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  1. VPF New Employee Orientation December 14, 2011

  2. Michael W. HowardVice President for Finance

  3. Vice President for Finance

  4. Budget, Finance & Treasury (BFT)Allen Marcum

  5. Budget, Finance & Treasury

  6. Allen MarcumDirector, Budget, Finance & Treasury Office Manager Finance Budget Accounting Services Cashier Accounts Receivable Tax Danielle Khoury-Galou ElzaBilong Joy Matos Cheryl Whelan AnshuTiku John Donnelly Donna Cairns Assistant Accounting Officer Senior Financial Analyst Tax Manager Assistant Director, Budget, Finance & Treasury Accounting Manager Accounting Manager Senior Accounting Officer Accounting Officer Jim Thompson Cathy Levins Donna Lagrotteria Jo Lyn Whitlock Carol Schultz Yeo Jin Kim Rebecca Berger Allison Parisi Rob Slauzis Open Position Ying Liu Kenneth Suprin Pat Crosby ManaliPatel-Bettendorf Sue Ellen Howe Jeff Blundell Alicia Ma Eileen DesRosiers Henry Leung Yan Jiang ClarelAuGuste Senior Financial Analyst Financial Assistant II Tax Accountant Operations and Systems Staff Accountant Senior Staff Accountant Staff Accountant Senior Financial Analyst Tax Co-Op Accounting Officer Accounting Officer Financial Assistant II Senior Financial Analyst Tax Analyst Financial Assistant Accounting Officer Accounting Officer Accounting Officer Payroll Benefits Accounting

  7. Financial OperationsGerry O’Toole

  8. VPF Financial Operations What’s important to Financial Operations? • Seeing what we do through the customers’ eyes • How can we make our customers’ lives easier? • Opportunities to use automation to improve service • Operational excellence

  9. Gerry O’TooleDirector of Financial Operations Procurement Assistant Business Systems HR/Payroll Services Sourcing & Procurement Strategic Initiatives Contracts AP Services Financial Accounting Mae Jones Marsha Dailey Tricia Sullivan-Mullen Cathy Cherico John Larkin John Goddard John Doyle Tony Flaherty Sara Malconian Wayne Dwyer James Walsh Doug LeVie Manager, Business Systems Manager, HR/Payroll Service Delivery Assistant Director of Strategic Sourcing and Procurement Assistant Director Assistant Director Senior Accounting Officer Manager, HR/Payroll Accounting Andy Barnes Senior Business Systems Analyst Senior HR/Payroll Representative HR/Payroll Service Center Representative Staff Accountant Assistant Accounting Officer Accounting Officer Contract Administrator Senior Data Analyst Purchasing Agent Cecilia Talamantes Kristen McCormick Ana Ludwig Monica Hammond Minerva Tirado Jasminka Velagic Dimana McDonald Christina Lo Michael Flaherty Joachim Ngaleu Emily Do Michelle Pafundi Ladawyna CoxEudarck SantosSteven Siwy Yimin Mao MariannCarnazzo Rich Corrente Janet Mulstay Queen Grover Beth Kelly Darren Levie BrionMcAlarney Janice Headley Derek Welcome Brenna Niles Michelle Williams Priya Rhodes Laurie Farinella Jeff Rosa Carl BiancucciLindsay Grace Darren Scartissi Cornel Louis Anna Kovaleva Jimmy Kontoravdis Paul Morrison LodyPetriv Lilian Garcia Nicole Valente Denise LeBlanc Ann Julian Lucia Sander Catelin Matos David Petricone Scott Ball Joanne Reynolds Stephen Newman Sheila Kisich Senior Accounts Payable Assistant Financial Operations Staff Accountant Payroll Operations Specialist Payroll Assistant HR-Payroll Representative II Contract Administrator Purchasing Agent Buyer Accounts Payable Assistant Staff Accountant Vendor Maintenance Specialist Senior HR/Payroll Representative HR/Payroll Service Center Representative Strategic Sourcing Analyst Assistant Contract Administrator I Buyer Financial Operations Staff Accountant Accounts Payable Assistant Senior SAP & Budget Process Analyst HR/Payroll Service Center Representative II HR/Payroll Service Center Representative Purchasing Agent Purchasing Agent Senior Accounts Payable Assistant HR/Payroll Accountant Administrative Assistant Short-term Employee Strategic Sourcing Analyst Buyer Leslie Wright Senior Accounts Payable Assistant Distribution/Time Administrator Senior Business Systems Analyst Strategic Sourcing Analyst Buyer Senior Accounts Payable Assistant Accounts Payable Assistant Financial Assistant II Strategic Sourcing Analyst Buyer Senior Accounts Payable Assistant Short-term Employees Strategic Sourcing Analyst Short-term Employees

  10. Senior DirectorRobin Elices

  11. VPF Senior Director Areas VPF-wide viewpoint • Represent DLC perspective • Focus on meeting community needs • Connectivity to MIT administrative areas and DLCs

  12. Robin ElicesSenior Director Communications, Training & Customer Satisfaction Travel & Procurement Card Services Property Special Projects Sponsored Accounting Kevin Milligan Scott Rolph Janet Sparks Pam Schickling Kathy McGrath Senior Communications Officer Manager of Travel Operations Associate Director of Property Special Projects Officer Manager of Sponsored Accounting Mike Savio Bill DeOliveira Richard Janus Kim Harmon Joanne Chute Yan Ting Sun Devin Mead-Ward Michael Yates Rich Schiavoni Jordan Lewis Kara Sechrist Mike McCarthy Mike Khaykin Rahul BishtMichelle GrahamVardan KirakosyanBikram Shrestha Brian Pierson Ellen Sico Michael DiPalma Dale Twomey Vietnam Le Ryan McAlarney Andrew Tivnan Al Martignetti Tim Vacha Ken McLaughlin John Erkkila LinoGelormini William Hodkinson Virginia Johnson Barbara Nickerson Margaret Benson Rhonda Dragon Communications Coordinator P-Card Administrator Accounting Officer, Government Business Analyst – ARRA Reporting Manager of Property Manager of Property Senior Property Accountant (TAT) Training Coordinator Travel Assistant Senior Staff Accountant – NSF, DOD Staff Accountant – Billing and Collections Property Administrator Government Property Administrator Travel Assistant Senior Staff Accountant – DOE, NASA Staff Accountant Property Accountant Inventory Assistant Senior Travel Officer Staff Accountant -- NIH Staff Accountant – Billing and Collections Senior Property Inventory Assistant Senior Property Inventory Assistant Short-term Employee Senior Staff Accountant – Other Federal Senior Staff Accountant – Industrial Property Auditor Senior Property Inventory Assistant Administrative Assistant – Wires, Draw-downs Warehouse Attendant (Short-term Employee – part-time) Short-term Employees

  13. Human Resources & AdministrationAnn E.W. Harvey

  14. Ann E.W. HarveyDirector, Human Resources & Administration Human Resources & Administration Valerie Alleyne Suzette Clinton Receptionist Administrative Assistant HR Business Partner

  15. VPF Human Resources & Administration

  16. VPF Service Area Presentations

  17. Budget & TreasuryRob Slauzis

  18. MIT’s Budget System – Nimbus Nimbus functionality DLC budget submissions Salary increases (global budgeting) Secondary cost calculation (EB, F&A) Budget change transactions GIB carryforward calculation at closing SAP/Data Warehouse Nimbus Nimbus-web – DLC Access Budget data Budget submissions Draft JV Cost object master data Current budget

  19. BF&T – Treasury & Cash Management • Two-fold mission: • To ensure adequate liquidity through proper cash forecasting • To provide an investment strategy for working capital Daily operations (Bank of America) • Ensure daily liquidity (bills, tax payments, debt service, payroll) • Manage banking relationship (new accounts & services, troubleshooting, CashPro) Long-term planning (BOA/MITIMCo/State Street Bank) • Ensure long-term liquidity • Provide working capital asset allocation

  20. Treasury – Daily Operations Ensure daily liquidity in the Campus Master account • Check bank balance • Review disbursements sent to treasury@mit.edu • Calculate funding needed • Wire operating $ to Campus Master account • Recently simplified process

  21. Current Daily Wires – BoA BoA Pool C Receipts (#3306) As needed BF&T Wire to BoA Campus Master Wire to SSB (#853B) Operational funding (#6603) As needed

  22. Accounts ReceivableDonna Cairns

  23. What We Do Business cycle for billing and collection in support of MIT activities via following functionality in general accounts receivable: • Quarterly close • Billing • Dunning • Collection • Reporting • General Accounts Receivable: accounts-receivable@mit.edu

  24. Receivables As of Q1FY12 ($1000’s)

  25. General Accounts Receivable • FY11 Invoices - 1350 each month • FY11 Dunning Letters - 450 each month • Areas include: • Benefit Accounting • CMSE • Document Services • Endicott House • Housing & Dining • Libraries • Machine Shop • Major Agreements • Medical

  26. Merchant ServicesDonna Cairns

  27. Merchant Services-What We Do • Monitor compliance – Ensure merchants continuously meet compliance requirements (questionnaire, scanning, penetration testing) • Set up new merchant accounts • On-going merchant business support (request tracker) • Work with IS&T and merchants to develop new functionality • Wireless Solutions • PayPal • PE Systems • Merchant Services: chargemit@mit.edu

  28. What is PCI-DSS PCI-DSS is Payment Card Industry Data Security Standards. PCI – DSS provides a framework for security best practices that minimize security risks and costs associated with data breaches. These standards were set by American Express, Discover Financial Services, JCB, Mastercard Worldwide, and Visa International.

  29. PCI Executive • Committee • Oversee MIT PCI program • Escalation body • Funding Michael W. Howard Marilyn Smith Deborah Fisher PCI Oversight • PCI compliance • Security and business policy & procedures • Enhancement governance PCI Compliance Officer Donna Cairns Tim McGovern Merchant Type D Support • Campus • PCI Consultant • Ann Flanders-Doland • Medical • PCI Consultant • Ann Flanders-Doland • Lincoln Lab • PCI Consultant • Ann Flanders-Doland Ongoing Operational Support IT Business Analyst IS&T SAIS Seth Seligman IT Technical Analyst IS&T OIS Garry Zacheiss PCI Compliance Specialists - VPF Cheryl Whelan CyberSource

  30. Merchant Statistics – FY2011 • MIT has over 110 operating merchants – DLCs/groups accepting credit card payments • $41.4M sales (Excludes credits, refunds for VISA/MC) • 250K transactions

  31. Cheryl WhelanCashiers

  32. Cashier’s Office Functions • Check deposits • DLCs may send checks to Cashier’s Office or deposit checks directly into on-campus Bank of America locations • Handling Cash • Office became a cash-free facility in July 2010 • DLCs set up to deposit cash directly into bank • Alternate service for DLCs that infrequently receive cash • Manage petty cash funds • Process incoming non-sponsored wire transfers

  33. Questions/Assistance Please contact: Cheryl Whelan 617-253-5426 cashiers-office@mit.edu

  34. Tax ServicesAnshu Tiku

  35. What We Do Compliance with Federal, State and International tax laws at the entity(i.e. non-payroll) level

  36. Who We Are Tax Manager Tax Accountant Tax Co-op Open position – Tax Analyst

  37. FinanceEileen DesRosiers

  38. Finance: Mission & Scope Integrate the bold and evolving mission of MIT with a sustainable financial model Operating Resources Policies Facilitate decision-making through fact-based analysis Capital Base Intergenerational Balance & Financial Equilibrium

  39. Budget Model Update – FY11 Proposed Budget8.25% Investment Return in FY10 • Planning model demonstrates the effect of the following factors: • 8.25% investment return assumed for FY10 • Impact of FY11 budget cuts • 18% payout reduction in FY11 with Tobin rule thereafter

  40. HR/Payroll Mae Jones

  41. Our Focus • The HR/Payroll group is responsible for processing Payroll impacting transactions for all employees and students accurately and in a timely manner. • Assist the community in processing complex non standard actions. • ensure that all transactions are compliant with MIT HR/Payroll policies, practices and procedures. • Respond to all customer inquiries regarding payroll issues and process off-cycle payments as requested by the community. • Provide customer service that exceeds our customers expectations

  42. Key Metrics Key metrics for Fiscal Year 2011 # of Employees Paid Monthly: 12,458 # of Employees Paid Weekly : 3,800 # of Pension Retirees Paid : 5,695 Total off-cycle checks requested by departments: 2015 Total off-cycle checks due to Processing Errors : 76 Total off-cycle checks : 2090 Total Transactions Monthly average : 18,938 Total Manual Transactions Monthly average : 2,562 Total Automated Transactions Monthly average : 16,376

  43. Key Metrics

  44. Helpful Links VPF HR/Payroll website http://vpf.mit.edu/site/content/view/full/264 SAPweb Employee Services http://mit.edu/sapwebss/PS1/home.shtml HR / MIT Personnel Policy Manual http://hrweb.mit.edu/policy/4/4-2.html Human Resources Officers http://web.mit.edu/hr/empservices/hro.html

  45. Strategic Sourcing and Procurement Sara Malconian

  46. Our Focus • Procurement of goods and services of approximately $1.2 billion annually • Identifying partner suppliers based on the needs of the MIT community • Working to yield significant savings to MIT • Developing and maintaining efficient and customer-friendly methods of buying products and services • Providing the highest level of customer service to the MIT community

  47. Procurement at MIT • Preferred methods to purchase products and services at MIT: • MIT Procurement Card (ProCard) • 187,500 transactions this year • Electronic Purchasing Tools (SAPweb) • Electronic Catalogs (eCat) • 94,000 transactions this year • External and Internal Requisitions (Purchase Orders) • 48,500 transactions this year

  48. Helpful Links Procurement web sitehttp://vpf.mit.edu/procurement ProCardhttp://vpf.mit.edu/pcard SAPwebhttp://web.mit.edu/SAPweb/PS1/index.shtml eCathttps://web.mit.edu/ecat/ecat3/ Procurement Formshttp://vpf.mit.edu/procurement/forms Electronic Request for Payment (eRFP)http://vpf.mit.edu/erfp

  49. Accounts PayableJohn Larkin

  50. Accounts Payable Our mission: To pay MIT’s bills accurately and in a timely manner. • Processed 146,000 manual invoices (FY11), down from 182,000 in FY10. • Processed 385,000 non manual transactions in FY11. • Types of payments • Purchase order based • Non-purchase order based • Launched eRFP in July 2010 – over 99% adoption • Emphasis on more electronic invoicing and payments, we expect to add approximately 35 vendors to electronic invoicing next year. Another goal is to reduce paper check payments. Vision: End-to-end electronic buy-pay process