The Financial Reporting Department prepares a comprehensive Annual Financial Report of the University of Houston System on an annual basis. This report is prepared in compliance with GAAP, GASB, Texas Government Code, and the Annual Financial Reporting Requirements established by the Texas Comptroller of Public Accounts. While the University’s Annual Financial Report is not audited individually, the information submitted to the State Comptroller is included in the State of Texas Comprehensive Annual Financial Report which is audited annually by the State Auditor, who will then express a formal audit opinion on the Statewide CAFR.
We are also responsible for writing and coordinating segment auditing contracts for departments within the university that are required to be audited. These audits include: Athletics (NCAA), Houston Public Media (KUHT & KUHF), Endowments, UH Charter School, and the Cancer Prevention Research Institute of Texas (CPRIT). While the auditors work directly with these segment areas, we serve as central facilitators to ensure that the audits are progressing in a reasonable and timely manner.
Our department also monitors policy compliance for federally funded service center charges at University of Houston. For more details, click on the Cost Accounting link at the upper right of this page.
Financial Reporting staff completes many financial surveys throughout the year, such as U.S. News, IPEDS, SACUBO Benchmarking, and others. We are also called upon to gather historical, comparative, or analytical information for departments and upper management.