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Wayne Jones--who has worn numerous accountant shades in his 26 years on
campus, including treasurer, associate vice chancellor for finance, and vice
chancellor for business and finance--will retire June 30.
The Board of Trustees recognized him May 28 during its meeting by passing a
resolution commending his work.
Jones leaves a legacy of sound fiscal management and a reputation for
thoughtful, humble, caring and honest leadership, according to colleagues.
Among his many accomplishments have been increasing the University's investment
fund from $25 million to $730 million, overseeing the computerization of the
University's financial records and creating Carolina's Quality Improvement
Office.
"He always takes the long view on the University's finances because he wants
to make sure the endowments are paying out at least the same inflation-adjusted
amounts 100 years from now as they do today," said Jean Vickery, associate vice
chancellor for advancement services. "He's very serious about protecting the
University's assets for the future."
Jones also is credited with efforts that might be called "flexible
financing"--finding creative, legal and ethical ways to save dollars, cut red
tape and make the wheels of bureaucracy turn a little quicker.
Jones played a role in crafting state legislation that gave the UNC system
greater budget flexibility. And he worked with UNC General Administration in
building the case for increased purchasing and construction limits, allowing
the system's schools to purchase more goods locally and construct facilities
without going through state offices.
Carolyn Elfland, associate vice chancellor for auxiliary services, met Jones
17 years ago when she joined the University's then financially troubled housing
department. She recalls how Jones went out of his way to help her understand
the department's problems and seek viable solutions.
"Wayne is incredibly helpful--just always willing to share his knowledge and
wisdom," she said. "He's a good, decent person."
Jones' smart money management is renowned on and off campus, Elfland said. "He
enjoys a reputation for being extremely honest and showing excellent judgment
about what the University can and cannot afford to do," she said. "He really
commands respect from underwriters because they know he's done his homework,
and that makes a difference in the rating we get. And it's saved the University
a lot of money because the bond rating is directly related to the interest rate
we pay."
For two years running, the University's business and finance division has been
awarded the prestigious Certificate of Achievement for Excellence in Financial
Reporting by the Government Finance Officers Association, a nonprofit
association of 12,625 government finance professionals. Only a handful of
colleges and universities in the U.S. have earned the honor.
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