This performance measure is important because it informs management and employees about how efficiently the unit is managing the financial and business aspects.

The Business Office utilizes KPIs to locate barriers to successful operations and design strategies that will lead to better performance. Internal influences include properly trained Accounts Payable (AP) staff and having trained backup staff to fill in when key AP positions are out of the office or vacant.  External influences include ensuring that invoices are correct and ready to pay when received in AP. This may involve training other DVHA staff and reaching out to vendors.  An annual influence is the June/July period. Contract invoices received mid to end of June cannot be processed until July due to the Department of Finance and Management guidelines for year-end closeout. Because of this, the percentage of invoices processed more than three days after receipt greatly increases.

At of the start of state fiscal year (SFY) 24, DVHA’s AP/AR team is focusing on invoice processing time and looking for ways to make the process more efficient.  Given that the team has become more seasoned in their positions, they can now review more complex invoices with multiple funding streams, program codes, and account codes. As a result, the team can now transition their focus to reporting changes to have more information available at their fingertips when asked, drill down into the details, and make budget recommendations when needed based on historic spending and future needs for the department.  

Last updated:  08/07/23

• Department of Finance & Management
• State of Vermont Treasurers Office
• DVHA Vendors
• DVHA Contractors
• DVHA Grantees