University Financial Services
Welcome to University Financial Services (UFS). Our organization represents the core administrative offices of the University of Kentucky under the Executive Vice President of Finance and Administration (EVPFA). We are happy to serve your needs The breadth of our mission is vast and varied; aimed to support the many short and long-term goals of the university community. Housed within the Peterson Service Building our eleven offices serve as the first point of contact for all customers, departments, and organizations internal and external to the university.
We hope that you thoroughly explore our website. Each of our departments manage a page that details the scope of their mission. You can find easy answers to your questions by visiting our general FAQ page for UFS, or by visiting the FAQs within each department’s individual page. If you still have questions, our staff are always available to answer your questions. Here are brief overviews of a few departments within our organization:
Underpinning the focus our operation, the Accounting and Financial Reporting Services serves to provide the mechanisms whereby all financial transactions are processed, recorded, and reported. Our offices are responsible for facilitating and maintaining general ledgers (GL), revenue, expense, gift, land-grants, federal grants, agency, and capital project accounts. We are responsible for the preparation of the quarterly and annual financial statements, which are integral to monitoring the long-term health and prosperity of the University of Kentucky.
Research Financial Services oversees the financial reporting and compliance requirements of all externally sponsored projects. We exist to facilitate the management of funds provided to the University by outside entities, in compliance with relevant guidelines, for the purpose of continuing research. Sponsored projects support the overall research mission of the University and outcomes gained from these research endeavors can be used to benefit the Commonwealth of Kentucky, the nation and the world.
University Payroll Services monitors the processing of all biweekly and monthly payroll payments for our extensive university community. We work closely with individual departments, divisions, and administrative units to make sure that all of our employees are paid correctly the first-time. Our group also works directly with individual employees with questions concerning direct deposit, payment reporting (W2, 1042-S, 1099R. etc.), and payroll issues.
The Accounts Payable Services facilitates the disbursement of funds to outside vendors who have done work or services for the university. We have created several payment options that strive to improved productivity, increased accuracy, and limited potential errors. We also provide tax documents such as the 1099 to our vendors.
Treasury Services enables the university to receive money from sources from both inside and outside of our organization. We work closely with our banking partners and government agencies to insure accuracy and protection of confidential information. Merchant Card Services is a subgroup of our unit.
Thank you for visiting UFS. We invite you to delve into our website, and examine all of the services that we can provide for you. We look forward to assisting you.