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"2005 Effective & Innovative Practices Award Winners Show Imagination and Practical Solutions / University of Miami: How the University of Miami's Facilities Administration Department Uses Customized Financial Reports to Manage Costs"
Author: Nash, Leonard
Published In: Facilities Manager
Date: September/October 2005

To systematically measure and manage expenses, the University of Miami's Facilities Administration Department has developed a system of clear, comprehensive, adaptable cost reports that present detailed budgetary information to facilities administrators, maintenance managers, deans, and other university officials. Program has saved an average 2.3 percent per year, which the administration allows the department to reinvest. Describes the institutional benefits, innovative and creative aspects of the program, its portability and sustainability, management commitment and employee involvement, and documentation, analysis, customer input, and benchmarking.

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