Towson University's department of Financial Affairs is comprised of the Bursar's Office, Financial Services, Financial Systems, Procurement, and University Accounting.
The functions of the Bursar's Office include billing services, payment collections, account refunds and adjustments, delinquent account collections, financial aid rebate check disbursements, deferred payment programs, third party agreements, private scholarships, and alternative loans.
Financial Services provides critical business and financial support services to the campus, including Accounts Payable, Business Travel/Working Fund, Payroll, Payments to Foreign Nationals and Student Financial Services.
The Financial Systems department provides the campus community with support for and management of financial systems operations. This includes support for PeopleSoft Financials and Procard as well as information on workshops, reporting and training documentation, business processes and the chart of accounts.
Procurement purchases goods and services using best value practices, working collaboratively with the campus community, taking advantage of the university's buying power and ensuring procurements are conducted in an open, fair and competitive environment in compliance with applicable policies, laws and regulation.
University Accounting assures the accuracy of the information maintained in the university's internal systems through extensive monthly reconciliations with the State of Maryland's Relational Standard Accounting and Reporting System (R*Stars); generates all financial reporting; and prepares the university's annual audited financial statements.