Strategic Initiatives

Exterior shot of Old Main's clock tower

Finance and Business has undertaken a number of strategic initiatives addressing key focus areas that allow the University to promote financial transparency, stability, and accountability. The following are F&B's current initiatives: 

 

Finance and Business Sustainability Initiatives

Finance & Business aims to increase sustainability across the University and has worked to transform its units into champions for environmental action. Learn how the F&B units continue to tackle new sustainability challenges with innovative and efficient solutions.

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Financial Resources Enhancement Initiative (FREI)

To support the ongoing transformation of Penn State’s budgeting and fiscal management operations, a Financial Resources Enhancement Initiative (FREI) launched in February 2022 with the goal, to not only amplify new capabilities and processes made possible by the SIMBA implementation but also to align current and future financial staff members’ skills and responsibilities with new technology and innovations.

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Resource Optimization Initiative (ROI)

ROI focuses on the implementation of the workstream recommendations, giving the University the opportunity to use its financial, reputational, and operational capacity to rethink investment in students and reframe the conversation around affordability. Former President Barron established eleven workstreams to help drive evolution and plan a long-term overview of operations for the coming years. 

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Strategic Budget Approach Initiative (Strategic Budget Task Force)

On December 18, 2018, Nicholas P. Jones, Executive Vice President and Provost, and then Senior Vice President for Finance and Business/Treasurer, wrote to key university stakeholders asking them to serve on a new Strategic Budget Task Force. Several recommendations were given to improve budget transparency and optimize financial decision-making. 

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Taking Action

We asked. You responded. We're taking action. The 2013 Values and Culture Survey indicated high rates of observed misconduct, intimidation, and a lack of trust and accountability within Finance & Business. We want to continue to address these issues and create a healthy environment in which everyone can do their best work.

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