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