Team # 891 -- Data Asset Management Improvement Team
Finance and Business

April 2009

Objective

To digitize all pertinent data in the Office of Investment Management and then create an internal, digital, web-based data system.

Team Membership

  • Sharon Lucas, Leader
  • Aimee Crihfield, Member
  • Karen Hulett, Member

Results Achieved to Date

  • ExpectedResults: The team has transferred all legal agreements, contracts, reports, cash flow and tax data for existing financial managers to digital format. Going forward, the same will be done for historical manager data and Endowment data since the inception of the Endowment. Also, all incoming data will be transferred to remain current.
    We hope to have a comprehensive historical digital record of the University's Endowment since its inception.
    The measure of performance for the project will be the amount of hard copy data that is transferred to digital format.
    The measure of the project's progress will be the ability of the users to access information previously available only in hard copy via a user-friendly web-based system.
  • July 7, 2010

    I would be happy to point out some highlights of the Data Asset Management Improvement Team’s efforts. I would also like to mention that the support and direction of Ms. Jay Sonti - Director of Investment Operations, Office of Investment Management has been instrumental in all of our efforts.

    • Mmany of the files in our file room have been digitized, allowing us to send about 60% of our files to long-term storage or recycling. We were also able to send 4 old steel file cabinets to salvage and to move our more attractive wooden cabinets out into common office spaces. Karen Hulett, Aimee Crihfield and our wage-payroll staff were key to this project.
    • With our newfound space, we were able to turn our former file room (Attachment A) into two additional office spaces suitable for staff assistants, interns or wage payroll workers (Attachment B).
    • As a group, we also attended the 2009 Digital Records Conference in June of 2009.
    • Our web based internal file system built in-house, and known in the office as OIM OneStop (as in “one stop shopping”) is very popular with our executives and staff alike and did not cost our unit a dime.
    • We have also created an secure inter-office shared website for digital files related to our digital bank statements for 100+ accounts. The name of this project is F&B Connect. This was a major accomplishment for our office and provided two other offices within the Finance & Business unit at PSU with a valuable, and very low cost (less than $2 per month) tool.
    O Hardcopies of bank statements were previously housed in our file room (these were 6-8 inches thick each month) as they were at two other locations at PSU, the Corporate Controller’s Office (Old Main) and Financial Reporting (James Elliot Bldg).
    O Statements are digital (completely searchable!) and on a central secure website accessible to all three offices, saving everyone a great deal of time, file space, and greatly reducing paper waste.
    O Working together with the other two offices (who pay for the hosting of the site) we have created a user friendly web interface to allow access to years of data at the touch of a button. Primary project work is done by Karen Hulett.
    O F&B Connect was formally recognized and highlighted at the F&B Moving Forward Event held at the Bryce Jordan Center on November 24, 2009.
    • Currently we are outfitting F&B Connect to create a shared (and secure) central location for digital fund documentation of all three offices (Office of Investment Management, Corporate Controller’s Office, and Financial Reporting) required for the annual audit with Deloitte & Touche. Previously documents were received by one office and faxed to the other two in a very paper dependent manner.
    O Our goal for the new audit section of F&B Connect is to provide daily updates and at-a-glance audit progress tracking – not only for the other offices, but also for the auditors. Since this is the first time anything like this has been attempted, we are very excited to be piloting this project.
    O Again, this will be on a site for which we pay less than $2 per month – saving time, paper waste, and file space, all the while allowing us to turn around requests for data in a matter of a few mouse clicks for our sister units in F&B as well as our auditors at Deloitte & Touche.

    Sharon Lucas - Data Systems Manager
    Office of Investment Management - Penn State
    814-863-9159

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