Dartmouth College Arts and Sciences Finance Center. Meeting with Department Administrators February 1, 2011

Transcription

1 Dartmouth College Arts and Sciences Finance Center Meeting with Department Administrators February 1, 2011

2 Agenda Overview of Finance Center Model Business Process Redesign Project Management Structure Update on the Administrative and Tuck/Thayer Finance Centers Proposed Arts and Sciences Finance Center Project Timeline Communication

3 What is a Finance Center? Highly skilled service unit dedicated to managing financial transactions for the divisions and professional schools of Dartmouth College

4 What are the goals of the Finance Center? Better Service and Accuracy Cost Savings Success Improve business processes and procedures Improve accuracy and efficiency Provide staff with professional development opportunities Build capacity for future program growth Reduce the cost of finance administration

5 Dartmouth College Finance Center Operating Model Department/Division Sets department strategic budget priorities Makes program and financial decisions Initiates and approves transactions Enforces policies at the department level Determines purchasing decisions Finance Center Processes financial transactions, (such as Payroll, Authorizations, Business Expenses, and Procurement) accurately and timely Completes and process forms and conducts other administrative transactions Serves as a Fiscal conduit and liaison between Divisions and Central Finance Develops standard and ad hoc financial reports to support divisional leadership Provides support to strengthen compliance, improve accountability, and standardize processes Central Finance Administration Establishes and articulates College-wide policies and guidelines on finance transactions Provides reporting support to Departments and Finance Center Manages overall coordination of Finance activity across Campus Provides support and strategic direction to all the Financial Centers Works with Financial Centers and departments to ensure consistency and track overall performance

6 Key Activities Objective Step Business Process Redesign Background Review and Validate Current Processes Create and Validate Future Processes Conduct Gap Analysis and Develop Recommendations Implement and Improve Documented current processes, roles, and pain points Defined future state processes to be implemented Defined the specific people, process, technology, and policy changes needed to achieve future state Ensure processes work effectively Identify other processes for potential redesign Documented As-Is processes Understand key issues and pain points Identified current technology platforms and integration points Identified pertinent policies and laws Developed and validated detailed To-Be process maps Defined operating framework of Finance Center in relation to Central Finance and Departments/Divisions Compared current finance processes to future processes Documented key changes to people, process, technology, and policy Detailed anticipated benefits, potential business constraints or barriers, and key decisions resulting from the gaps Developed a gap analysis and validate with leadership Implement new processes Review processes and performance with staff and customers Adjust processes as needed Created recommendations to guide ongoing project activities

7 Defining Success for Finance Centers Business Process Improvement Financial Expertise Efficient and effective practices Staff focused on high value-added activities Appropriate compliance Culture of continuous improvement Standardized, consistent processes across Dartmouth Cost savings The right skills connected with the right tasks One stop shopping for finance where people get the services they need, when they need them, from experts in their field Divisions, finance centers and central finance working together as collaborative partners Focus on Service Teams of dedicated finance professionals supporting divisions Regular and frequent communication between finance centers and divisions Enhanced collaboration between finance centers and central finance and administration Transparent communication of service level performance Staff Development Clear career paths for financial staff Improved training and development opportunities Greater opportunity for professional growth

8 Finance Center Project Management Structure Finance Redesign (FRED) Team Admin Finance Center Tuck/ Thayer Finance Center Arts & Sciences Finance Center Provost/ DOC Finance Center DMS Finance Center Executive Leadership/ Steering Committees Admin Steve Kadish Tuck/Thayer Steve Lubrano A&S Michael Mastanduno Provost/DOC Carol Folt Sylvia Spears DMS Chip Souba Working Group: Develops recommendations for and leads the successful implementation of the Finance Center Admin FC Director: Rita Murdoch Tuck/Thayer FC Director: Ann Bunnell A&S Working Group Lead: Chris Strenta Provost/DOC Working Group Lead: Tricia Spellman DMS Working Group Lead: TBD Implemented To be implemented in 2011 Center/Host meetings, Operations meetings, Technology projects

9 Administrative and Tuck/Thayer Finance Centers Open for business as of Monday, November 15 th Accomplished: Skilled staffing in place Processes defined Procurement Expense Reimbursement Payroll and Timekeeping Accounting and Reporting Trainings held for staff and customers New Payroll Authorization System and Simplified Business Expense Reimbursement form developed Underway: Service Level Agreements Additional staff training Policy updates Regular department and divisional meetings In partnership with customer divisions and host departments, we are developing a process for on-going review and refining of processes.

10 New Business Expense Reimbursement Form New Excel-based form is being piloted with the Admin and Tuck/Thayer Finance Centers and will be rolled out across campus in early 2011.

11 PA Smart Form A new on-line PA system was develop and is being piloted with the Admin and Tuck/Thayer Finance Centers The system will be enhanced and rolled out with the additional Finance Centers.

12 Proposed Organizational Chart A. Christopher Strenta Katherine Soule Amanda Bushor Apparatus Shop Electronics Shop Research Grant Managers Finance Center Staff

13 Finance Center Transactions Checklist Transaction Tasks /Business Process A&S Finance Center A&S Depts Process Payroll Transactions Enter PAs into HRMS Enter Timesheets into HRMS Prepare Payroll Authorizations Process LADC - Future Dated Manage Procurement/P-Cards (MP) Process LADC - Wage Transfer Perform Recruiting Transactions in DORR Manage Procurement Purchase Goods through Sciquest Reconcile P-card purchases Purchase Goods or Services using Non-Catalog Requisition Business Expense Reimbursement Process Business Expense Reimbursement (BER) Forms Enter BER into Oracle

14 Finance Center Transactions Checklist (Cont.) Transaction Tasks /Business Process A&S Finance Center A&S Depts Perform Ad Hoc Reporting Constructing the Budget Develop Budget Budget & Financial Reporting Input Budget Manage Procurement/P-Cards (MP) Budgetary priority setting Monitor Actual vs. Budget Develop and Conduct Monthly Reporting Maintenance and Use of Budgeted Funds Prepare Quarterly Financial Reporting and Forecasting Templates Conduct Decision Support and Financial Analysis

15 Finance Center Transactions Checklist (Cont.) Transaction Tasks /Business Process A&S Finance Center A&S Depts Reconcile Accounts - Review transactions for accuracy Process Corrections Accounting Process Funding Transfers Process Comp Funding Agreement Finalize subcontract budget and scope External Billing/ Revenue Deposit checks with cashier s office

16 High-level Timeline for Launching A&S Finance Center* Project Milestones Winter Spring Summer Communications Customize and Design - Customize Work Plan - Transaction Checklist - Process Mapping - Determine Staffing Build - Organizational Structure - Update Ops Manual - Update Procedures Hire - Identify Staff - Situate Staff in Center Train - Train staff on new processes and systems** Implement - Finance Center Go-live *Initial rough estimates of high-level activities and dates. Subject to change. **Training will continue beyond go-live due to side-by-side system and process training with EIS staff.

17 Communication Plan Phase I Presentation to Committee of Chairs 1/31/2011 Presentation to Department Administrators 2/1/2011 Phase II Send updates to all faculty and staff Post Finance Center positions Phase III Send updates to all faculty and staff Hire Finance Center staff Hold information sessions on new processes and procedures

18 Finance Centers Website

19 Questions and Answers