1.2.7 Vice President for Budget and Finance

A. Purpose

The following describes briefly the general duties and responsibilities of the Vice President for Budget and Finance.

B. Persons Affected

All personnel reporting to the Vice President for Budget and Finance. Administrative officials under the direction of the Vice President for Budget and Finance include the Budget Manager, Financial Reporting Manager, Director of Financial Services, Director of Human Resources, Office of Institutional Efficiency, and Auxiliary Services.

C. Definitions

Not applicable.

D. Policy

Not applicable.

E. Responsibilities

  1. The Vice President for Budget and Finance is a cabinet-level position that reports directly to the President of the University.  The Vice President will serve as the University’s leader for budget and finance initiatives.  Key responsibilities include serving as the key executive responsible for the administration of accounting and financial reporting, budget preparation and control, preparation of appropriation requests of the state legislature and management of departments in the Division of Budget and Finance.
  2. Primary duties are to:
    1. Operating with the highest level of character, integrity and trustworthiness. 
    2. Advise the President on all budget and financial matters. 
    3. Exhibiting vision, initiative, passion and energy while ensuring the continued financial viability and success of the institution’s strategic plan. 
    4. Providing key oversight for multiple divisions including Financial Services; Institutional Efficiency; Vendor Contract Negotiations; and Human Resources.
    5. Assume institutional oversight and management for the finances, capital budget, and internal controls for the University. 
    6. Continuously improve accounting systems and procedures so that accounting records provide accurate and timely information in accordance with generally accepted accounting principles. 
    7. Ensure the integrity of all accounting and financial reporting in accordance with the reporting requirements of all internal, external and governmental constituencies. 
    8. Provide for accurate and proper receipt, custody, and disbursement of funds belonging to the University.
    9. Ensure the University’s budgetary and administrative processes are aligned with the University’s strategic plan and goals. 
    10. Manage the development, implementation, and continuous monitoring of the annual budget for the University. 
    11. Analyze, forecast, and evaluate spending levels relative to projected annual revenues.
    12. Safeguard the short-term and long-term financial health of UT Tyler. Manage all cash flow as required by The University of Texas System, and develop cash management and effective cash flow projections.
    13. Develop, direct, and manage budgetary controls for the University. 
    14. Lead long-term strategic financial planning, forecasting, and annual budget; determine and set capital structure. 
    15. Ensure timely and accurate completion of the University’s annual financial statements.
    16. Collaborate in strategic partnership with the President and the leadership team to set enterprise-wide strategy, define and identify innovative approaches to achieving these strategic goals, define the financial and non-financial objectives of individual entities and areas, drive operational efficiency, and create a climate of accountability. 
    17. Lead the financial and administrative staff through professional leadership, mentoring, counseling, reorganization and other personnel initiatives. 
    18. Manage the University’s strategic debt plan by establishing prudent, long-term financing plans for the capital needs of the University by working with The University of Texas System personnel.
    19. Perform other duties as prescribed by the President.

F. Procedures

Not applicable. 

G. Review

This document shall be reviewed by the Vice President for Budget and Finance every five years or as the organization or responsibilities change.