Agenda Wednesday, August 13, 2014 10:00-Noon Chancellor’s Conference Room Introductions...
-
Upload
godfrey-oconnor -
Category
Documents
-
view
226 -
download
4
Transcript of Agenda Wednesday, August 13, 2014 10:00-Noon Chancellor’s Conference Room Introductions...
AgendaWednesday, August 13, 2014
10:00-Noon Chancellor’s Conference Room• Introductions• Guidelines/Policy for Revenue Generating Activities at UMass Boston
• ESS Survey Results• Working Guidelines for FY15
• Budget and Financial Planning Update• Procard Reallocation July 1st
• Records Management Update• Transportation and Construction Update—ISC Move
Safety Planning• Continuity Planning—final • Evacuation Policy—final • Emergency Notification System—final • Inclement Weather and Emergency Campus Closure—draft
Next F&A Meeting will be onTuesday, September 23, 10:00-noon
Location – CC Room 3540
Finance and Administration Advisory Meeting
ESS Survey Results
Guidelines/Policy for Revenue Generating Activities at UMass Boston
• January, 2014– Issued Educational Sales and Service(ESS)
survey
– Why? A standard higher education revenue classification ESS defined externally
UMass Boston ESS revenue significantly
higher than other UMass Campuses
Guidelines/Policy for Revenue Generating Activities at UMass Boston
Educational Sales and Service Revenue is:
A standard higher education revenue classification
It includes:•Revenues that are related incidentally to the conduct of instruction,
research and public service, and
•Revenues of activities that exist to provide instructional and
laboratory experience and that incidentally create goods
and services…..
Guidelines/Policy for Revenue Generating Activities at UMass Boston
ESS defined externally•(NACUBO: Financial Accounting and Reporting Manual – FARM)
•Consistent definition across institutions nationally
•Consistent financial statement reporting on Statement of Revenues,
Expense, and Changes in Net Assets (SRECNA)
•Consistent data reported in IPEDS
•Consistent reporting in other surveys and reports
Guidelines/Policy for Revenue Generating Activities at UMass
BostonSurvey Results
25 Surveys
24 Returned
Excellent Response
Thank You
Guidelines/Policy for Revenue Generating Activities at UMass
BostonSurvey reported revenues in the following areas:•Conference/Programs/Courses $594k•Grants and Contracts 281k•Charitable Donations/Gifts 211k•CAPS Revenue Sharing 1,866k•Rental Income 568k•Reimbursement of Expenses 24k•Book Sales 4k•Ticket Sales 11k•Other 901k
$4,460k
Guidelines/Policy for Revenue Generating Activities at UMass
BostonESS Survey
•72 Activities Involved
•Followed up with many departments for
clarification
Guidelines/Policy for Revenue Generating Activities at UMass Boston
ESS Survey
Validated activity consistent
with a major urban research university
Validated much of the activity is consistent
with NACUBO guidance.
Guidelines/Policy for Revenue Generating Activities at UMass
BostonESS Survey
Identified a few opportunities to better
align revenue and expense for
financial reporting purposes.
ESS Survey Results
RESULT
Guidelines/Policy for Revenue Generating
Activities at UMass BostonWORKING DRAFT FOR FY’15
Will be following up with departments to discuss
these revenues to more efficiently integrate
them into financial reporting and management
practices.
Guidelines/Policy for Revenue Generating Activities at UMass Boston
Review Guidelines1.Tuition and Fees
2.Conferences/Workshops*
3.Charitable Donations
4.Ticket Sales*
5.Miscellaneous Revenue*—non-UMass Boston students
6.Sales of Books, etc.*
7.Recurring Space Rental
8.Grant and Contract Agreements
9.Compensation to UMass Boston Employees
Guidelines/Policy for Revenue Generating Activities at UMass Boston
Questions
Budget & Planning Update
Aug 2014
Office of Budget & Financial Planning
o here and now (FY15)
o the future (FY16 -18)
“We are all interested in the future, for that is where you and I are going to spend
the rest of our lives...”
here and now
• 100% state support (not including collective bargaining)
• 100% funding for full-time, benefitted employees (state, retained tuition, GOF)
• 100% lab & differential fee (based on revenue)
• 100% ESS, gift, and development accts
• 50% base operating (non-personnel)
here and now
• VCs continue to meeto requests for new fundingo base reductions to meet target
o recommendations to Chancellor mid-Sept
here and now
FY15 RequestBase Budget Amount
Academic Affairs 159,253,173 3,985,765 Admin & Finance 37,539,255 1,497,208 Enrollment Mgmt 9,199,687 369,543 Student Affairs 12,109,643 1,002,330 GRPA 3,349,444 1,186,700 Athletics 5,132,551 597,000 University Advancement 4,286,891 425,959 Chancellors Office 3,131,467 -
Total all 234,002,111 9,064,505
here and now
the future
($ in millions) FY14 FY15 FY16 FY17 FY18
Revenue $346.1 $373.6 $397.0 $420.4 $440.7
Growth - $27.6 $23.4 $23.3 $20.3
the future
($ in millions) FY14 FY15 FY16 FY17 FY18
Expense $352.6 $381.6 $407.0 $433.9 $451.3
Growth - $29.0 $25.4 $26.9 $17.4
the future
($ in millions) FY14 FY15 FY16 FY17 FY18
Gap -$6.5 -$8.0 -$9.9 -$13.5 -$10.6
Target -$6.5 -$7.0 -$5.8 -$ 3.0 $ 0.2
how do we get there
- UMass Boston will have a balanced budget by FY18
- System Office requires an operational plan, including measurable outcomes and benchmarks to monitor performance
- Annual approved budget will reflect all funds and resources
- Spending within executive areas cannot exceed annual budget authorization
how do we get there
- Current budget for full-time benefitted positions presumes turnover and vacancy savings
- Priority use of reserves is- fund the operating deficit- complete the capital master plan (ISC, GAB1, GAB2, UCRR)
- Subsidies for the research enterprise remain at or below current levels
- Reallocate existing resources to fund high priority staffing and services
Use of reserves (cumulative)
FY14 FY15 FY16 FY17 FY18
Bldgs $0 $5.6 $18.6 $21.0 $21.0
Deficit $6.5 $13.5 $19.3 $22.3 $22.1
Unrestricted net assets (FY13) $91.1 million
Current year expense
Current yr revenue $373.6 million
+
Prior yr reserves 7.0 million
=
Current yr expense $380.6 million
Trends in Higher EducationGovernance
o federal regulationso Board member due diligenceo focus on metrics (like student outcomes)
Long-term viabilityRevenue
• Federal, state grants and contracts• state funding (and allocation of UMass pool)• fund raising
Expense• net revenue• moderate cost increases (perception of cost vs benefit)
Demographicso enrollment (decline of traditional-aged students)
Technologyo teaching and learning paradigmo internal processes and productivity
Next steps
Reframe the conversations
Craft your solutions to support
the new UMass Boston
PROCARD REALLOCATION UPDATE
Updated August 2014
Reallocation Effective July 1, 2014 Procard transactions should not post to PS
account code 736699 (Procard)
Cardholder or their designee should allocate Procard transactions to
appropriate PS Account Code
Procard can Default to: Any PS account code, as applicable.
ReallocationProcedure
Weekly PeopleSoft review of Reconcile Statement Page
Approve and/or Reallocate transactions in PeopleSoft
– Reallocate just the Account Code, the Fund, or both account
code & fund
– Not reallocating? Just click “Approve”
If Procedure not followed-
Department Head may cancel card if charges posting to 736699
Reallocation
FY15 Procard Transactions- as of August 10, 2014
1591 total transactions
71 not reallocated (posted to 736699) 4.46%
923 allocated to a different account code (not 736699)
58.01%
597 – still available to reallocate 37.52%
Remember to reallocate weekly
Procard Refresher/ Reallocation Workshops
Aug 201-4 pm Full
Sept 19 1-4 pm
Oct 23 1-4 pm
Nov 13 9-12 noon
Reallocation
Records Retention and Disposition UpdateDate: August13, 2014
Contracts and Compliance
Accomplishments
•Team of four temporary staff hired to assist faculty moving to ISC
•Record Retention Schedules customized to meet UMass Boston’s needs
•Retention Schedule database created and on final stages
•High capacity shredder acquired
ISC Faculty Move
• 29 Biology Faculty – 7 Provided with consultation– 2 Received Assistance
• 13 Chemistry Faculty– 3 Provided with consultation and received assistance
• 12 Physics Faculty– 5 Provided with consultation– 3 Received assistance
• 17 Psychology Faculty– 7 Provided with consultation– Only 2 needing assistance
• 15 SFE Faculty– 5 Provided with consultation– 2 Received Assistance
• Academic Affairs reaching out to Faculty who might need assistance
Commonly Found Records in Faculty Office
Document: Owner: Retention Period: Retention Schedule Begins:
Financial Records:All payments & supporting materials Grant budgets & financial reports
Controller’s Office ORSP
12 years 7 years
After payment After last payment
Procard RecordsTravel Card Records
DepartmentDepartment
12 years12 years
After paymentAfter payment
Purchase orders
Procurement 7 years After payment
Grant Proposals: FundedNon-funded
ORSPORSP
7 years3 years
After last paymentAfter decision to not fund
Research Records:Grant-funded Non-grant
Department PIFaculty
7 yearsAfter administrative use ceases
After final report
Employee RecordsRecruitment Files
HRDepartment
Permanent3 years
After admin. use ceasesAfter admin. use ceases
Student Grades Registrar Permanent After administrative use ceases
Student Exams Faculty 1 year After semester ends
Student Papers Faculty
Student Disability Records Office of Diversity and Inclusion 6 years After separation
Committee and Task Force Records and Minutes Department/Dean/Provost Committee establishment and primary copy of minutes: Permanent Committee members’ records: Until administrative use ceases
After administrative use ceases
Faculty Council Records & Minutes Provost Permanent After administrative use ceases
Legal Counsel Records Stored on Campus
• During down time the records retention team
processed 227 General Counsel’s boxes
• 94 boxes older than 20 years dating back to 1994
• 99 UMass Medical boxes
• Inventory of records currently stored in loading dock area
• Identify departments owning those records
• Contact Departments for records retrieval and disposition
• Roll-out Records Retention Program in accordance with BOT Policy, Records Management Guidelines and UMass Boston Record Retention Policies and Procedures
Next Step
Questions?
Transportation and Construction Update — ISC Move
Construction and Transportation Update
– ISC Moves – HarborWalk Shore Line Stabilization Underway
Bypass Walkway in Place
– GAB No. 1 Connector Pile Driving next week
– UCRR this Fall Two-way Traffic Parking Implications
– Fall Semester Transportation Challenges Allow Extra Time Public Transit or Bayside Lot
www.umb.edu - Construction Update
Safety Planning
Update on:
Emergency Management Policies
Business Continuity Planning Policy New!
Evacuation Policy UMass Boston Alert System Policy Inclement Weather and Emergency Campus Closure Policy – DRAFT
Business Continuity Planning Policy Training Sessions Available in the Fall:
Department Preparedness I:
Introduction to Continuity
Planning and Personal Emergency
Preparedness
Department Preparedness II:
Using UMass Boston Ready for
Department Continuity Planning.
Visit Training Portal to sign up.
Evacuation Policy
What’s New?
• Wording from new EHS Evacuation Plans– Clarified roles and responsibilities
• Clarification: Building Campus-wide Closing/Early Release
Every campus-wide evacuation is a campus closure. Every campus closure is not a campus-wide evacuation
UMass Boston Alert System Policy What’s New?
UMass Boston Smartphone
App now to include alerts TV monitors to have more
prominent display Expanded role for Office of
Communications, who may
send initial alert for non-
urgent utility-related closures.
Inclement Weather and Emergency Campus Closure Policy • What’s new:
More clarity regarding campus closure status,
including who may be on campus when it is
closed. Everyone must leave except those
who are required to remain as part of
response and recovery efforts. Commitment to produce After Action Reports
for major storms and emergencies within 30
days. More clarification on announcements and
what they mean for UMass Boston Operations
University Closed / Classes Canceled
• All harbor campus classes and events canceled for the day
and evening.
• All offices and the Healey Library closed.
• Essential and assigned snow day personnel to report at
scheduled time.
• Normal campus operations will resume at 12:00am-
midnight unless otherwise indicated.
Delayed Opening / Late Opening / Early Morning Classes and Morning Events Canceled
• Always use sound personal judgment when determining your
commute to campus.
• Staff will report at 10:00 a.m.
• Essential and snow day personnel to report at scheduled time.
• All harbor campus morning classes and events are canceled.
• Harbor campus will open for classes and events at 11:00 a.m.
Evening Classes Canceled/Early Dismissal
• All harbor campus classes and events beginning at or after
4:00 p.m. or in progress at 4:00 p.m. are canceled
• Essential and snow day personnel will work their
scheduled hours and all others must leave by 4:00 p.m.
unless otherwise notified.
• Normal campus operations will resume at
12:00am/midnight unless otherwise indicated.
• Parking lots operate as usual.
Questions?