Finance at the University of Waterloo
The University of Waterloo is both a Registered Charity as well as a member of the Ontario Broader Public Sector. As such, we have more stringent requirements and greater oversight than may exist in other organizations. Our financial transactions should be fully transparent. All employees (including both staff and faculty) of the University should keep in mind that all expenses undertaken on behalf of the University must represent a prudent use of public funds and be consistent with our purpose which is “the pursuit of learning through scholarship, teaching and research.”
If there is ever a question of whether an action or an expense is appropriate, we encourage you to contact Finance in advance. There may be unforeseen risks or implications at a broader University level that must be considered. Please see the Finance Groups and Responsibilities document for a chart showing the Finance Department’s management structure and the responsibilities of each of the different groups represented.
Finance's primary roles and responsibilities
- Develop and maintain appropriate financial accounting methods and processes
- Maintain adequate financial internal control procedures for acquisition, retention and disposal of University's physical assets
- Maintain adequate internal control procedures for University's assets, liabilities and finances
- Invest University funds within established approved guidelines
- Participate in development and maintenance of annual operating budget
- Prepare the annual audited financial statements
- Perform sample audits and post-audit/reviews of University business processes and transactions
For all other non-student Finance related activities please see the Finance Resources for Staff and Faculty website (WatIAM credentials required to log in).