Lion Shrine at University Park

Finance and Business announces its new five-year strategic plan
Finance and Business (F&B) has announced its new five-year strategic plan, which focuses on creating positive change for employees and the Penn State community. The new 2020-25 strategic plan will include four measurable goals with several key action items to guide implementation. The planning effort was led by the Core Planning Team, F&B Leadership Team and F&B community members. Read More



Recategorization of current staff positions bringing positive change
On July 1, Penn State will begin implementing phase two of the University-wide Job Categorization Process, which focuses on recategorizing current staff positions as part of the University's efforts to not only increase clarity for new and current employees but also to enhance its ability to compete for the most qualified job applicants. Penn State will also adopt new names for various position types to reflect changes that have been made in its budgeting process. The name/category changes will not impact salaries or job responsibilities.  Read More



Sara Thorndike Portrait

Sara Thorndike named senior vice president for Finance and Business
Sara Thorndike, vice chancellor for administration and finance and chief financial officer at East Carolina University, has been named Penn State’s new senior vice president for Finance and Business/treasurer, effective Jan. 18, pending final approval of the Penn State Board of Trustees Subcommittee on Compensation.

Thorndike’s appointment follows a national search. She succeeds David Gray, who announced his intention to retire in 2020 after eight years of dedicated service to the University. Read More


Campus Exterior Shot

Procurement Project is Estimated to Save Penn State $45M in Annual Cost-Savings
The Resource Optimization Initiative (ROI) announced the launch of the Strategic Procurement Transformation (SPT) project, which is designed to save Penn State approximately $45 million in annual cost-savings and further leverage SIMBA, the University's new financial management tool. Read More


University Shares Police and Public Safety Budget Data
In light of recent requests from members of the University community to convey information about the budget for University Police and Public Safety (UPPS), the University is sharing actual revenues and expenditures for UPPS for three prior fiscal years as well as budgeted amounts for the current fiscal year (Fiscal Year 2020-21). Read More



F&B Unit News