International Finance participates in the university’s budgeting process. International Finance works with various programs/campuses on the budgeting process as each process is unique to each program/campus based on the agreement for each program. Once the budget model is approved, the budget is submitted to the sponsoring organization for final approval.
Budgets and forecasts are uploaded to Oracle for the various international programs in accordance with the Budget Office deadlines.
International Finance coordinates cash management for, but not limited to, the following areas: oversight and management of cash activities such as invoice requests and payments, student tuition receipts, coordinating entry of Accounts Payable and Accounts Receivable transactions, and miscellaneous cash operations.
International Finance also manages international relationships between CMU and our preferred international banks.
International Finance works within the Finance Division for the accounting, closing, and financial reporting of all international entities. International Finance performs the international financial close in accordance with the Business Systems and Services Closing Schedule.
International Finance initiates reporting, reconciliation, and analysis while adhering to the Controller’s Office schedule. The financial statements of the international entities are prepared by International Finance and submitted to both the Controller’s Office as well as to the sponsoring organizations in accordance with each program's contractual agreement.
International Finance is also responsible for coordinating the audit for all international locations where required.