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There is now a CONTENT FREEZE for Mercury while we switch to a new platform. It began on Friday, March 10 at 6pm and will end on Wednesday, March 15 at noon. No new content can be created during this time, but all material in the system as of the beginning of the freeze will be migrated to the new platform, including users and groups. Functionally the new site is identical to the old one. webteam@gatech.edu
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Atlanta, GA | Posted: August 28, 2015
Jennifer Hubert
Associate Director, Special Projects
Institute Planning and Resource Management
Summary Sentence:
Georgia Tech’s complex and dynamic business processes require that our financial community work together to enhance our collective knowledge and expertise.
Full Summary:
No summary paragraph submitted.
Financial ServicesSound financial stewardship is vital to ensuring the Institute’s funds are used wisely and for their intended purpose. This not only preserves resources but also protects the Institute’s reputation. Georgia Tech’s complex and dynamic business processes require that our financial community work together to enhance our collective knowledge and expertise.
“The Institute depends on our network of financial professionals who bring a variety of Institutional skills to our business decision-making. To achieve the goal of institutional effectiveness, it is important that we implement transparency and consistency across our financial processes,” states Jeff Scott, senior vice president for Administration and Finance at Georgia Tech. “This helps ensure that we are performing our functions accurately and professionally; it also removes uncertainty, helps build the confidence of our stakeholders, and enhances job-satisfaction among our employees.”
In order to enable the financial community to serve as good stewards of Institute resources, Institute Planning Resource Management (IPRM) has recently deployed several initiatives.
The Financial Council was launched as a way of promoting two-way communication between central Administration and Finance functions and distributed unit finance personnel across the Institute. The Council held its first meeting in May, when more than 40 participants from across campus began to identify and address common finance-related issues.
Three sub-councils have been established to address needs specific to:
These sub-councils have met this summer to begin identify opportunities and develop solutions to address common challenges. The entire group will re-convene in September to share ideas, discuss progress, and identify additional opportunities for collaboration.
The Institute is committed to upgrading its financial controls, communication, and accountability during the fiscal year-end close. To better assist in this process, the Institute introduced the Year-End Checklist last June.
The Year-End Checklist provides an opportunity for methodical review and communication within both major academic and administrative entities as a part of the year-end close. It parallels the checklist the Institute submits annually to the Board of Regents. By design, the checklist helps personnel with financial responsibilities confirm year-end tasks have been satisfactorily completed, and provides an enhanced opportunity for communication of specific questions or concerns.
Subject matter experts from Administration and Finance have been working closely with Human Resources to finalize the Financial Management Knowledge Developmenttraining series. There will be approximately twenty courses, categorized in two modules – Financial Fundamentals and Extramural Sponsored Programs. All Georgia Tech employees with applicable financial responsibilities will be able to take these courses online. A pilot program commenced in August with GTRI financial administrators. The training, which will be provided on-line via a new learning management system, will be rolled out to other campus financial personnel this fall.
For more information on these and other related initiatives, please visit our website at iprm.gatech.edu.
