FAQs
Does Finance & Business have a strategic plan?
What is Finance & Business's mission statement?
How many units are in Finance & Business? What are they?
How many square feet of space is Finance & Business responsible for throughout the entire University?
What are F&B's values?
What are the current key initiatives of the organization?
How many employees are there in Finance & Business?
Does Finance & Business have a strategic plan?
Yes, you can view the plan online.
What is Finance & Business’s mission statement?
Finance & Business is a service organization that supports Penn State students, faculty, staff, and the public. We are responsible for the planning, management, and stewardship of the University’s human, financial, physical, and environmental resources.
How many units are in Finance & Business? What are they?
F&B encompasses ten administrative units and affects every aspect of the University.
These units and their responsibilities are:
Auxiliary & Business Services (A&BS) — A&BS provides hospitality, event management, student residence services, and business and support services for the University community and the public at large. A&BS employs approximately 1,200 employees and 3,000 part-time employees across the University system. A&BS is directly responsible for the operation and maintenance of the Bryce Jordan Center, the Nittany Lion Inn, and the Penn Stater Conference Center Hotel. A&BS also oversees Housing and Food Services, which offers services at University Park and nine other Penn State campuses. Transportation Services oversees parking facilities and parking permit distribution, as well as providing vehicles for official University travel and overseeing an intra-campus transportation system. Other A&BS units include Travel Services, Procurement Services, and the Multimedia & Print Center.
Office of the Corporate Controller — This unit is responsible for receiving and disbursing all cash and maintaining appropriate accounting records for these transactions. The controller is also responsible for establishing, promulgating, and enforcing guidelines and controls established for receiving and expending all funds, ensuring that expenditures do not exceed budgeted resources or budget parameters, and developing necessary programs to protect the assets of the University and the insurance of these assets.
The Milton S. Hershey Medical Center — F&B is responsible for providing financial and human resources services to the College of Medicine. In addition, this group is responsible for the oversight of the 3-million square feet of facilities and 546 acres of land that comprise The Milton S. Hershey Medical Center, which is located in Hershey, PA. F&B also provides on-campus housing, fleet services, mail services, and operates the University Fitness Center at the Medical Center.
Office of Human Resources (OHR) — OHR is a service organization that supports and enhances the University’s vision to become one of the nation’s preeminent public universities. OHR is responsible for integrating administrative divisions into the framework of the institution, providing expert advice and counsel to colleges, departments, faculty, and staff, and strengthening positive efforts to attract and retain quality faculty and staff.
Office of Internal Audit — The Office of Internal Audit performs value-added, risk-based audits, designed to independently review, test, and evaluate the financial, electronic, and operational controls throughout the University. The office oversees a 24-hour Employee Ethics and Compliance Hotline, an avenue for employees to address workplace concerns anonymously.
Office of Investment Management (OIM) — OIM oversees the day-to-day management and administration of University investment funds. OIM develops policies and practices as appropriate for achieving investment and spending objectives and submits them to the Penn State Investment Council for approval.
Office of Physical Plant (OPP) — OPP is responsible for the stewardship of all the University’s physical assets. This includes facilities at all the campus locations of the University. OPP is responsible for facilities planning, design, and construction, capital budget management, maintenance, utility engineering, real estate, and environmental health and safety at University Park.
University Budget Office (UBO) — UBO assists the president and the Budget Task Force in developing, implementing, monitoring, and controlling the University’s annual operating and capital budgets. The office serves as principal staff to the Budget Task Force, preparing all agenda materials and implementing budgetary decisions. The office supports the University Planning Council's strategic planning and budget process by participating in deliberations of committees and hearing panels, presentation of essential institutional data, and preparation of various analyses and reports. UBO also serves as the primary office for complying with the University’s central external reporting requirements. The office continues to develop and produce institutional databases to provide the source of official data for both internal and external reporting.
University Police — University Police is responsible for the protection of and service to Penn State’s students, faculty, staff, and visitors. In addition, University Police is charged with the protection of property and maintenance of order, as well as the enforcement of both the laws of the state and University. University Police has full law enforcement authority.
How many square feet of space is Finance & Business responsible for throughout the entire University?
Penn State's total physical plant includes 1,642 buildings comprising 24 million square feet of space, with a plant replacement value of $3.5 billion on almost 19,000 acres across Pennsylvania.
What are F&B's values?
F&B's values are accountability, customer service, excellence, integrity/ethics, respect, teamwork, and student centeredness. For information on F&B's strategic plan and framework, view the 2008-2013 F&B Strategic Plan.
What are the current Key Initiatives of the organization?
The 2008-2013 Key Initiatives are:
Creating a Safer and More Secure University
Enterprise Risk Management
Environmental Stewardship
Focus on People
Fostering Diversity
Information Technology
Providing Great Service
How many employees are there in Finance & Business?
There are 2,800 full-time employees.
