News and Information: Article
Two UCF Financials Teams Win 2016 Prudential Productivity Award
Two teams have been recognized with the 2016 Prudential Productivity Award at a luncheon held at the Buena Vista Palace in Orlando on June 23, 2016. The Prudential Productivity Award is sponsored by Florida TaxWatch and is held to honor state employees who innovatively reduce costs and improve services for Florida taxpayers.
According to Florida TaxWatch President and CEO, Dominic Calabro, “State workers hardly get the praise and honor they deserve for a job well done, and this program ensures that the taxpayers are noticing their contributions, and are thankful for all that our public servants are doing to make Florida a great place to get a job, raise a family and start a business.”
Over the course of the 28-year program, state employees have been recognized and rewarded for saving more than 9.2 billion in taxpayer dollars. In the last 15 years, UCF employees have submitted numerous cost-saving initiatives and programs, and a number of teams and individuals have won awards. Finance and Accounting employees participated on two teams that were singled out for awards at this year’s ceremony:
- The Asset Management Physical Inventory Project Team, comprised of members Varsha Das, Marcia Maukonen, Glen Carlson, Rebecca Vilsack, and Tereasa Clarkson, researched and implemented a lower cost solution for a required software upgrade. The team’s efforts resulted in a first-year savings of approximately $72,000 for the required software upgrade and equipment with an additional savings of approximately $9,000 per year for ongoing maintenance.
- The UCF Research Foundation (UCFRF) Financials Project Team, comprised of members Rebecca Vilsack, Kim Smith, Kristal Jackson, Dorann Mullins, Elena Wilson, John Gyory, Patricia Kentish, and Mieraf Tadesse, implemented the UCFRF Financials Project on July 6, 2015. The team replaced UCFRF’s legacy financial application with UCF Financials, thereby saving outside software licensing and consulting fees normally associated with such a project. The completed project resulted in the following:
- Increased capabilities for managing contracts, grants and projects
- Automated billing
- Accurate tracking and reporting of accounts receivable
- Enhanced financial reporting
The project resulted in a savings of $233,000 in software, licensing, maintenance and consulting fees over the first fiscal year.
Congratulations to both teams!