The Office of Business Affairs manages the financial assets of the University in a manner that will enable the institution to fulfill its mission of teaching, research and service to the Greater New Orleans Community. Business Affairs designs, operates and maintains the University's business systems so as to provide maximum flexibility in serving the many and varied needs of the campus in accordance with state law and UL Board regulations.

It is also responsible to insure the financial solvency of the University by observing sound business and budgetary practices that promote good fiscal management. The Office of Business Affairs compiles the University's annual operating budget and monitors spending levels throughout the fiscal year. It also has day-to-day oversight of the accounting and purchasing functions.