Senior Vice President and Chief Financial Office MaryFrances McCourt was presented with the President’s Medal for Excellence in recognition of her service to IU in the area of financial leadership.
President Michael McRobbie presented the medal to McCourt in a ceremony March 10, according to an IU press release.
About 170 guests attended the ceremony, which also included remarks by Provost and Executive Vice President Lauren Robel.
The medal, a silver reproduction of the jewel of office worn by IU’s president at ceremonies, is the highest honor an IU president can bestow.
“MaryFrances has been a consistent champion for student affordability, fiscal restraint and operational efficiency,” McRobbie said in the release. “The fruits of her labor can be clearly seen in the University’s strong financial position and our standing as one of the best educational values in the country.”
The award recognizes McCourt’s work during her time at IU before she officially leaves March 21 to assume duties as the .
In 2005, McCourt joined IU as University treasurer. She also served as a vice president and chief financial officer since January 2013, and was then named senior vice president and chief financial officer in April 2014.
Named , McCourt created a range of initiatives to improve the University’s financial investments, performance and planning.
During the financial crisis of 2008, McCourt played an essential role in keeping IU’s financial status steady, which resulted in IU earning and retaining its AAA credit rating from Moody’s Investors Service.
McCourt’s duties at IU also included oversight for the IU Office of Student Financial Literacy, where her leadership played a pivotal role in a 16-percent decline in student borrowing over the past three years, resulting in approximately $82.5 million in debt reduction, according to the release.
Additionally, McCourt is responsible for IU saving $214 million over a period of four years through volume buying and applying procurement best practices.
She is also one of the creators of the University’s Healthy IU employee wellness initiative and has continued to advocate for the program.
“She has been a superb colleague in every way, and we will miss her deep understanding of higher education finance and passion for students, fellow employees and Indiana University,” McRobbie said in the release. “We are greatly indebted to her for her outstanding service to the University.”
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