Mike Berthelsen was appointed as St. Olaf’s CFO and VP for Business and Finance in 2023.  In this role, he is responsible for the financial leadership of the college. The CFO/VP has oversight of six direct reports and a staff of more than 100 FTE. The role directs budgeting, financial reporting and analysis, human resources, investments, cash management, debt management, environmental health and safety, and stewardship of all financial and physical assets of the college. In addition, the CFO/VP oversees facilities and guides the planning, financing, and implementation of all capital management activities including land acquisition and leases.

The CFO/VP advises the Board of Regents, President, and executive team in matters of strategic
decision making, resource management, and fiscal sustainability, serves as the leadership liaison to the Board’s Finance, Investment, Audit, and Buildings & Grounds Committees, and serves as the college’s Compliance and Risk Officer.

Prior to coming to St. Olaf, Mike had a 29 year career at the University of Minnesota holding several roles in the areas of budget, finance and operations that culminated in his work as Vice President of University Services. In this role his portfolio included strategy, fiscal management, sustainability, information technology, safety, and a series of human capital initiatives for a broad range of university operations including housing, dining, bookstores, parking, facilities and engineering, real estate, design, and construction.

Mike completed his B.A in Philosophy and Political Science/History from Concordia College in Moorhead MN and his M.A in Public Affairs from the Humphrey School of Public Affairs at the University of Minnesota.