By Pat Moody, Chief Financial Officer/Treasurer
As we try to do annually, Jean Davis and I met with the financial leadership of MCNC’s larger customers this past year. Our purpose is to provide financial transparency to our customers, give them an opportunity to ask any questions they may have, and most importantly, convey our desire to work with them as partners.
In years when there are new members in our customers’ financial leadership, we additionally acquaint them with MCNC’s cost accounting methodology and internal financial management practices. Through this we hope to convey from a financial perspective the seriousness with which we manage the services provided. This includes our in-depth understanding of MCNC’s costs and cost consciousness, and the extent to which MCNC’s departmental and project managers have attained a high degree of financial awareness and responsibility.
We also share with our customers MCNC’s active participation in The Quilt’s Financial Focus Group (FFG). The Quilt is a national coalition of non-profit, U.S. regional research and education networks (RENs) representing 40 networks across the country. Not as well-known is The Quilt’s FFG subcommittee. The FFG has proven to be a wonderful resource that the financial management of the various RENs can utilize to share best practices, compare our performance ratios and statistics, and to engage in lively conversations related to accounting treatments, financial reporting, and much more. I think it can also provide additional assurance to our customers to know that we make efforts to compare ourselves to other RENs and work to improve MCNC when areas of improvement are identified.
It is our hope through our annual financial roadshow that MCNC’s customer partnership is supported not only by the quality of service and exemplary technical staff, but also by financial transparency and responsibility.