Budget & Financial Planning
The Budget & Financial Planning Office works with all segments of the College to deliver personalized budgetary, financial, operational, and systems advice. We strive to provide accurate and timely monitoring, tracking and projection, and reporting of funds available to the College, maximizing the effectiveness and efficiency of educational and administrative operations to ensure fiscal prudence of College funds.
The accounting team works diligently to record and summarize College financial transactions. Using this data, they perform analysis and validation procedures to ensure the College’s compliance with generally accepted accounting principles. The accounting team also facilitates the annual audit of the College’s financial statements, as well as all required reporting to the Internal Revenue Service (IRS) and other reporting agencies.
The accounts payable team facilitates all disbursements for the College, including check, direct deposit, and wire transfer payments. The team reviews each payment for compliance with College policies, as well as potential tax reporting implications. The accounts payable team also assists the campus community by working with vendors to provide necessary credit references and tax exemption certificates.
The payroll team oversees payroll for all faculty, professional staff, and student employees and provides assistance with direct deposit set up and campus questions related to payroll. The payroll team is also responsible for all federal, state, and local tax withholdings and remittances.
Cash Handling collects and deposits all College funds in accordance with College policies and federal guidelines. In this capacity, Cash Handling is responsible for the safeguarding, recordkeeping, and reporting of all College cash and cash equivalents. Cash Handling provides individualized service by assisting the campus community with deposit services, as well as gift card, check cashing, and cash advances.
Pcard Administration oversees Franklin and Marshall College’s Purchasing Card (Pcard) Program, the purpose of which is to provide authorized College personnel with an additional, efficient purchasing tool. A Pcard is a VISA credit card issued by PNC Bank that can be used to obtain goods and services on behalf of the College and is managed by cardholders through a web-based portal called ActivePay.
The Purchasing team works with all areas of the College to facilitate the requisitioning process for purchases of goods and services. The team provides assistance with all aspects of the process, from set up of new vendors to problem solving and invoice inquiries. The Purchasing team also provides stewardship of College funds by reviewing payments for compliance with College policies and that goods and services have been received prior to issuing payment.
Student Accounts & Billing
The Student Accounts Office assists students in meeting their financial obligation to the College. The team ensures the funds due to the College are billed, deposited and reconciled timely and accurately and in a manner that is compliant with College policy and federal regulations.