Financial Reporting

Financial Reporting is responsible for ensuring the accuracy, completeness, and transparency of the University’s financial information. The team oversees the preparation of Penn State’s annual consolidated financial statements, along with a wide range of subsidiary financial statements for related entities.

Acting as the University’s primary liaison to the external auditors, Financial Reporting coordinates and manages all audit activity, including the consolidated financial statement audit, the Single Audit (under OMB Uniform Guidance), individual grant audits, subsidiary entity audits, and various agreed-upon procedures engagements. This work ensures compliance with federal, state, and sponsor requirements while supporting strong financial stewardship.

In addition to its core reporting and audit responsibilities, Financial Reporting contributes to regulatory and institutional reporting, including IPEDS submissions and Pennsylvania Right to Know Law reporting. The team also monitors emerging accounting guidance, maintains expertise in FASB accounting standards codification, and leads University-wide implementations of new accounting and reporting requirements.

Through these activities, Financial Reporting plays a critical role in upholding Penn State’s financial integrity, compliance, and commitment to rigorous and transparent financial management.

Financial Reporting Staff