from the Vice President and Chief Financial Officer

I am pleased to present the University of Florida Annual Financial Report for the fiscal year ended June 30, 2015. This report includes Management’s Discussion and Analysis (MD&A), financial statements, and notes to the financial statements which provide useful information concerning the University’s financial position and activities for the year. A summary is provided in the Financial Highlights section of the MD&A on page six.

The mission of the Office of the Vice President and Chief Financial Officer is to “Provide leadership in financial planning, decision making and process improvement.” We continually seek opportunities that allow us to implement our mission and return monies back to units accomplishing the University’s missions of education, research and public service. Highlights of some of our accomplishments include:

  • In an effort to help improve business intelligence tools, “myinvestiGator” was created. This is a web-based, intuitive, easy to use decision making tool to help faculty and staff track the nearly $700 million in annual research funding at the University of Florida. The estimated annual time and effort savings from the creation of myinvestiGator is approximately $5 million.
  • We continue to implement a managed print solution for campus. This solution has a multiyear rolling implementation timeframe that will encompass copiers, fax machines, scanners and printers.
  • Estimated annualized savings accruing to the user units of approximately $1.1 million are expected to continue from this implementation.
  • We have established the Business Process Improvement Office that seeks to find ways to improve, streamline and simplify the way we do business at the University.
  • Our Gator Business Administrator Services program provides professional development opportunities and resources to assist business administrators in their roles at UF. This program continues to grow in scope of service offerings as well as number of participants.

In addition to the business processes improvements and efforts noted above, fiscal year 2015 included the completion or near completion of several major construction projects:

  • Heavener Hall - houses the undergraduate program for the Warrington College of Business;
  • Cypress Hall - a residence hall designed for undergraduate students and students with disabilities; and
  • Several renovation projects on various residence halls.

Construction continues on several major projects including the George T. Harrell, MD Medical Education Building, and the J. Wayne Reitz Union construction and renovation project. The Harrell Medical Education Building, expected to be completed in 2016, is named after the College of Medicine’s founding dean and aspires to be a national model for active learning and medical simulation. The Reitz Union project is expected to be completed later this year. The dramatic expansion and renovation project adds 100,000 square feet of new space for student clubs and organizations, quiet study spaces, lounges and dance rehearsal studios.

The University enterprise continues to advance its mission with UF Health constructing two new hospital towers in Gainesville and one in Jacksonville. The University Athletic Association has completed work on an indoor practice facility and continues work on renovations to the Office of Student Life. In addition, much needed renovations to the Stephen O’Connell Center, jointly funded by UF and the University Athletic Association, are scheduled to begin in the spring of 2016. The University of Florida Foundation continues to raise essential private funds that help advance the mission of UF. Finally, the research enterprise led by the Office of Research and the University of Florida Research Foundation has continued to grow and expand the business of scholarly research.

The State of Florida has continued its investment in higher education by providing new performance funding as well as additional funding for the preeminence initiative enabling the University to add new faculty. In addition, the State appropriated $13 million for the Nuclear Science Building renovations (NEXUS Engineering Addition).

We remain steadfast in our commitment to invest in the best solutions and successes for educating current and future generations.

Sincerely, Vice President and Chief Financial Officer Signature Michael V. McKee
Vice President and Chief Financial Officer