Welcome
The Controller's Office is responsible for providing processes, systems, controls, and procedures over financial functions so the University of Minnesota has timely, accurate, and complete financial information for use in decision making. In addition, the Controller's Office strives to reduce costs, increase efficiencies, and maximize value for the University.
This site contains information that you can use to make better financial decisions, minimize risk, maximize revenue, and improve the overall process of managing University assets.
Michael Volna is the Associate Vice President, Finance and Controller of the University of Minnesota.
Financial policy philosophy
The Controller's Office is responsible for a suite of University policies related to financial activities. Policies are not generally established to cover every specific eventuality, instead they are built to serve as a foundation to help units comply with laws or other regulatory requirements and assist in mitigating risk to the University.
Compliance issues
Gramm-Leach-Bliley Act
The Gramm-Leach-Bliley Act (GLBA) requires the University of Minnesota to implement safeguards to insure the security and confidentiality of certain non-public customer information. Read more here...
PCI DSS (payment card industry data security standard)
University of Minnesota departments that accept payment cards as payment for goods and services are contractually obligated to follow the Payment Card Industry Data Security Standards (PCI DSS). Read more here...
Identity Theft Prevention Program (Red Flags Rule)
The Red Flags rule requires many business and organization to implement a written identity theft prevention program designed to detect the warning signs (or "red flags") of identity theft in their day-to-day operations. The Controller's Office is currently reviewing the Red Flags rule to determine how it applies to financial operations of the University.
Other services and information
- Borrow vs Buy Analysis is outlined in the Leasing and Financing Equipment policy.
- Helpful tool: Loan Calculator (not a University website)