Accounting & Finance
The Foundation's Accounting and Finance Team oversees a broad range of financial services for the benefit of the Foundation, University of Virginia and University-related foundations.
Internal Finance Functions
The Foundation's Accounting and Finance Team is responsible for providing debt management, cash management and investment oversight for the Foundation. The team is also responsible for financial transaction processing, account reconciliations, fund transfers, budgeting, financial reporting, property accounting, gift annuity administration and all accounts receivable and payable.
The Accounting and Finance Team also provides assistance with investment management and accounting activities for several University of Virginia-related foundations. Assistance with all compliance matters relating to the foundations is also offered, including understanding and implementing Uniformed Prudent Management of Institutional Funds Act (UPMIFA), providing guidance on the Foundations' compliance and internal control matters, coordinating the audit process and assisting with state solicitation registrations.
Specific Services Provided:
- Preparation of financial statements
- Receipt and disbursement of funds
- Bank and investment reconciliations
- Assistance with asset and cash management
- Payroll and Benefits Administration
- Management of year-end audits
- Special consultation
- Budget Assistance