Financial Affairs Compliance Team

Administration Building Room 123
Fayetteville, Arkansas 72701

About this Department

The Financial Affairs Compliance Team (FACT) is part of the Office of Financial Affairs. FACT’s mission is to assist the University as it strives to ensure compliance standards and internal controls established in areas including, but not limited to, operations and financial reporting, tax compliance, compliance with the Payment Card Industry Data Security Standard (PCI DSS), and foundation compliance are met or exceeded.

The Director of Financial Affairs Compliance serves as audit liaison for all internal and external audits of the University and will issue the official responses to any recommendations that may result from such audits. The Director serves as the campus contact for suspected fraud or theft and for questions concerning Financial Affairs. This position assesses and improves the adequacy, efficiency, and effectiveness of internal controls, systems, policies, and procedures through effective communication and review techniques and oversees campus imprest funds.

The Tax Compliance Officer assists University staff with tax related questions and issues, analyzes taxability issues regarding payments and reimbursements to employees, prepares the Unrelated Business Income Tax (UBIT) return for the University, answers UBIT related questions from staff, and prepares and provides University of Arkansas, Fayetteville campus IRS Forms W-9 as requested for third party vendors.

The Payment Compliance Officer ensures both the security of credit card payments at the University and that they are processed in accordance with PCI standards, reviews contracts for inclusion of PCI related language, and audits and remediates PCI compliance issues or concerns. This position evaluates existing or new systems for compatibility with CashNet and ensures they are PCI compliant, reviews requests for payment systems on campus, and provides Data Security Training.

The Foundation Compliance Officer serves as the liaison between the University campus and the University of Arkansas Foundation. This position provides a single point of contact for both the campus community and the UA Foundation thereby increasing efficiencies for all parties. All forms, requests, and questions to the UA Foundation must pass through this office; including UA Foundation W-9 requests.

Important Information

If you have information concerning the misappropriation of University assets, please call 575-5553 for a confidential discussion of your concerns.

General Information

Imprest Funds Policy and Forms

Tax Compliance

Payment Compliance

For additional information concerning the processing of payment card transactions and the Payment Card Industry Data Security Standard (PCI DSS) visit Credit Card Operations.

Foundation Compliance

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