Vice President for Finance
These new processes are expected to provide an improved level of accuracy and to facilitate ease of entry by pre-populating and verifying data. Over time, they will eliminate duplicate data entry of over 10,000 faculty and staff and 16,000 graduate student appointment actions on an annual basis.
VPF has also launched a project to automate the request for payment (RFP) form used to reimburse faculty and staff for approximately 50,000 out-of-pocket expenses annually, improving the reimbursement time with direct deposit of funds. In addition, the VPF is implementing a vacation tracking system for sponsored research staff members, replacing the current manual process with a user-friendly web interface to SAP. VPF also plans to implement a travel credit card for faculty and staff, eliminating out-of-pocket expenses for those who choose to use the card.
As VPF enters FY2009, it will continue to focus on some of the initiatives started in FY2008, such as achieving excellence in customer satisfaction and fostering employee growth and productive partnerships. As we look forward to the year 2011 when MIT will be celebrating the 150th anniversary of its founding, we set our sights on delivering the “2011 Experience” today. This implies the achievement of operational excellence by simplifying, automating, and standardizing processes and workflows; developing clear policies, standards, and guidelines; and personalizing communication with relevant links to clear information.
Accounting Services and Controller’s Ofce
In the Accounting Services functions, FY2008 was a transitional year with significant changes in leadership and organization. Accounting Services is a new organization, under the leadership of Gillian Emmons, controller and director of accounting services, and is comprised of many of the functions in the previous Controller’s Office, including Financial Reporting, the SAP General Ledger group, Accounts Payable, Payroll, Property at Lincoln Laboratory and on campus, Tax, the Lincoln Fiscal Office, General Accounts Receivable, the Cashier’s Office, Sponsored Accounting, and Facilities Accounting operations support.
Staff from Accounting Services participated in many of the initiatives begun by the new vice president of finance this year. Twelve staff members participated in the PDI. Accounting Services has also benefited from closer working relationships with its colleagues in the Office of Budget, Finance &Treasury.
Transaction volume grew in most areas as Institute activities have grown. The trend of movement from paper processing to electronic processing, with the benefit of lower transaction processing cost and greater accuracy, has continued. New initiatives reaching for improved quality and compliance, responding to new needs in the Institute’s research and teaching mission, are described in the detailed reports below.
Key metrics are reflected in the following table:
MIT Reports to the President 2007–2008