The Vice Presidency of Financial Affairs services the three university institutions of the Ana G. Méndez University System, the Central Administration, System TV and Virtual University. The following offices are attached to the Vice Presidency: Accounting, Analysis and Budget, Disbursements, Central Economic Aid, Collections and External Funding.
The statutes of the University System establish the following as duties and responsibilities of the Vice Presidency of Financial Affairs:
- Disposal of and safekeeping of securities.
- Issue checks with attention to the signature and justified payment requirements.
- Deposit the funds in accounts and investments of institutions approved by the Board of Directors.
- Maintain a proper accounting system.
- Maintain a record of securities and properties.
- Maintain a budget management system.
- Provide information to external auditors.
- Recommend fiscal policies to achieve financial goals.
- Establish, evaluate and maintain internal control systems.
- Ensure compliance with federal and state laws, regulations and provisions related to the fiscal operation of the institution.
- Monitor the status and changes in value of the investments and report to the Board of Directors periodically.
- Annually present a work plan, budget and achievement report for its evaluation…
Facilitate the management of institutional economic resources to support the operations and make the development of AGMUS feasible through the planning and control of the fiscal resources and ensure compliance with the respective policies, rules and regulations.
By 2015, AGMUS will be an institution of financial strength and stability with a reduced debt level, proper financial reserves and greater income diversification. This will enable the System to protect its financial reserves to maintain economic cash flow so that the dependence on external sources is limited to a minimum. It will also provide it the necessary flexibility to manage changes that may arise in the economic environment.