FAQs
What is Finance & Business’s mission statement?
Finance & Business is a service organization that provides support to students, faculty, staff, and the public. It is responsible for the planning, management, and accountability of the University’s financial, physical, and human resources.
What units comprise Finance & Business?
Finance & Business encompasses nine administrative areas units and affects every aspect of the University.
Auxiliary and Business Services (ABS) - A&BS provides hospitality, event management, student residence services, and business and support services for the University community and the public at large. A&BS employs approximately 1,200 employees and 3,000 part-time employees across the University system. A&BS is directly responsible for the operation and maintenance of The Bryce Jordan Center, The Nittany Lion Inn, and The Penn Stater Conference Center Hotel. A&BS also oversees Housing and Food Services, which offers services at University Park and nine other Penn State locationscampuses. Transportation Services, also underanother unit of A&BS, oversees parking facilities and parking permit distribution, as well as providing vehicles for official University travel and overseeing an intra-campus transportation system. The divisionTransportation Services has two subdivisions: Fleet Operations and the Parking Office.
The Office of the Corporate Controller - This unit is responsible for receiving and disbursing all cash and maintaining appropriate accounting records for these transactions. The controller is also responsible for establishing, promulgating, and enforcing guidelines and controls established for receiving and expending all funds, ensuring that expenditures do not exceed budgeted resources, or budget parameters, and developing necessary programs fto protect or protection of the assets of the University and the insurance of these assets.
The Penn State Milton S. Hershey Medical Center - The Finance & Business role at the Penn State College of Medicine and The Milton S. Hersheythe Penn State Hershey Medical Center is multifaceted. Members of the Finance & Business organization are responsible for providing financial and human resources services to the College of Medicine. In addition, this group is responsible for the oversight of the 3 million square feet of facilities and 546 acres of land that comprise The Milton S. Hershey the Medical Center, which is located in Hershey, Pennsylvania. The Finance & Business organization also provides on-campus housing, fleet services, and mail services, and operates the University Fitness Center at the Mmedical Ccenter.
The Office of Investment Management (OIM) - OIM oversees the day-to-day management and administration of University investment funds. OIM developssubmits policies and practices as appropriate for achieving investment and spending objectives and submits them to the Penn State Investment Council (PSIC) for its approval.
The Office of Human Resources (OHR) - OHR is a service organization that supports and enhances the University’s vision to become one of the nation’s preeminent public universities. OHR s and is responsible for integrating administrative divisions into the framework of the institution, providing expert advice and counsel to colleges, departments, faculty, and staff, and strengthening positive efforts to attract and retain quality faculty and staff.
The Office of Physical Plant (OPP) - OPP is responsible for the stewardship of all the University’s physical assets. Theseis includes facilities at all the campus locationses of the University as well as at University Park. OPP is responsible for facilities planning, design, and construction, capital budget management, utility engineering, real estate, and environmental health and safety for the University, and maintenance and operations at University Park.
The University Budget Office (UBO) - UBO assists the President and the Budget Task Force in developing, implementing, monitoring, and controlling the University’s annual operating and capital budgets. The office serves as principal staff to the Budget Task Force, preparing all agenda materials and implementing budgetary decisions. The officeUBO also supports the University Planning Council's strategic planning and budget process through by participatingon in deliberations of committees and hearing panels, presentation presenting of essential institutional data, and preparation preparing of various analyses and reports. UBO also serves as the primary office for complying with the University’s central external reporting requirements. The office continues to develop and produce institutional databases to provide the source of official data for both internal and external reporting.
University Police - Thise department is responsible for the protectionng of and service serving to Penn State’s students, faculty, staff, and visitors. In addition, University Police is charged with the protectionng of property and , maintenance maintaining of order, as well as theand enforcement enforcing of both the laws of the Commonwealth and University regulations. University Police has full law enforcement authority.
How many square feet of space is Finance & Business responsible for throughout the entire University?
Penn State's total physical plant includes 1,642 buildings comprising 24 million square feet of space, with a plant replacement value of $3.5 billion on almost 19,000 acres across the sState of Pennsylvania.
What are the goals of the organization?
Finance & Business strives to:
- lead University-wide efforts to increase revenues and improve the efficient use of resources;
- develop a high-quality, diverse work force in Finance & Business to meet current responsibilities and maximize future opportunities;
- provide first-rate Finance & Business services that are efficient, meet budget constraints, and satisfy University service requirements.
The 2005-2008 Key Initiatives include:
- Diversity
- e-Business
- Enterprise Risk Management
- Environmental Stewardship
- Focus on People
- Physical Assets
