Accounting oversees various university accounting and reporting functions, such as Gift and Grant, Land, Building and Equipment, Operating and Endowment Investment, General Operating Accounting and Reporting. The Department also ensures that university procedures adhere to Generally Accepted Accounting Principles (GAAP), and strives to report the university's financial position in a timely and accurate manner, enabling management to make optimal university resource decisions. One of the Department's major annual projects is the production of audited financial statements based on the university's fiscal year-end, each June 30th.