In support of the University’s mission, Business Financial Services is committed to business integrity and to providing high-quality and prompt customer services to our students, faculty, staff and the community that supports our University.
Business Financial Services is responsible for accounting services and property management of the University and all its auxiliary organizations. Those auxiliary organizations consist of the Cal State L.A. Foundation, Cal State L.A. Associated Students Incorporated, Cal State L.A. University Student Union, Cal State L.A. University Auxiliary Services, and Cal State L.A. Alumni Association. These responsibilities include:
- Ensuring the integrity of fiscal data through establishment of adequate internal controls to safeguard the assets of the University and its auxiliaries.
- Identifying regulations and other fiscal compliance requirements that must be adhered to, and implementing policies and procedures to ensure compliance.
- Financial and compliance reporting to internal and external customers.
- Providing guidance in fiscal matters relating to the operation of the University and its auxiliaries.
- Processing accounting transactions promptly and accurately to meet established reporting timelines.
General Accounting is responsible for collecting and organizing University-wide accounting transactional data to provide managerial and operational information to the University and its auxiliary organizations, the Chancellors Office and the State Controller’s Office. Functions include ensuring the integrity of fiscal data by establishing adequate internal controls, overseeing financial and compliance reporting to numerous internal and external customers, and providing prudent financial guidance and management of the University’s fiscal resources. The unit is responsible for consistent application of relevant controls, policies, procedures, and state and federal laws.
Accounts Payable is responsible for processing and distributing payments of business-related services and expenses for the university and its auxiliary organizations. Functions include verifying, entering and processing data from all vendor invoices, and calculating appropriate payments to include discounts, sales and use taxes and 1099 reporting. In addition, the unit processes all University travel applications, travel claims, and reconciles Business Travel Accounts monthly. The unit is responsible for the consistent application of relevant controls, policies, procedures, and state and federal laws.
Billing and posting payments of non-student related activities for the University and its auxiliary organizations are among the major responsibilities of Accounts Receivable. Functions include verifying the billing document of the internal service centers, preparing and recording revenue or chargeback activities, collecting and posting cash receipts, and assisting the library and payroll departments with collecting on delinquent accounts. The unit is responsible for consistent application of relevant controls, policies, procedures, and state and federal laws.
Auxiliary Accounting processes payments, prepares financial statements and performs accounts reconciliation and bank reconciliation. Auxiliary accounting is one of the essential professional functions provided by the University Controller in support of the University’s overall mission. Other functions include accounts payable, accounts receivable and financial reporting.
Accurately accounting for and performing inventories of property and equipment in a uniform way are the responsibilities of Property Management. Functions include providing accurate accounting of the acquisitions, controls, transfers, and dispositions of the property for the University and its auxiliary organizations Services include tagging equipment, performing inventories and conducting sales of surplus equipment. The unit is responsible for consistent application of relevant controls, policies, procedures, and Chancellor’s Office guidelines.
The University and its auxiliary organizations need to comply with existing state and federal tax regulations, and Tax Compliance Services ensures that occurs promptly and correctly. Functions of Tax Compliance Services include withholding and paying the proper amount of tax, and filing required tax and information returns of the Sales and Use Tax, Nonresident Alien Tax, Unrelated Business Income Tax, and County Possessory Interest Tax. The unit is responsible for consistent application of relevant controls, policies, procedures, and state and federal laws.