ITHACA , N.Y.— A man who has served in financial management and operations roles at Princeton University has accepted a new job at Ithaca College. The school has named Tim Downs as VP for finance and administration and chief financial officer (VPFA-CFO). Downs will begin his duties in Ithaca Aug. 2 after having worked at […]
ITHACA , N.Y.— A man who has served in financial management and operations roles at Princeton University has accepted a new job at Ithaca College.
The school has named Tim Downs as VP for finance and administration and chief financial officer (VPFA-CFO).
Downs will begin his duties in Ithaca Aug. 2 after having worked at Princeton for the past 14 years, per an Ithaca College news release.
Downs will serve as an “essential strategic partner” to Ithaca College President Shirley Collado, working with her, the board of trustees, senior-leadership team, faculty, staff, and student leaders. He will provide leadership and managerial oversight for 300 employees in the areas of business and finance, facilities, and auxiliary services, and have primary responsibility for the development and implementation of the college’s annual operating budget that will allow for financial alignment with the “Ithaca Forever” strategic plan, the school said.
“The role of VPFA-CFO is one that requires expertise, creativity, collaboration, and a willingness to think innovatively as the college seeks to both stabilize in the short term and launch boldly and realistically into a sustainable future,” Collado said. “Tim brings an infectious energy and inventive spirit to his work, and a full understanding of what it takes to successfully tackle so many of the complexities facing the academy now and in the years ahead. He is the right partner for us as we activate our immediate and forward-facing goals and realize the promise of our strategic plan.”
Downs at Princeton
Downs joined Princeton in 2007 as manager of the school’s Facilities Finance and Business Office and was promoted to his current position in 2012.
In that role, he has been responsible for leading a 37-member department providing budget, finance, business operations, procurement, information technology, and customer-service support.
He manages all financial aspects of a $125 million operating budget, $50 million major maintenance budget, and multi-billion-dollar capital-projects budget, Ithaca College said.
Among his other accomplishments at Princeton, Downs developed the university’s $5.5 billion capital plan, overhauling an $80 million construction surcharge program to close a $14 million deficit; reviewed and strengthened the stewardship program for the university’s $7 billion physical plant; managed key municipal relationships leading to a revaluation of the university’s property tax payment; and partnered with developers and financers on major sustainability projects.
“During my time at Princeton, I have had the privilege to lead or share in some of the greatest events impacting the university,” said Downs. “These include managing through two major economic downturns; modernizing the university’s 50-year-old financial/reporting/purchasing system; advising through the transition of a new President, Provost, Executive VP, and VP for Facilities; and launching significant sustainability initiatives.”
In the private sector, Downs served as a group controller for Aramark Uniform Services. He also served in a series of financial-management positions within strategic business units at J.P. Morgan Chase & Co. He entered the education field as director of finance and then president of the Sanford Brown Institute, one of 82 campuses under the Career Education Corporation umbrella, Ithaca College said.
Downs earned his undergraduate degree in accounting from Temple University and MBA degree with a concentration in finance from the University of Delaware.