University of Michigan
News for faculty, staff and retirees

April 25, 2019

finance

August 1, 2017

Amy Wang named director of procurement services

Amy Wang has been selected as the university's new director of procurement services. Wang's appointment will be effective Aug. 7.

In the position, Wang will manage several critical universitywide functions, including purchasing, travel and expense, strategic sourcing, print/copy/mail, and property disposition.

May 7, 2015

PNC Bank is U-M’s new official consumer bank

PNC Bank has been chosen as the university's new official consumer bank, effective May 1.

The agreement allows the bank to offer a variety of free — or low-priced — banking services to more than 80,000 employees and students at the university's Ann Arbor campus.

March 31, 2015

New federal rules coming for research project funding

U-M has begun to implement new federal regulations for the oversight of federally funded research projects.

The new regulations, which were issued by the U.S. Office of Management and Budget, took effect in December, but organizations are allowed to phase them in gradually, which the university is doing over the next two years.

January 9, 2015

New Procurement SPG offers more flexibility and protection

A new Standard Practice Guide covering various aspects of U-M's procurement process includes an increased bid limit, a defined signature authority system, and measures to manage institutional risk.

The new SPG took effect Jan. 1 and was approved at the December Board of Regents meeting, replacing a policy originally issued in 2004.

March 20, 2014

Sullivan named new U-M treasurer

John Sullivan has been appointed as the university's new treasurer. His appointment, effective April 1, was approved Thursday by the Board of Regents.

October 31, 2013

Campus finance and HR processes to move to Shared Services Center

Finance

• Accounting

• Accounts payable

• Billing and accounts receivable

• Travel and expense reimbursement

Human Resources

• Benefits and retirement savings administration

• Data management and reporting

• Time and leave administration

October 19, 2013

Annual financial report finds U-M in excellent fiscal health

The University of Michigan continues to be in excellent financial health because of faculty and staff who are focused on the institution’s core missions “as well as pursuing new ideas to contain costs, maximize resources and increase efficiencies.”

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