The University of Tennessee Foundation, Inc., was created in 2001 to support UT's educational, research and public activities. Since 2011 the Foundation has managed UT's development and alumni affairs programs. As the preferred channel for all private contributions that benefit students and faculty at UT, Foundation staff work with alumni and other prospective donors to secure funds for scholarships, professorships, research, outreach programs and other initiatives. The Foundation has 206 employees and a $30 million annual budget.
The Chief Financial Officer and Treasurer ("Chief Financial Officer") is responsible for the accounting, business and financial affairs of The University of Tennessee Foundation, Inc. ("UTFI").
Reporting Relationships: The Chief Financial Officer reports to the President and Chief Executive Officer ("CEO") of UTFI and is a member of the leadership team for UTFI. The Chief Financial Officer manages the central business office staff of 3 including one direct report, the Director of Accounting. Indirect reports include a Coordinator of Contracts and a Financial Specialist. As Treasurer, a position elected by the UTFI Board of Directors, the Chief Financial Officer also reports to the Board and serves as staff liaison to the Board's Audit and Finance Committees.
Primary Duties: The Chief Financial Officer provides leadership, planning, coordination and management of the accounting, business and financial affairs of UTFI including: 1.Accounting: Accurately maintain UTFI's books, financial records & statements and IRS forms. 2.Audit and Compliance: Ensure compliance with fiscal policy and all applicable laws and regulations. Serve as liaison with UTFI's independent auditors, UT's internal auditors and the State of Tennessee auditors. Ensure compliance with the Affiliation and Services Agreements between the University of Tennessee ("UT"), the University of Chattanooga Foundation ("UCF") and UTFI. 3.Budget: Working closely with the CEO and Director of Accounting, oversee the annual budget process. 4.Business Office: Working closely with the Director of Accounting, oversee the business office (budget tracking, accounts payable, travel reimbursement, gift agreement processing, time reporting, contracts, purchasing, petty cash, transfer vouchers and account creation). 5.Cash and Financial Management: Maintain UTFI's bank and brokerage accounts. Oversee cash management program; project cash needs and maintain appropriate balance between cash on hand, short term cash investments and long term cash investments. Regularly evaluate cash investments and manager(s). Serve as liaison with UT and UCF Treasurers. 6.Gift Annuities: Manage gift annuities, including accounting and reconciliations, investments, quarterly distributions, and IRS filings. 7.Insurance: Analyze UTFI insurance needs. Maintain and manage UTFI insurance coverage. 8.Real Estate: Oversee and manage UTFI's real estate holdings. Manage UTFI Intellectual Property LLC and UTFI Real Estate LLC (limited liability corporations that hold title to some real estate on UTFI's behalf) and their real estate holdings; maintain the books, accounts and records of both LLCs. 9.Regulatory Compliance: Ensure compliance with all regulatory agencies including the IRS, state agencies governing registration for charitable solicitation and state agencies governing the issuance and regulation of gift annuities. 10.IRIS (approvals, create, manage): This position manages activities in the SAP/IRIS system including ensuring the Foundation's portion of IRIS (accounting system used by the University and Foundation) is working properly and kept up-to-date with the latest computer upgrades
Other duties related to financial administration and leadership as assigned.
Service Orientation: The central business office supports UTFI employees stationed around the State of Tennessee and beyond, facilitating their work generating funds and friends for The University of Tennessee. The central business office prides itself on the delivery of timely, valued services to these colleagues and on its ability to anticipate and respond quickly to their changing needs. The Chief Financial Officer must share this customer service philosophy.
Internal Number: 176706
Our primary mission is to move forward the frontiers of human knowledge and enrich and elevate the citizens of the state of Tennessee, the nation, and the world. As the preeminent research-based, land-grant university in the state, UT embodies the spirit of excellence in teaching, research, scholarship, creative activity, outreach, and engagement attained by the nation’s finest public research institutions.