UMaine Finance Office
Fin
Welcome!
The University of Maine’s Finance Office partners with academic and administrative leaders, coordinates campus-wide budget and financial planning activities, and facilitates allocating resources necessary to support Maine’s public flagship research university. We are a collaborative group of professionals dedicated to the success of the University of Maine and the University of Maine at Machias.
Our Mission
The Finance Office will be an innovative partner, delivering excellent service to the University of Maine (UM) and University of Maine at Machias (UMM) communities. Our priority is supporting the success of students, faculty, staff, and our community by responsibly managing our fiscal, administrative, and infrastructure health.
Finance Quick Links
Our Strategic Goals & Objectives
UMaine’s Finance Office guides the annual budget process for the university.
- We facilitate the annual budget development and budget implementation processes for all funds.
- We develop the annual budget timeline, tools, templates, and training.
- We analyze departmental budget requests and expenditures as they relate to the university’s overall current and future success.
- We report financial performance through monthly and quarterly financial reporting, and through annual forecasting.
- We develop and update financial models in support of budget development, including business case development, break-even analysis, variance analysis, or “what if” analysis as necessary for decision-making.
- We analyze university research indirect costs and recommend allocation methodology and budget.
- We evaluate processes and policies to eliminate potential bias in resource allocation.
UMaine’s Finance Office directs long-range operational plans for the university.
- We develop multi-year planning scenarios and models for the university to assist in strategic financial planning and ensure fiscal responsibility and sustainability.
- We support data-informed decision-making through collaborative, high-quality financial analysis.
- We create and review models for projections of key university revenues and expenses:
- enrollment projections
- tuition and fee charges
- returns on investment or endowment funds
- staffing levels and salary expenses
- capital project integration
- other functions, as directed
- We incorporate major long-term gift budgets into operational plans.
- We prepare capital budgets and recommend the financial feasibility of capital expenditures, including total cost of ownership analysis of capital projects.
- We collaborate with the Provost’s office to integrate academic program metrics with financial data to aid in academic program review.
UMaine’s Finance Office leads, collaborates, and communicates across the university.
- We collaborate closely with the University of Maine System (UMS) Vice Chancellor for Finance & Administration, as well as the UMS accounting and finance teams.
- We work collaboratively with the Business Office, Office of Student Financial Services, and other campus partners to ensure the university’s budgeting and financial planning processes are transparent, rigorous, efficient, and user-friendly.
- We liaise with deans, unit directors, and financial managers across campus for planning purposes.
- We collaborate directly with the Executive Director of Facilities Management and Director of Space and Capital Management Services to develop annual and multi-year capital renewal plans that optimize federal and state appropriations, philanthropic funds, debt service, and unrestricted revenues.
- We coordinate with the UMaine Foundation and other campus partners to optimize the use of university endowments and current gifts.
- We support the Vice President for Finance and Administration & CBO with regular reporting to the various committees of the Board of Trustees on financial matters.
Recent News
University of Maine System Trustees pass FY26 budget among unprecedented financial uncertainty
PRESQUE ISLE, Maine — Amid unprecedented uncertainty, Trustees approved a University of Maine System (UMS) budget for next year but cautioned that cuts could be coming if the Legislature does not provide the State appropriation proposed by Governor Mills and federal funding is further reduced. […]
State-funded University of Maine System research and development generates record rate of return
PORTLAND, Maine — Maine funds R&D activities at its public universities through the Maine Economic Improvement Fund, which in FY24 delivered a more than 6:1 direct rate of return, supported more than 1,400 student researchers and helped hundreds of small businesses innovate new products and improve productivity. […]