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Aug 24, 2022 262 likes •528 views

Meeting Agenda Welcome and opening remarks Israel Ruiz, Executive Vice President and Treasurer Update on Kendall Square construction Israel Ruiz, Executive Vice President and Treasurer The MIT Stephen A. Schwarzman College of Computing

SLIDE 1

Meeting Agenda

 Welcome and opening remarks

Israel Ruiz, Executive Vice President and Treasurer

 Update on Kendall Square construction

Israel Ruiz, Executive Vice President and Treasurer

 The MIT Stephen A. Schwarzman College of Computing

Martin A. Schmidt, Provost

 VPF and financial update

Glen Shor, Vice President for Finance

 Overview of new MIT policies website

Marianna Pierce, Policy and Compliance Specialist Kate Miller, Manager of Institutional Compliance

SLIDE 2

VPF and Financial Update

Glen Shor, Vice President for Finance

SLIDE 3

$1.47 billion

Annual payroll

$1.5 billion

Payments processed on 381,000 invoices

60,086

Travel expense reports

505,016

Payroll payments to 21,782 individuals

$696 million

Campus sponsored research revenue collected

4,307

Travel cards

3,928

Procurement cards

$2.18 billion

Revenue via wires, checks, and internal transfers

45,761

Journal vouchers

$67.6 million

In credit card payments via 450,000 transactions

60,000

Pieces of equipment in biennial inventory cycle

1,478

Tax forms

$3.6 billion

Institute budgeted expenditures

2,980

Budget change transactions

299

Departmental budget submissions

5,702

New pieces of equipment tagged

5,110

Contracts reviewed, negotiated, and signed

VPF by the Numbers Fiscal Year 2018

10%

Increase in leased space for The Engine

SLIDE 4

119

SLIDE 5

119 Wins in 2018

9 World Series Championships

SLIDE 6

SLIDE 7

$1.47 billion

Annual payroll

$1.5 billion

Payments processed on 381,000 invoices

60,086

Travel expense reports

505,016

Payroll payments to 21,782 individuals

$696 million

Campus sponsored research revenue collected

4,307

Travel cards

3,928

Procurement cards

$2.18 billion

Revenue via wires, checks, and internal transfers

45,761

Journal vouchers

$67.6 million

In credit card payments via 450,000 transactions

60,000

Pieces of equipment in biennial inventory cycle

1,478

Tax forms

$3.6 billion

Institute budgeted expenditures

2,980

Budget change transactions

299

Departmental budget submissions

5,702

New pieces of equipment tagged

5,110

Contracts reviewed, negotiated, and signed

VPF by the Numbers Fiscal Year 2018

10%

Increase in leased space for The Engine

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Net Assets

1960 1970 1980 1990 2000 2010 2018

$0.2B $0.4B $0.6B $1.5B $8.2B $10.3B $21.5B Endowment $6.5B $16.4B

SLIDE 11 13% 15% 13% 11% 11% 1% 2% 2% 56% 46% 36% 32% 26% 9% 13% 22% 26% 32% 9% 10% 10% 9% 12% 7% 9% 12% 15% 11% 5% 6% 6% 5% 5% 1981 1991 2001 2011 2018 $328M $688M $1,118M $1,922M Fees, Services & Other Revenue Current Use Gifts & Pledge Payments Research Revenue Net For-Degree Tuition Revenue $2,603M Auxiliaries Non-Degree Tuition Revenue Support From Investments

Campus Revenue Mix

SLIDE 12 18.9% 31.1% 34.2% 29.5% 33.5% 31.2% 32.5% 51.8% 61.7% 78.3% 82.1% 84.5% 1961 1981 1991 2001 2011 2018 Median Family Income Gross tuition as % of median family income Net tuition as % of median family income Source: MIT SFS; Median family income schedule F8 US Census Note: Net tuition and fees per undergraduate student based on total financial aid / # undergraduates 2018 median family income calculations use 2016 median family income $59,039 $5,700 $19,074 $30,126 $42,228 $50,054 $59,039 1961 - 2018 2001 - 2018 Nominal Real Nominal Real Tuition 6.3% 2.5% 3.9% 1.9% Net Tuition 5.6% 1.8% 1.4%

0.5%

Tuition $1,500 $6,200 $15,600 $26,050 $39,212 $49,892

Financial Aid Enhancements vs. Median Family Income

SLIDE 13

Capital Projects Summary

Completed

Ralph Landau Building (66)
MIT Chapel (W15)
Kresge Auditorium (W16)
Morris and Sophie Chang Building (E52)
The Simons Building (2)
Sam Tak Lee Building (9)
Building 31
Theater Arts Building (W97)
MIT.nano (12)
New House residence (W70)
Building E40 MicroMasters

Under construction

Vassar Street Residence (W46)
Central Utilities Plant (42C)

Kendall Square

MIT Museum (Site 5)
Innovation and Entrepreneurship Hub,

Forum, Admissions, Graduate tower, childcare (Site 4)

Open spaces

In design

Metropolitan Warehouse (W41)
Wright Brothers Wind Tunnel (17)
Green Building renewal (54)
Hayden Library (14)
Building 4 fourth floor

In planning

Green Building addition (54)
Pierce Boathouse (W8)
Music Building (MB)

W97 66 W15 W16 E52 2 9 31 12 E40 W46 42C Site 4 Site 5 W41 17 54 14 4 W8 W70 Open space MB

SLIDE 14 $183M $280M $180M $246M $278M $206M $180M $77M $88M $49M 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Operating Results

SLIDE 15

New Federal Tax Law

Savings Training Partnerships Tools

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Online Selection

f Source Form

Making Progress, Step by Step

SLIDE 18

Online Selection

f Source Form

Making Progress, Step by Step

Updated Record Retention Policy Web-Based Selection

f Source Form

Central Amazon Business Account

SLIDE 19

 See  Compare  Choose  Built-in forms  Smarter systems  No receipts needed

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SLIDE 22

VPF Organization Chart

Vice President for Finance VPF Headquarters Practice and Process Improvement Budget and Financial Analysis Administrative Services and Operations Financial Operations Controllership Strategic Sourcing and Contracts Merchant Services Accounts Payable Financial Systems and Data HR/Payroll Procurement Operations Financial Accounting and Reporting Sponsored Accounting Cashier Services Accounts Receivable Property Office Contracts Strategic Sourcing Tax and Global Operations Travel and Card Services Treasury and Planning Practice and Process Improvement Treasury and Planning Office of the Recording Secretary Accounts Payable Travel and Card Services Procurement Operations Strategic Sourcing and Contracts

SLIDE 23

Piecing It Together…

SLIDE 24

Piecing It Together…

SLIDE 25

Thank you