NJII Financial Operations

The Office of NJII Financial Operations was established to coordinate the overall budget and financial administration of NJII in collaboration with NJII’s CEO and COO. This includes business planning, organizing, directing, coordinating, and successfully implementing and managing all financial functions of NJII.  

NJII Financial Operations works closely with all NJIT Finance departments, including General Accounting, University Budgeting, Payroll, Purchasing, Accounts Payable, well as the NJIT Research, Risk Management, Human Resources and General Counsel Offices (NJIT’s Support Offices), to support the financial operations of the NJII departments/business units.  NJII Financial Operations insures that all financial activity is in compliance with Generally Accepted Accounting Principles (GAAP), federal and state regulations, granting agencies requirements (CFR), and in accordance with university policies.

 

KEY FUNCTIONS:

  • Serve as facilitators and expeditors to assist NJII’s CEO, COO and business unit leaders in resolving and/or removing financial operational obstacles
  • Serve as the general accounting office for NJII
  • Coordinate NJII business activities & plans with all NJIT Finance and Support Offices
  • Assist NJII’s CEO, COO & business unit leaders in developing short & long term business plans
  • Assist NJII business units leaders in analysis of proposed opportunities prior to presentation to management & approval of plans
  • Prepare budget & financial management reports; including monthly budget updates, quarterly & annual financial statements, and NJII & NJIT Board reports
  • Project & manage NJII’s cash flows and report variances to NJIT & NJII management
  • Assist business unit leaders with grant budget development
  • Coordinate grant sub-contract & task-order accounting between NJII & NJIT
  • Serve as liaison to external auditors for annual financial statement & compliance audits
  • Prepare annual Form 990 & other required tax filings
  • Review & assess proposed NJII business opportunities and present results to NJII & NJIT management
  • Provide on-going review, analysis & reporting of fiscal year projections to monitor status of success of current strategies; providing recommendations to NJII & NJIT management to address variances
  • Develop & implement operating policies & procedures
  • Ensure compliance with GASB, GAAP, Federal & State tax, and grant uniform guidance rules & regulations
  • Validate & monitor proper Banner access & security