Polytechnique Service des Finances

The Service des finances (Finance Department) at Polytechnique Montréal plays a crucial role in managing the financial resources of one of Canada’s leading engineering universities. Its operations are fundamental to supporting the institution’s mission of education, research, and service to society.

The Finance Department is responsible for a wide range of financial activities, ensuring the university operates efficiently and sustainably. Key areas of responsibility include:

• Financial Planning and Budgeting: Developing and overseeing the university’s annual budget, ensuring resources are allocated effectively to support academic programs, research initiatives, and infrastructure maintenance. This involves collaborating with various departments to understand their financial needs and priorities.
• Accounting and Financial Reporting: Maintaining accurate and transparent financial records, preparing financial statements in accordance with generally accepted accounting principles (GAAP), and ensuring compliance with all relevant regulations and standards. This includes managing accounts payable and receivable, general ledger accounting, and fixed asset management.
• Treasury Management: Managing the university’s cash flow, investments, and debt. This involves optimizing investment returns while mitigating risk, and ensuring sufficient liquidity to meet the university’s financial obligations.
• Procurement and Purchasing: Overseeing the procurement process, ensuring goods and services are acquired in a cost-effective and ethical manner. This includes developing procurement policies, managing supplier relationships, and negotiating contracts.
• Financial Controls and Compliance: Implementing and maintaining strong internal controls to safeguard the university’s assets and prevent fraud. This includes monitoring financial transactions, conducting internal audits, and ensuring compliance with all relevant laws and regulations.
• Research Grant Administration: Managing the financial aspects of research grants and contracts, ensuring compliance with funding agency requirements. This includes tracking research expenditures, preparing financial reports, and assisting researchers with grant budgeting and financial management.

The Service des finances is composed of specialized teams, each dedicated to specific areas of financial management. These teams work collaboratively to ensure the smooth and efficient operation of the university’s finances.

The department also plays a key role in providing financial information and support to the university’s leadership, faculty, and staff. This includes providing financial analysis and reporting, assisting with budget planning, and offering training and guidance on financial policies and procedures.

In essence, the Service des finances at Polytechnique Montréal is not just a support department; it is a strategic partner in the university’s success. By ensuring sound financial management and stewardship, it enables the university to achieve its academic and research goals, contributing to the advancement of knowledge and the training of future engineers.