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Services


Office of the Vice President for Finance

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, and asset management.

Quick Links
- Atlas Homepage
- SmartBuy: Buy from MIT's Partner and Preferred Vendors
- Online and in-person training
- Concur Travel Expense Reporting
- Electronic Request for Payment (eRFP)
- Wire Transfers
- Procurement Card
- G/L Accounts
- Procurement Forms

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 provides services to enable departments, labs, and centers (DLCs) and student groups to collect, deposit and disburse funds in an efficient and secure manner.

Financial Accounting & Reporting

Financial Accounting & 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.

HR/Payroll

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

Sourcing & Procurement

Sourcing & 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 equipment and tracking all capital costs associated with buildings.

Sponsored Accounting

Sponsored Accounting provides services to ensure fulfillment of funding, posting, and reporting actions in compliance with contracts for all MIT sponsored research and other external collaborations.

Tax Services

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

Travel

Travel provides favorable pricing with travel-related suppliers and manages the expense reporting and reimbursement process to assure compliance with the travel policy, achieve cost savings, and meet the needs of travelers and administrators.

Merchant Services

Merchant Services oversees the safe handling of credit cards for merchants within the MIT Community. MIT is committed to the highest data security standards for management of credit card information.

Budget, Finance & Treasury

Budget is responsible for supporting DLC resource planning and monitoring

Finance is responsible for supporting Institute financial projections and resource allocations

Treasury is responsible for the availability of funds

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.