Longwood University Finance Office

The Longwood University Finance Office is responsible for managing the university’s financial resources, ensuring accurate and timely financial reporting, and providing essential financial services to students, faculty, and staff. Located in Lancaster Hall, the office plays a critical role in supporting the university’s mission of providing a transformative educational experience.

Key Functions and Services

• Accounts Payable: The office processes payments to vendors, contractors, and employees for goods and services rendered. This includes ensuring proper documentation, adherence to university policies, and compliance with state and federal regulations. They handle everything from invoices for office supplies to travel reimbursements for faculty attending conferences.
• Student Accounts: This area manages student billing, payment processing, and refunds. Students can access their account information, view billing statements, and make payments online through the university’s designated portal. The office also assists students with understanding tuition and fees, payment plan options, and financial aid disbursement.
• Budget Management: The Finance Office assists departments and units in developing and managing their budgets. They provide guidance on budget preparation, monitoring expenditures, and ensuring adherence to budgetary constraints. This involves collaborating with department heads and administrators to allocate resources effectively and achieve strategic goals.
• Financial Reporting: The office is responsible for preparing accurate and timely financial statements, including monthly, quarterly, and annual reports. These reports provide a comprehensive overview of the university’s financial position and performance, and are essential for internal management and external auditing.
• Payroll: The Payroll department processes payroll for all university employees, ensuring accurate and timely payment of salaries and wages. They also handle tax withholdings, deductions, and reporting requirements.
• Grants and Contracts: The Finance Office provides support for the financial management of grants and contracts, ensuring compliance with funding agency requirements and university policies. This includes tracking expenditures, preparing financial reports, and ensuring proper accounting for grant funds.

Contact Information and Resources

The Longwood University Finance Office encourages students, faculty, and staff to reach out with any financial questions or concerns. Contact information for specific departments, such as Accounts Payable or Student Accounts, is typically available on the university’s website. Online resources, including FAQs, policy documents, and forms, are also readily accessible to provide guidance and support.

Commitment to Transparency and Accountability

The Finance Office is committed to maintaining transparency and accountability in its financial operations. They adhere to the highest ethical standards and comply with all applicable laws and regulations. Regular audits are conducted to ensure the integrity of financial reporting and to identify areas for improvement. The office strives to provide excellent customer service and to support the university’s overall financial health and sustainability.