• Audit and Compliance: Ensuring adherence to financial regulations and internal policies through regular compliance checks.
  • Internal Audits: Providing data/information to requestors conducting internal audits or program/Center/Institute reviews to demonstrate compliance with policies and regulations.
  • Compliance Checks: Reviewing financial processes and transactions for compliance.
  • Reporting: Assisting stakeholders when responding to audit findings and drafting responses, justifications, or with making recommendations.
• Budget Planning and Management: Assisting client units with creating, monitoring, and adjusting their budgets to ensure financial stability and alignment with university goals.
  • Budget Creation: Providing financial details and assistance to the department head for use in their development of budget proposals based on historical data and future projections.  REBS will prepare the annual budget in the FAMIS, PBA, and Workday systems, including processing of the annual merit program, as applicable.
  • Budget Monitoring: Regularly reviewing budget performance and identifying variances, alerting the department head when necessary.
  • Budget Adjustments: Within directed/delegated authority, making necessary adjustments to the budget based on changing circumstances and priorities.
• Corrections to the Accounting System (FAMIS): Create journal entries into the system to reallocate paid expenses from one account to a different account.
  • Departmental Correction Request (DCR): used to move posted payables expense from one account to another within the same System parts.
  • Payroll Cost Transfer (PCT): used to move posted payroll expense from one account to another, can use multiple System parts.
• Expense Management: Monitoring and controlling expenses to ensure they align with budgetary constraints and organizational priorities.
  • Expense Tracking: Monitoring and recording expenses.
  • Expense Analysis: Analyzing expense data to identify trends and opportunities for cost savings.
  • Expense Reporting: Preparing and distributing expense reports.
  • Reduction to Expense/Cash Handling: Processing payments to the university that are intended to be a reduction to a previously paid university expense, or revenue for any unit.
• Financial Analysis and Forecasting: Providing insights and projections based on financial data to support strategic decision-making.
  • Data Analysis: Analyzing financial data to identify trends and insights.
  • Forecasting: Developing financial forecasts based on historical data and future projections.
  • Reporting: Presenting analysis and forecasts to stakeholders.
• Financial Reporting: Preparing and distributing regular financial reports
  • Data Collection: Gathering financial data from various sources.
  • Report Preparation: Compiling and formatting financial statements and reports.
  • Report Distribution: Distributing reports to relevant stakeholders.
  • Data Maintenance: Maintaining metadata in Laserfiche repository for various financial reporting usages and other compliance requirements.
  • Performance Based Budgets: Provide monthly financial Performance Based Budget reports for department heads to track spending and use of funds.  Coordinate with clients & stakeholders on the preparation and submission internal grant reports, and Performance Based Budgets. 
• Financial Training and Support: Providing training and support to units on financial processes, tools, and best practices.
  • Training Development: Creating training materials and programs.
  • Training Delivery: Conducting training sessions for staff and stakeholders.
  • Support Services: Providing ongoing support and assistance with financial processes.
• Inventory Control: Maintaining controlled assets within the accounting system
  • Creation of the asset, in coordination with the purchasing department.
  • Transfer of the asset so it appears correctly within the departmental control table as it may not belong to the purchasing accounts’ department.
• Monthly Financial Accounts Reconciliation/Verification: Ensuring that the financial records of the department(s) are accurate, compliant and consistent.  
  • Data Collection: Gather all relevant financial records, including account statements and internal accounting records.
  • Comparison: Compare the internal records with external statements to identify any discrepancies.
  • Investigation: Investigate the discrepancies to determine their cause.
  • Correction: Make necessary adjustments to rectify any errors found during the investigation.
  • Reporting: Prepare a detailed report on the reconciliation process, including any discrepancies found and the actions taken to correct them.
  • Review: Conduct a final review to ensure that all records are accurate and consistent.
• Moving Funds Between Accounts: Moving funds from one university account to another university account of a similar type.
  • Departmental Budget Request (DBR): used to move funds within the same fund-type, and the same System part.
  • Equity Transfer: used to move funds between System part.
• Payroll Costing Allocations: Assign cost allocations for payroll services.
  • Payroll Cost Assignment: Within Workday, assign costs to specific project-, department-, or activity-accounts, as appropriate and allowable, at the behest of the client or SRS.
  • Cost Analysis: Analyzing cost data to ensure accuracy and efficiency, making recommendations for best use of funds.
• Rate Studies: Conducting rate studies for units that bill for services to ensure fair and accurate pricing.
  • Cost & Analysis Partner: Assist the Service Center with maintaining services and operating within the constraints of the Cost & Analysis office’s guidelines.
  • Data Collection: Gathering data on costs and usage for services.
  • Rate Calculation: Calculating rates based on collected data and established methodologies, in cooperation with the Service Center.
  • Rate Review: Reviewing and adjusting rates as necessary to ensure accuracy and fairness.
• Risk Management: Identifying and mitigating financial risks to protect the organization’s assets and reputation.
  • Risk Identification: Identifying potential financial risks, seeking support and guidance from the authority, the Division of Finance & Business Services.
  • Risk Assessment: Assessing the likelihood and impact of identified risks, as needed.
  • Risk Mitigation: Developing and implementing strategies to mitigate risks.
• Student Payments: Entry of the scholarship, stipend, tuition & fee assistance payments into the university system(s) for enrolled students who are awarded by a sponsoring DOR department.
• Sponsored Research: Assisting Sponsored Research Services (SRS) with the administration and reporting of sponsored research projects.
  • Reporting: Coordinate with SRS on the preparation and submission of sponsored grant reports.
• Travel, Accounts Payable and Receivables: Managing the processing of invoices, payments, and receivables to ensure timely and accurate financial transactions.
  • Requisition & Invoice Processing: Receiving, verifying, and processing requisitions and invoices for payment and/or receivables through the Laserfiche portal, and entering information into the AggieBuy or iPayment systems.
  • Payment Card Processing: Creating non-travel expense reports on behalf of the cardholder, reviewing, and routing for approvals within Emburse.
  • OneCard Requests:  Prepare Laserfiche request form on behalf of the cardholder to request a university issued OneCard, with either a travel capability or a non-travel capability, or both.
  • Travel Pre-Authorization Processing: Reviewing and approving traveler Pre-Authorizations, ensuring proper routing to the necessary approvers.
  • Travel Expense Reports: Reviewing and approving traveler (or delegate) prepared expense reports.  The client is responsible for assigning charges to the proper internal categories for the Performance Based Budget, if applicable.
  • Credit Limit Changes:  Use Citibank Administrator access to increase or decrease OneCard spending limits for upcoming travel or non-travel expenses that exceed existing authority.
• Texas A&M Foundation Account Management: Managing the organization’s accounts with the Texas A&M Foundation to optimize the use of donor funds while minimizing risks.
  • Account Set-up: Establishing and maintaining accounts with the Texas A&M Foundation.
  • Fund Management: Managing and monitoring fund allocations and expenditures.  This includes processing vouchers to be paid directly from the Foundation or could be transferring funds from the Foundation to the university for spending.
  • Reporting: Preparing and providing regular financial reports to stakeholders for funds held at the Foundation.
• Vendor Contract Administration: While our clients are responsible for submitting contracts to FMO through Aggiebuy, we have business responsibilities that keep us involved.
  • Provide the purchasing department with instructions for submitting vendor contracts to FMO, such as the Hotel Addendum, and the Facility-Use Addendum, and delegated purchasing authority, etc.
  • Monitor existing contracts for proper billing, upcoming expirations, terms & conditions fulfilled, etc…
• Vendor Set-up: Provide vendors with the university resources for set-up in university system(s) for payment processing.
• VPR Internal Grants: Manage the financial aspects of the Division of Research’s internal grants initiatives and awards.
• VPR Program Development funds: Manage the financial aspects of the Division of Research’s program development initiatives and awards.

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