Dartmouth College Provost/Dean of the College Finance Center Information Sessions April 2011

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

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

What are the goals of the Finance Center? Better Service Greater Efficiency 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 long term cost of finance administration

Dartmouth College Finance Center Operating Model Department/Division Central Finance Administration Sets strategic budget priorities Makes program and financial decisions Initiates and approves transactions Enforces policies at the department level Determines purchasing decisions Establishes and articulates policies and guidelines Provides reporting support Manages overall coordination of Finance activity across Campus Provides support and strategic direction Ensures consistency and tracks overall performance Finance Center Processes financial transactions 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 financial reports Provides support to strengthen compliance, improve accountability, and standardize processes

Business Process Redesign Background Step Review and Validate Current Processes Create and Validate Future Processes Conduct Gap Analysis & Develop Recommendations Implement and Improve Objective Document ed 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

Business Process Improvement Defining Success for Finance Centers Business Process Improvement Efficient and effective practices Staff focused on high value-added activities Appropriate compliance Culture of continuous improvement Standardized, consistent processes across Dartmouth Cost savings Financial Expertise 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

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

Administrative and Tuck/Thayer Finance Centers Four months of experience to date. Accomplished: Skilled staffing in place Processes defined and refined Trainings held for staff and customers New Payroll Authorization System Simplified Business Expense Reimbursement form developed Finance Center website developed and updated Business expense policies updated Regular department and divisional meetings Underway: Regular meetings with each other and Central Finance Performance metrics tracking and reporting Additional staff training Continuous improvement of processes Integration of Athletics into the Admin. Finance Center In partnership with customer divisions and host departments, we are developing a process for on-going review and refining of processes.

Draft Organizational Chart Provost Finance Center Director Associate Director Research Administration Analyst Operations Manager/Analyst Specialist Senior Specialist, Research Admin Senior Specialist Assistant Vice President for Finance Vice Provost

Summary of Roles and Responsibilities Activity Provost/DOC Finance Center Departments Payroll Prepare transactions Process and enter into systems Store records Initiate Approve Procurement (Where Super User exists, department will prepare and process transactions and store records) P-Cards Perform reconciliation (most depts) Purchase Send receipts to Finance Center (Certain departments will retain P-card approval, reconciliation and storage processes.) Business Expense Reimburse-ment Prepare and review forms Initiate – send info with documentation

Summary of Roles and Responsibilities (Cont.) Activity Provost/DOC Finance Center Departments Budget and Financial Reporting Assist with budget development Input budget Financial reporting Decision support and analysis Budget decision making Budget development Accounting Reconcile accounts Perform journal transfers/corrections Support account reconciliation Initiate requests for journals/corrections External Billing and Revenue Collection Provide support to depts as requested Retain functions – invoices, tracking, collections, reconciliation Research Administration Pre- and post award support Tracking Reporting Compliance Decision making Initiate requests Approve

Service Level Agreements (SLA) Goals of the SLA: Establishes a cooperative partnership between the Finance Center and the divisions/departments. Outlines the principles to govern the relationship between the Finance Center and the divisions/departments. Establishes the respective responsibilities of both parties and clarifies the mutual expectations.

Business Expense Reimbursement Performance Metrics Example SLA Performance Metrics The SLA establishes performance metrics for both the Finance Center and the divisions/departments - currently 27 performance metrics and 8 outcome metrics The Finance Center will report metrics on a quarterly basis and meet with divisions/departments more frequently to discuss and resolve any issues. Business Expense Reimbursement Performance Metrics Example Divisions/ Departments Expectation: Send necessary business expense information no later than 60 days after event (no later than 10 days if cash advance was utilized) Finance Center Expectations: Email completed form to approver within 2 business days of receiving information Enter into accounts payable system within 2 business days of receiving approved Business Expense Reimbursement form

High-level Timeline for Launching 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** Hold learning sessions for Division/Dept staff 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.

Finance Centers Website http://www.dartmouth.edu/~fincenter/

Questions and Answers 11/20/2018