The East Tennessee State University (ETSU) Board of Trustees convened on September 15, 2023, to discuss significant updates regarding campus operations and strategic initiatives. The meeting focused on the implementation of a new financial management system, which is expected to enhance efficiency across various administrative processes.

The first major topic addressed was the transition to an electronic expense reporting system. This new mobile application will allow employees to upload documentation directly from their phones, replacing traditional paper forms. The initiative aims to streamline approvals and reduce processing time, benefiting both business managers and finance staff. The new system will also provide enhanced visibility into budget details, allowing managers to access personnel budget information without needing to consult Human Resources.

Further improvements were discussed regarding inventory management and grant administration. The introduction of a projects module will facilitate better tracking of grants, enabling invoicing and accounting to occur within a single platform. Additionally, the system will calculate indirect costs daily rather than monthly, improving financial oversight.

The general ledger will see enhancements, including the addition of subledgers for detailed tracking and a financial accounting hub that consolidates student account information. This will simplify reporting and allow for more comprehensive financial analysis.

The board also received an update from Dr. Mike Hoff, who emphasized the importance of tracking key performance indicators (KPIs) related to student outcomes post-graduation. He highlighted the complexity of reconciling data from various sources, particularly when assessing the success of graduates in the job market.

The meeting concluded with a commitment to the go-live date for the new financial system set for January 1, 2024. The board expressed appreciation for the efforts of the staff involved in these transformative projects, recognizing the potential for significant improvements in operational efficiency and data management at ETSU.