A new day...

November 30, 2012

We had the Second Annual Finance Summit this week with over 100 participants from all parts of campus (see the presentations and posters). It demonstrated the great progress we have made in moving towards a very different world in terms of how we think about strategy, finance, and the links to unit budgets. Given the overall tight resource situation that we will continue to face –let’s not forget Prop 30 avoided further cuts but it did not restore past cuts–  it is imperative that we align our resources with our overarching strategic objectives; that is, access and excellence. This can only be achieved if we have accurate data, transparency, and clear incentives that align with our mission. It also requires that units flesh out their business strategies, look at all sources of revenue and expenses, and engage in a process of prioritization. We need to work together to break down the historical silos that have trapped resources into accounts, undermining our effectiveness. The finance team is leading this change process, taking many risks along the way, but showing terrific results. They are doing so in partnership with the leaders and staff across campus and thereby learning from the people they serve. One thing is clear, an open and positive process of collaboration will get us to where we need to go.  And it energizes everyone involved!  It’s a new day….