Welcome to InFocus!
Greetings from the Office of Finance. You may (or may not) have noticed that “and Administration” has disappeared from our name. As part of the transition process following the recent retirement of Vice President Nikki Krawitz, we looked across peer institutions to see how other organizations were aligned. We noticed that when “Finance and Administration” was used at other institutions, those divisions most often included human resources and information technology. Since those functions have been separate divisions at the UM System for some time, we thought changing our name to “Office of Finance” would better reflect our areas of responsibility and be more consistent with peers. Also related to the transition, as previously reported, a decision was made to move Institutional Research from Finance to Academic Affairs. Beyond the name, and the move of Institutional Research, nothing else has changed. We are the same great team doing an outstanding job each day.
On a more serious note, I’d like to update you on an important initiative currently underway across the University of Missouri System regarding our fiscal/finance function. We are working with our internal auditors, PricewaterhouseCoopers (PwC), on a review of fiscal management practices throughout the University. The purpose of this review is to gather input and observations from multiple perspectives, identify opportunities for improvement, and provide a general basis for collaborative strategic planning efforts to further strengthen how we do business and serve our customers – both internal and external. Our goal is simple – provide best in class service in an effective and efficient manner.
As part of this review, PwC has interviewed a representative sample of fiscal officers throughout the four campuses and at UM System. Additionally, input has been gathered from the finance leadership team at each campus. Finally, we recently sent out a survey on the fiscal management function to over 800 employees across the System with some fiscal management role (and I’m pleased to report a survey response rate of nearly 60%).
Over the next several months, we’ll be working with PwC to assess all of the information gathered as part of this entire review. Once that process is complete, we’ll begin working with finance team leadership throughout the campuses and System to formulate a plan of action to address any identified opportunities for improvement. Finally, results will be shared with the entire University community.
Thanks to everyone who had participated in this process!
Interim Vice President for Finance and Treasurer
University of Missouri System
Office of the Controller
Jane Closterman, University of Missouri System Controller, has announced her decision to retire after 11 years of dedicated service. Her effective retirement date is April 30, 2014. This will be a loss to the University of Missouri. Jane is one of the hardest working and most dedicated people I’ve ever met. Since starting with the […] Read more
It is my pleasure to announce that Ryan Rapp has been selected to succeed Jane Closterman as Controller of the University of Missouri System upon Jane’s retirement, which is effective April 30, 2014. The timing of this announcement will allow for a smooth transition in this most important role. In keeping with our deliberate succession […] Read more
With the new Travel & Expenses System employees are experiencing faster reimbursements. However, they can be delayed due to missing or incorrect information. Here are a few hints to help you when submitting your Expense Report (ER): Funding source – Check the funding on your ER before submitting it for approval. You can set your […] Read more
Be prepared for the end of the year and check your tax withholding before it is too late. The following are things to remember when reviewing your tax withholding elections. WHAT are my tax withholding elections based upon? The amount of income tax withheld from your pay depends on two factors: 1. The gross amount […] Read more
Currently, the Office of Management and Budget (OMB) has not set a timeline for publishing the revised OMB Circulars, but have indicated they have an aggressive timeline for publishing the revisions with a goal to have a final version in December 2013. We will provide more information to the University Research Community once finalized. If […] Read more
The forms for filing claims have been converted to Excel format to simplify the process. The Excel option allows each user to fill out the form manually or electronically. If the form is completed electronically the user can save and/or email it to their appropriate campus contact within 24 hours after the accident or incident […] Read more
Facilities Planning and Development
One of the responsibilities of Facilities Planning and Development (FPD) is Building Code Administration. If you build a house in Columbia or in the Boone County, then you submit plans to the respective code administrator (the Authority Having Jurisdiction) for review at either the city or the county. They perform a review of your plans […] Read more
“Healthcare reform has acted as an accelerant to already intense supply chain initiatives nationwide. As providers anticipate declining reimbursement, historical preferences for items based on good vendor relationships, physician preference or history are diminishing as decision makers are now moving their focus almost entirely on total value.” –Mitch Wasden, CEO/COO University of Missouri Health Systems […] Read more
The COMPASS Program continues to be a complex group of projects, but each project is a building block that gets the University closer to its goal of a standard budgeting process. The next building block of COMPASS, and the final piece of the Hyperion application, is called Human Capital Planning, or HCP. After implementation, HCP […] Read more
UM System – Records Management Policy, Guidelines and Compliance 1. Follow UM Policy concerning the management of University records 2. Records Management is a legal foundation for all UM departments 3. The University, as any other organization or business must have a systematic way of controlling records and information This is referred to in the […] Read more
Finance News & Updates
Chief Procurement Officer, Tony Hall, nominated Memoree Bradley for the Top Hat Award for the 3rd Quarter of 2013. “She is the consummate professional assistant. She is kind but firm, organized but flexible, and knows when to deflect and when to interrupt. She is an excellent ambassador for the Finance and Administration Division and to […] Read more