Financial Affairs
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. The Office of Financial Affairs is also responsible for preparing the University System's financial statements and tax returns, coordinating the audit process of its financial statements and federal grant programs, as well as providing support for System-wide policy setting in financial matters. 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.
Staff
Expense Statements
Additional Resources
- Financial Statements and Supplemental Schedules
- Single Audit Reports with Reports of Independent Auditors
- Financial Health and Debt Capacity Information
- Comprehensive Annual Financial Report
- University System of Maryland Accounting Practices
- USM Capital Assets and Depreciation Guide Microsoft Word download
- Financial Reporting Information Requirements
- Debt Accounting Information
- Debt Management
- Endowment Reporting
- USM Office Grant Policies
- OLA Audit Process Refresher