Indiana State University Newsroom

VP McKee recognized in Chief Financial Officer of the Year program

December 5, 2014

Indiana State University's Diann McKee has been recognized as one of central Indiana's top financial executives.

The Indianapolis Business Journal today honored McKee, Indiana State's vice president for business affairs and finance and university treasurer, in its seventh annual Chief Financial Officer of the Year program. McKee was honored in the not-for-profit/government category for organizations with more than $100 million in annual revenue.

"If the CEO is a captain of industry, then the chief financial officer is the navigator, with one eye on the charts, another on the stars, and both hands on the steering column," the newspaper said. "We recognize these first officers who plot the safest financial course and allow their firms to make waves."

A graduate of Indiana State's Scott College of Business, McKee has served the university as a staff member for 27 years, the last six as chief financial officer. Her responsibilities go beyond finances, as facilities maintenance, human resources and university police all report to her.

"I am pleased that the Indianapolis Business Journal has validated what I have known for many years - Diann McKee is one of the best CFOs, if not the best, in our state," said Dan Bradley, Indiana State's president. "She handles a huge portfolio of responsibility and is constantly striving to ensure that our resources are used in the most efficient and best manner possible."

A recent bond rating report the university received from FitchRatings also lauds the financial management of the university. "ISU's seasoned management team has demonstrated prudent financial planning and conservative budgeting practices in response to the recent funding environment. These decisions have resulted in consistently positive operations for the university and an increase in balance sheet resources," the report indicated.

"We strive to maintain affordability," McKee told the Business Journal. "Many [students] are first-generation. Many come from lower-income families. The amount of state support that the university received for operating purposes has declined. It means you have to be more creative."

McKee has found ways to keep Indiana State's budget in check. She developed a tiered investment policy to address risk and liquidity needs, created a trust to fund retiree health coverage, expanded opportunities for minority-owned companies to do business with the university and developed a car-share program to help students.

During her tenure, the university has used long-term hedge contracts to control fuel costs and replaced a coal-burning steam plant with one fired by natural gas. McKee also launched a program to store construction documents in the cloud, eliminating the expensive task of duplicating documents for contractors. In addition, she expanded a campus recycling program into a statewide model, diverting 50 million pounds of waste from landfills.

McKee said credit for the accomplishments goes to the many dedicated staff members who serve with her.

"We have a great team in Business Affairs who care and work very diligently on behalf of the university," she said.

McKee said being an Indiana State alumna has helped her be more effective.

"It gives you a deeper appreciation for the institution," she said. As a longtime Terre Haute resident, the Brazil, Ind., native is proud of the impact the university has had on the community.

"Indiana State has played a large role in the transformation of Terre Haute," she said. "It's a much different place than it was 10 or 15 years ago, and I'm excited to be a part of that."

The Business Journal noted that McKee grew up in a family that, because of her father's disability, relied on her mother as sole support.

"My mother didn't have the advantage of a college education," McKee said, "and she really instilled in me its importance. Indiana State University transforms lives. It certainly transformed mine."

In addition to McKee, the Indianapolis Business Journal also recognized Robert Coons, senior vice president and chief administrative officer at Rose-Hulman Institute of Technology, and Mary Frances McCourt, chief financial officer at Indiana University and this year's top honoree in the category.


Media contact: Dave Taylor, media relations director, Office of Communications and Marketing, Indiana State University, 812-237-3743 or