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| We're making progress! |
Here’s an update on how we’re moving these priorities forward.
A Community-Driven Approach to Improvement
Over the last quarter, the many of our improvement initiatives have gained meaningful traction. What began as targeted remediation and technical clean-up efforts has grown into a broader movement toward consistency, accountability, and clarity in our financial processes.
One standout example is the Payroll team’s recent “listening tour,” where they met with nearly 20 departments to understand challenges related to payroll costing and accounting adjustments. This effort, led by Victoria Peprah-Asante and Joel Kreider, shows a commitment to continuously reviewing and improving payroll processes within Workday. Rather than offering one-size-fits-all solutions, the team has prioritized early and authentic engagement with the community of financial partners across grounds. This approach was met with enthusiastic support from those closest to the work.Now in its next phase, the team is analyzing feedback and exploring improvements such as targeted training, streamlined workflows, and system enhancements within Workday.
The Power of Partnership
As we continue to make progress, the cross-functional teamwork within UVAFinance and across grounds has been instrumental in many of our priorities:- Payroll Transparency and Reconciliation: In partnership with the Workday Support Team, the Payroll Team led improvements that separate garnishment and tax withholdings into distinct ledger accounts. This involved updating posting rules, financial logic, and reporting templates, making payroll reconciliation easier and more accurate across UVA.
- Balance Sheet Reconciliations Near Completion: The UVA’s institution-wide balance sheet reconciliation effort is now fully underway within the Workday system. The work spans nearly every ledger account and was made possible by the Financial Reporting Team and the Workday Support Team, but numerous functional teams across Grounds are engaged quarterly to complete the reconciliation work that underscores our commitment to financial accuracy and institutional financial integrity.
- Lease Accounting at Work: In conjunction with the UVA Foundation, the Financial Reporting team completed a thorough review of the lease accounting treatment for a new complex lease, establishing best practices for handling complex lease arrangements and ensuring reporting accuracy for the future.