The Finance OU is responsible for carrying out financial operations at Med Uni Graz in compliance with guidelines and regulations and according to the principles of lawfulness, economy, efficiency, transparency and expediency. Its objective is to support the Rectorate in budget preparation, annual financial statements and administration of economic affairs. The two departments of the OU are:
The Accounting department is responsible for guaranteeing the systematic recording of all business transactions as part of operations at Med Uni Graz that is required by law. This includes the entry of accounts payable and receivable, the entry of bank statements and cash accounting records, an effective dunning system, payment transactions, asset accounting and inventory management, preparation of and compliance with accounting, depreciation and valuation policies, the creation of monthly and quarterly statements and the annual financial statement as of 31 December of each year as well as required filing of income tax returns.
The Controlling department is responsible for establishing and enhancing a cost control system including a reporting system with the goal of guaranteeing transparency in the raising and use of funds. This involves planning, managing and controlling the global budget and third-party activities. Also included are budgeting and planning processes, the preparation of monthly statements (project evaluations and accruals and deferrals), the creation of target-actual comparisons including analysis and resolution of any discrepancies. Other tasks are checking the calculations for third-party funding, creating projects, providing economic support for them and finalizing projects. Regular standardized internal and external reporting is conducted and a variety of assessments, analyses and reports are created as needed.
