The Office of Financial Affairs has the fundamental responsibility
for coordinating with the institutions on all matters related to
accounting for the management of the System's financial resources,
as well as reporting on its financial condition. The Office
represents the institutions and the USM in fiscal matters with
the offices of the State Comptroller, the State Treasurer, the
Legislative Auditor, and the Department of Budget and Management.
On behalf of the System, the Office engages and coordinates the
activity of the external auditor. The Office handles those
endowment funds of the System for which the Regents have
management and investment authority. The Office has the
responsibility on behalf of the institutions and the System
to plan and conduct the sale of revenue bonds for System
facilities and equipment.