Finance Division
Welcome to the Finance Division of the Minnesota State Colleges and Universities. Within this site, you will find up-to-date fiscal and facilities information. (read more)
Thanks for visiting!
Laura M. King
Vice Chancellor of Finance and
Chief Financial Officer
Headlines
New Financial Reporting Sharepoint Site
A new Sharepoint site has been created for Financial Reporting projects and will be utilized to store files during Financial Statement and Internal Control preparation. The new site will be demonstrated at upcoming Financial Reporting and Internal Control Documentation webex sessions in April. CFOs and Business Managers have been added to the site membership. New members can be added upon the institution’s request by contacting Barb Ganzer (651-201-1739) or Mike Nordby (651-201-1694).
Internal Control Documentation
External audit teams may begin arriving as soon as late May and in some cases may wish to review this documentation in preparation for the visit. To facilitate the sharing of the documents, each college and university will be asked to upload their updated internal control cycles to the Financial Reporting Unit sharepoint site between April 12th and May 24th. Updated Cycle Templates and a Guide to the Internal Control Project is available on the Financial Reporting Sharepoint site. (You will be asked to login with your StarID after clicking on the link.) Open office hour webexes will be held every Thursday in April and more will be scheduled for May.
Financial Statements Refresher Webex Training (for audited institutions)
Financial Statement preparers from audited institutions should plan to attend one of the following refresher training sessions offered by Financial Reporting. This training is intended to “refresh” participants understanding of the financial reporting process before we head into the “busy season” (We’ll also provide updates about changes to the financial statements that will be implemented in FY13 and in future years.)
- Wednesday, June 5, 2013 9:00 am – 12 noon
Impact of Sequestration on the Title IV Student Financial Assistance Programs by David A. Bergeron, Acting Assitant Secretary
On August 2, 2011, Congress passed the Budget Control Act (BCA) of 2011, which put into place an automatic process of “across-the-board” Federal budget cuts, known as the sequester, to take effect if Congress failed to enact legislation to reduce the Federal deficit. Unless Congress acts by March 1, 2013, these budget cuts will go into effect. The Department is preparing more detailed guidance for students and institutions about how the sequester will affect the Federal Title IV student financial assistance programs. In the meantime, this Electronic Announcement provides the financial aid community with general information on how the sequester will impact those programs. For more details go to:
http://ifap.ed.gov/eannouncements/030113ImpactofSequestrationonTitleIVFSAProg.html
State of Minnesota Economic Outlook: Implication for the System
This link provides a state of Minnesota economic outlook and implications for the Minnesota State Colleges and Universities. The information presented provides a high-level summary of the state budget outlook and the long-term budget issues facing Minnesota. The objective is to provide a short and mid-term environmental scan and to frame the system strategy in approaching fiscal year 2013 and beyond.
Outstanding Requests for Bid Notices
Minnesota State Colleges and Universities have posted bid requests on the State Register.
Click State Register Contracts link and search on: COLLEGES AND UNIVERSITIES, MINNESOTA STATE (MnSCU)
State Register: Contracts & Grants
PDF files FIND field.
If you have questions or comments, please email us (finance@so.mnscu.edu) or refer to the staff directory link at the top of this page for additional contact information.
