the preparation of all the University's payrolls, to include compliance with all rules and regulations pertaining to and/or resulting from payroll operation and benefits accounting.
Human Resources - This office is responsible for developing, implementing and managing the University's salary classification plan, employee benefits plan, worker's compensation plan, training and development programs and grievance procedure. They are responsible for recruitment and employment and maintaining the Human Resources Data Base System.
Campus Bookstore - This office is responsible for supplying the campus community with education experience with a complete selection of course books, paperbacks, quality school supplies, imprinted sportswear, greeting cards, gifts and other educational/personal items.
Post Office Administration - This office is responsible for integrating our service with the United State Postal Service to provide courteous, customer-focused and the most cost effective service to the University.
Facilities Management - This office is responsible for designing, maintaining and operating the physical facilities of the University; provide support services and conditions that will further the academic goals and to accomplish this in the most economic manner. These functions are accomplished through the efforts of energy management and safety specialists, electricians, plumbers, carpenters, masons, key technicians, painters, auto mechanics, grounds men, renovations, power plant personnel and custodial personnel.
Central Receiving - This office is responsible for receiving all goods that were purchased by the University in good satisfaction condition. This office is also responsible for Fixed Assets reporting and transactions
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