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Office of Financial Services

Formerly The Office of the Treasurer

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Mission Statement

The Office of Financial Services is committed to providing high-quality services to the campus community by being excellent stewards of University funds to maximize a student’s educational experience.

Vision

The Office of Financial Services will provide current, comprehensive and accurate information about the financial status of the University. To promote the vision and goals of the University, we will create an atmosphere that encourages continuous quality improvement necessary to meet the business and financial needs of the campus community in a pleasant, professional and efficient manner.

Office Overview

Bank Reconciliations
Business Continuity
Debt Management
Deferred Gift Administration
Endowment Fund Accounting & Reporting
Enterprise Risk Management and Insurance
Foundation Administration
Office of the University Bursar
Treasury Administration, Accounting & Reporting
Treasury Management

Business Continuity

Office of the University Bursar

Student Academic Services Building 2nd Floor, 281 West Lane Ave

Accounts Receivable
Accounts Receivable manages the collection of delinquent outstanding debts owed to the university; i.e., overdue tuition fees, returned checks, and various service bills. In addition, legal matters associated with the collection of these receivables are handled. The accounting oversight of the A/R accounts are the responsibility of the Student Accounting and Reconciliation area.

Fees
The Bursar’s Office serves the University through the collection of fees, both academic and non-academic, which include tuition, instruction and lab costs, residence and dining charges, and student insurance. This office interfaces with other areas to assess student related payments and outstanding charges. It also disburses non-University scholarships and private loans, and produces student refunds for excess aid from non-University, University-based, and Federal aid programs. This office manages the Tuition Option Payment Plan (TOPP), an alternative fee payment option and administers third-party billing for sponsored students.

Student Loan Services
This area oversees the disbursement, maintenance and collection of all University and Perkins/Health Professions loans issued to Ohio State students. In addition, it serves as liaison between The Ohio State University and the Ohio Attorney General, external collection agencies, and special legal counsel associated with the collection of past due campus-based and university student loans. Governmental reports and audit coordination are performed by the Student Accounting and Reconciliation area.

Bank Reconciliations

Riverwatch Tower – Suite B

This department is responsible for reconciling University bank statements to the University’s general ledger. As part of the reconciliation process, the area contacts University departments regarding outstanding items. Other departments contact this area for information regarding the status of checks that have been issued on various accounts as well as unidentified cash transactions in financial investigations.

Debt Management

Riverwatch Tower – Suite B

Debt Management is responsible for the collection and disbursement of funds and the accounting for the University’s tax-exempt debt. Payment of principal, interest and bond expenses are made by this area. Financing information is provided to University departments for future debt projects. Departmental repayments are coordinated by Debt Management. Current debt issues are monitored to determine available funds for internal loan purposes. Debt Management coordinates the issuance of bonds, notes and master leases.

Enterprise Risk Management and Insurance

Enterprise Risk Management

Deferred Gift Administration

Riverwatch Tower – Suite B

This department administers the accounting, investing, and financial reporting functions for all University and Foundation charitable remainder trusts and gift annuities; i.e., trusts established by a donor where the beneficiary receives income from the trust during his/her lifetime, but at death the remainder interest transfers to the University or Foundation.

Treasury Administration, Accounting and Reporting

Riverwatch Tower – Suite B

The Treasury Administration produces all monthly and quarterly reports as well as reconciliations for short-term investments, current use, self-insurance funds and petty cash. This unit makes all GL entries for short-term investments, self-insurance investments, merchant service fees, wire transfers and unidentified items. This department processes payments for the Federal Withheld Income Tax and direct lending drawdowns.

Endowment Fund Accounting and Reporting

Riverwatch Tower – Suite B

Endowment Administration administers the fund accounting and financial reporting functions for the University Endowment. This area oversees endowment funds, distributing income to each account at the beginning of each fiscal year and as new gifts are received, during the year. Endowment Administration accounts and reconciles the investment transactions performed by the investment managers for the Long-Term Investment Pool.

Treasury Management

Riverwatch Tower – Suite B

Treasury Management manages The University’s operating fund investments and monitors portfolios and liquidity on a daily basis. This office manages the University’s cash management and banking structure. It is responsible for depositing procedures of University departments. The department manages credit card acceptance by University departments, to include PCI compliance. This department is also responsible for liquidating gifted securities and cash flow forecasting.

Foundation Administration

Riverwatch Tower – Suite B

The Foundation Administration manages all aspects of the accounting and financial reporting functions for The Ohio State University Foundation, a private, not-for-profit corporation established to accept and administer gifts on behalf of The Ohio State University. Real Estate gifts are accepted and liquidated by Foundation Administration.

The Ohio State University

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