The following policy document, which previously completed its full review and approval process, is now published and effective. Please discuss the document with the appropriate people in your department and send any applicable feedback to controllers.office@yale.edu.
Policy 1102 Financial Management Organizational Model
Document:
- Policy 1102 Financial Management Organizational Model
Newly developed Policy 1102 comes from the Senior Vice President for Operations and the Vice President for Finance. It is the result of significant work stemming from its associated project under the OneFinance initiative. The purpose of this effort, and the intention of the document, is to create a defined and consistent financial management model across Yale by:
- Emphasizing the importance of everyone’s role in building a culture of financial integrity and stewardship.
- Simplifying and standardizing financial oversight of units by clarifying and documenting financial roles and responsibilities.
- Making life easier by removing ambiguity in financial roles and responsibilities.
- Creating a more unified finance function campus-wide.
This policy, in conjunction with parallel work within the project, aims to accomplish several objectives:
- Establish a clear understanding of the roles, responsibilities, and accountabilities of three key leadership roles (Unit Leader, Finance Functional Leader, and Lead Administrator) with respect to financial oversight and how they will work together in the future to ensure effective and streamlined financial management of the school/unit.
- Formalize that the Lead Administrator receives their financial authority via a delegation of authority from the VP/CFO through the Financial Functional Leader.
- Codify the dual reporting structure of the LA to reinforce its importance, provide clarity, and make it sustainable.
Reminder:
Always check Policies & Procedures for the latest revisions of all documents. This will ensure that you are utilizing the most up-to-date version.
If you have any questions, please contact the University Policy Office at controllers.office@yale.edu.