OneFinance: January 2023 program update

To enable Yale’s mission, simplify and standardize financial services in order to make life easier where everyone has a role in building a strong culture of financial integrity, insight, and stewardship of Yale resources.

The OneFinance program has mobilized a cross-functional team to identify and prioritize a number of projects critical to our mission. Since our last update in November 2022, the program team continues its work to advance our NorthStar. Here are some highlights:

Accomplishments

• The OneFinance web page has launched as a part of the new Operations website. This will be consistently updated to provide you with the most current information about the program, News & Announcements, Resources and Training, and OneFinance Timeline.
• The OneFinance At-a-Glance document will be available monthly, summarizing the program’s work. We encourage you to share this document with your staff during team meetings to keep them fully informed about the program. Please contact us with any questions.
• Policy 3210 Purchase Contracts, previously Policy 3210 Professional Services and Consulting, has been renamed and revised to an all-inclusive policy on Purchase Contracts. The Yale community now has one point of reference to help understand contracts and purchase requirements and procedures.
• A central monitoring tool to scan for the inappropriate splitting of purchase orders has been implemented, with parameters and procedures defined for follow-up actions where necessary.

What’s Next

Teams have been assembled, and work has begun on the following projects. Learn more about these projects by reviewing the January 2023 OneFinance At-a-Glance document.

• PO Practice and Execution
• OneFinance Think Tank
• Financial Review Enhancement
• Dashboard Monitoring
• Financial Training Program Development

Did You Know…

Other noteworthy projects have been completed that, while not part of the OneFinance program, advance the objectives of our NorthStar.

• The University Controller’s office, in partnership with departments across the university, has been implementing an electronic payment acceptance solution. E-Commerce Payment Acceptance at Yale (ePAY) platform is fundamental to ensuring that Yale has a standardized, scalable, efficient, and compliant payment acceptance solution that will keep pace with department and business unit’s growing credit card transaction levels.
• The Finance Training and Development team is piloting a Finance Foundations onboarding program with Central Finance with the expectation of deploying University-wide in FY24 for finance staff. In addition, Finance T&D has launched the Introduction to Chart of Accounts eLearning course, now available on TMS, which replaces the instructor-led training offered previously.

Questions

Go to the OneFinance web page or contact us via email at onefinance@yale.edu.

Thank you for your engagement and support.

On behalf of the OneFinance Strategic Initiative team, we wish you a joyous and prosperous 2023!

OneFinance Program Leads:
Brian Rebeschi, Executive Director, F&A – YSM Business Operations
Lisa Varni, Associate Controller, Internal Controls and Compliance