The University seeks to transform its financial systems, processes and policies to achieve productivity gains, streamline processes, and satisfy regulatory and compliance obligations, while providing institutional and unit management.
Provost Mark Richards and President Ana Mari Cauce deem UW Finance Transformation as one of the University’s top strategic priorities and are committed to supporting the effort.
What is UWFT doing?
The scope of UWFT’s program work includes implementing the following three components:
- New system (how activities are done)
- New business processes (what activities are done)
- New operating model (where activities are done)
What does this mean?
- The way we access and view reports will change
- The way we budget will change
- The way we buy and requisition will change
- The way we close the books will change
- The way we describe things will change
- The way we interact with other business systems and tool will change
What is out-of-scope?*
- Children’s University Medical Group
- Metro Tract
- Other 501c3 and affiliated organziations (KEXP, KUOW, etc.)
- Portage Bay
- Real Estate Entities
- Seattle Cancer Care Alliance (except for Supply Chain)
- UW Alumni Association
- UW Foundation
- UW registered entities abroad or established outside US
- Valley Medical Center *The above organizations are “out of scope” for the Workday Finance Implementation regarding financial operational activity, beyond the need for the UW Enterprise to record entries to support development of UW consolidated financial statements. In some instances, however, financial activity may be in scope related to these entities in which the operational transactions are significantly coupled with UW operations, for example, gift or grant funds provided to 501c3 organizations for the benefit of UW. This includes entities such as UW Foundation, KUOW and other affiliated organizations. Though, the overall financial operations for these entities are out of scope.