September 13, 2021
Last week, our University’s Board of Regents voted to approve a revised scope, schedule and budget for the UW Finance Transformation (UWFT) program, an undertaking as big and complex as it is mission-critical. As I wrote last year, updating our nearly-five-decade-old finance systems to a modern, efficient and standardized infrastructure is part of our responsibility as stewards of this venerable public institution. I’m grateful to the UWFT leaders and program sponsors for their work to revise the scope, as well as to the Regents for their continued commitment to investing in our University’s future.
The revised scope both expands and clarifies important aspects of the program, including the creation of a financial data repository for critical data storage and additional implementation resources that will be critical for the rollout of this new infrastructure. It also extends the implementation deadline by a year, to July of 2023, and approves a supplemental $71 million in the budget.
The work of transforming our fragmented and out-of-date finance policies, processes and systems remains a core institutional priority for both Provost Richards and me because it is so important to our University’s public mission of education, discovery, community service and patient care. When completed, the new infrastructure will enable our huge and multi-faceted organization to make real-time, well-informed and transparent financial decisions. This will allow us to make the most efficient use of the campus and state resources entrusted to us.
Throughout this daunting and complicated project, our team of UWFT professionals have set the standard for excellence, despite juggling the demands and constraints of working throughout the pandemic. This includes a number of staff who were hired during the pandemic, who have yet to set foot on campus, but continue to deliver high-quality work that reflects the values we all share. Thank you to everyone who is supporting this vital investment in our University’s long-term future as we continue on our path to completing this important work.