In 2018, MIT adopted the Uniform Guidance framework for its purchasing policy for all purchases made at the Institute. VPF implemented these Uniform Guidance procurement standards and introduced a new online Selection of Source form to document the steps taken when selecting a supplier for purchases exceeding $10,000.

VPF is offering a variety of training opportunities this fall, on a wide range of finance topics.

The MIT 2020 Report of the Treasurer was published on Friday, September 11, 2020, and is available on the Publications page of the VPF website.

The VPF Financial Accounting and Reporting (FAR) team has updated the list of all General Ledger (G/L) Accounts in use at MIT.

As the end of the fiscal year approaches, please note that purchase order closeouts can be completed by using the Close Purchase Orders form. Go to the B2P homepage, and under MIT Buying and Paying Resources, choose “Close Purchase Order” to access the form.

VPF implemented several changes to policies governing use of the MIT Travel Card and Procurement Card (ProCard) on May 18, 2020.

This is the second of a four-part series highlighting collaborations between the VPF Strategic Sourcing and Contracts team and members of the MIT community. The Strategic Sourcing and Contracts teams proactively address MIT’s complex purchasing needs by sourcing products and services for a wide range of education and research needs, developing and negotiating contracts, and finding solutions to complex problems. 

If you need images for a website, social media post, print project, or event, you can hire a photographer, purchase images, or find a collection of MIT-owned images online. Check out the details below.
 
Hire a Photographer
 

If you make recurring small-dollar purchases for your DLC, you should use the Procurement Card (ProCard) instead of issuing a blanket purchase order (PO). This preferred payment method should be used for items such as dry ice, FedEx shipping fees, lab coat cleaning or rental fees, and cell phone bills.

The MIT 2019 Report of the Treasurer is available on the Publications page of the VPF website. The 48-page Report is a public document and officially states MIT’s financial position at the close of the fiscal year that ended June 30, 2019.

A story on the release of the Report and highlights on the endowment figures for fiscal year 2019 is available on MIT News.