Office of the Chief Financial Officer & Treasurer
The Office of the Chief Financial Officer & Treasurer is responsible for supervision and management of financial and business operations at IMÌåÓý¹ÙÍø.
The mission of the Office of the Chief Financial Officer & Treasurer is to assist the President, the Board of Trustees, the Cabinet and the Deans – on behalf of all faculty, students and staff – in achieving and maintaining sustainable financial stability for the entire University and all of its schools and component units. The Office of the CFO & Treasurer helps IMÌåÓý¹ÙÍø to be a responsible steward of the funds entrusted to the University by its students and their families, donors, grantors, and other supporters.
Karol Kain Gray maintains responsibility for all aspects of the financial management of the University, including budget planning and resource allocation, accounting and financial reporting, accounts payable, accounts receivable, payroll, procurement, and cash management. She provides oversight of IMÌåÓý¹ÙÍø Hospital’s financial management and oversees investment management for Howard’s endowment and pension, debt management and capital planning.
Frank Bello currently serves as chief investment officer and assistant vice president for IMÌåÓý¹ÙÍø’s $1.2 billion endowment and retirement pension funds. He also participates in bringing awareness to the IMÌåÓý¹ÙÍø endowment fund by raising campaign and investment capital to achieve mission critical goals of the University.
Offices and activities under the supervision of the Chief Financial Officer & Treasurer include the following:
Controller’s Office
- General Accounting
- Audits and Financial Reporting
- Grant Accounting
- Restricted Fund Accounting
- Payroll
Treasury Operations
- Cash Management
- Debt Management
Bursar’s Office (Student Accounts)
- Student Billing
- Student Collections
- Student Refunds
- Payment Plan Administration
- Financial Holds
- Tax Credit Reporting – 1098-T
University Budget Office
- Budget Preparation
- Budget Monitoring
Procurement and Contracting
- Purchasing
- Contracting
- Procurement Cards
Accounts Payable
- Vendor Payments
- Travel Authorization & Reimbursement
Investment Office
- Endowment Investment Management
- Pension Fund Investment Management
- 403B Plan Investment Management (with HR)
Insurance and Risk Management
- Insurance
- Claims Management
- Risk Management