LEXINGTON, Ky. (Jan. 25, 2017) — The University of Kentucky’s Office of the Treasurer has been renamed 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,” said Eric N. Monday, executive vice president for finance and administration.
Many of the departments within UFS have also been renamed, as follows:
• Office of the Treasurer Administration à Financial Services Administration
• General Accounting and Financial Reporting Services
• Accounts Payable Services
• Sponsored Projects Accounting Research Financial Services
• Payroll Services
• Student Account Services
• Travel Management Services
• Treasury Services
UK Treasurer Susan Krauss said the office’s new name better reflects their mission, which is “…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.” Krauss added, “The new name also reflects that our unit is made up of multiple departments and functions, requiring a team approach to service delivery.”