Finance Realignment Will Strengthen Operational and Strategic Effectiveness
Today, we are announcing changes in our finance functions to help streamline our processes and better align finance activities under the direction of KU’s Chief Financial Officer.
Later this fall, Financial Services will transition from the Office of the Provost to the Office of the CFO. Financial Services currently reports to Vice Provost for Finance Jason Hornberger. Business functions that will be affected include accounts payable, accounts receivable, student accounts, accounting services, payroll, travel and the KU Card Center. Members of our campus community who engage with these operations should not notice any changes in service as a part of this transition.
As part of this change, Katrina Yoakum will take on a new role as Controller, and Craig Alexander, Senior Director of Financial Services, will report to her.
Additionally, Procurement Services will transition to the Office of the CFO. A national search is under way to fill our vacant Chief Procurement Officer position, which will report to CFO Jeff DeWitt. The position will be key to our efforts to lower our overall costs throughout our purchasing cycles.
These finance activities are key to cash management, financial reporting, banking and credit rating, and align well with the responsibilities of the CFO’s office. Also, the transfer of these units from the Office of the Provost to the CFO will free up additional time for Jason Hornberger to focus on strategic financial management as we move to a new all-funds budget and implement updated budget reporting and management processes. The Shared Service Centers also will continue reporting to Jason.
As we mentioned in a recent message describing changes to our Enterprise Risk Management functions, we are continuing to seek out opportunities for our university to streamline our operations in order to function more effectively. As these opportunities present themselves in the future, we will continue to keep you informed of these changes.
We want to thank Jason, Katrina and Craig for their ongoing service and stewardship for this institution. We appreciate their willingness to adapt their roles and responsibilities to ensure greater efficiencies and streamlined processes during this critical time in the university’s history.
As ever, we thank you for your important contributions to our KU community.
Barb and Jeff
Barbara A. Bichelmeyer
Provost and Executive Vice Chancellor
Chief Financial Officer and Executive Vice Chancellor for Finance