Welcome to the VPF Website

The Office of the Vice President for Finance (VPF) is committed to providing the MIT community with superior services in the areas of financing strategy, financial and capital planning, annual budgeting, receipt and disbursement of funds, accounting, procurement, insurance, and asset management.

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Accounts Payable

Accounts Payable processes vendor payments, travel advances, travel reimbursements and independent contractor payments.

Accounts Receivable

Accounts Receivable is responsible for billing, collection, and monitoring of general receivables for the Institute. Included in general receivables are various groups at the Institute that choose to use VPF-provided services, such as the MIT Medical Department, Libraries, Endicott House, and Benefits Accounting.

Cashier

The Cashier is responsible for the following tasks: accepting check and cash deposits from departments, labs and centers (DLCs) and student groups; replenishing petty cash; redeeming petty cash slips and human subject vouchers; and merchant service activity associated with the setup and reconciling of accounts.

General Ledger Operations & Reporting

General Ledger Operations & Reporting is responsible for the general ledger and internal and external financial reporting.

Insurance

Insurance purchases casualty, property and construction insurance for the Institute and administers claims.

Journal Vouchers

Journal Vouchers is responsible for reviewing all journal documents that require secondary approvals and provides training and assistance regarding journal issues.

Lincoln Fiscal

Lincoln Fiscal provides accounting, labor distribution, and cash management services to MIT’s Lincoln Lab.

Payroll

Payroll is responsible for employee and retiree payroll, and includes the Insurance Plans Accounting section.

Procurement

Procurement assists in procuring goods and services by ensuring favorable prices, protective terms and conditions, and compliance with MIT and federal policies and procedures.

Property

Property is responsible for the accounting and asset management of campus and Lincoln Lab equipment and tracking all capital costs associated with buildings. The department includes the Lincoln Property Office.

Sponsored Projects Accounting

Sponsored Projects Accounting is responsible for the auditing and final reporting of all federal and non-federal sponsors in accordance with Institute and sponsor guidelines. They are also responsible for the billing and collection of revenue for both federal and non-federal sponsors.

Tax

Tax is responsible for non-payroll tax issues, including federal, state and international filing requirements.

Travel

Travel is responsible for managing the expense reimbursement process to ensure that the process supports travel policy compliance, improves efficiency and increases savings.

Controller & Accounting Services

Accounting Services is responsible for payroll and accounts payable disbursements, sponsored and general billing, cash receipts and collection, fixed asset accounting and control, MIT's general ledger and financial reporting, and payroll and non-payroll tax matters.

For information on our service areas and organization structure, please see the Accounting Services section of the organizational chart.

Budget, Finance & Treasury

The Office of Budget, Finance & Treasury is responsible for developing the Institute's financial strategy and annual budget, providing budget reporting, treasury functions and analysis for sound management, and supporting DLC and Institute initiatives.

Welcome to the VP for Finance

The Vice President for Finance (VPF) is responsible for financing strategy, financial and capital planning, annual budgeting, receipt and disbursement of funds, accounting, financial reporting, procurement, insurance, and asset management.

We are committed to delivering the highest quality service to our faculty, staff and students across the Institute. We strive to provide smooth systems, streamlined processes and clear policies that will facilitate the work of administrators across MIT.

To meet these responsibilities, our work is organized into the service areas in the boxes on the left, and our staffing/reporting structure is shown in the organization chart below.