Finance & Administration
The Office of the Vice Provost for Finance and Administration is responsible for the oversight of budgets and finances for the academic division of Drexel University, working closely with Finance, Human Resources, and the academic and administrative units rolling up to the Provost. In this capacity, the Office of Finance and Administration takes a key leadership role in several critical areas including:
- Managing the annual budgeting process for the academic division.
- Overseeing the financial and logistical components of faculty hiring, reappointments, tenure and promotion.
- Assisting the Provost and vice provosts with the execution of strategic initiatives.
- Providing financial and analytical support to the Provost, vice provosts and deans.
- Representing the Provost to offices outside the academic division.
- Distributing information on policies and procedures to the deans' and vice provosts' budget managers through the monthly Academic Administrators Group meetings.
In its oversight role, the Office of Finance and Administration is responsible for approving a wide array of financial and HR-related transactions within the academic division of the university, including benefit-eligible faculty and staff hires, benefit-eligible faculty reappointments, activation of new faculty, data entry in the faculty module of Banner, and Purchasing Card (PCard) requests. In addition, the Office serves in a front-line capacity in responding to inquiries and comments from colleagues in the academic and administrative divisions regarding policies, procedures, and best practices.
Responsibility Center Management
Drexel is adopting a Responsibility Center Management (RCM) model of budgeting, under which our revenue-generating units are wholly responsible for managing their own revenues and expenditures.