The (Library) Materials Finance Team (MFT) is a cross-directorate group whose charge is to monitor financials in Aleph/Barton and SAP, MIT's financial system, to assure that expenditures for the information resources budget are on target.
The Team monitors and plans relevant financial processes including: audit compliance, fund encumbrance targets, payment tracking, vendor prepayments, orderly flow of expenditures throughout the year, and end-of-year closing. The Team normally meets three or four times a year augmented by more frequent email communications. There are no immediate plans for a wiki or minutes.
The new Materials Finance Team was officially launched in February 2011. It is a reformulation and streamlining of a long-standing group called the Materials Budget Council (MBC).