finance division august 8, 2008. father sorin’s bold vision for notre dame to be a source for good...
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Finance DivisionAugust 8, 2008
Father Sorin’s Bold Vision for Notre Dame
To Be A Source for Good in the World
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We Have a Bold Vision for Notre Dame:
To Be A Source for Good in the World
To be a preeminent research university with a distinctive Catholic character and an unsurpassed commitment to undergraduate education
1. Offer an unsurpassed undergraduate education
2. Become a preeminent research university
3. Ensure that the University’s Catholic character informs all endeavors
4. Create a sustainable culture of continuous improvement, innovation and overall service excellence to support the University’s mission
5. Communicate strategically to internal and external constituents
5 Major Goals
Will Help Us Achieve This Vision
1. Integrity
2. Leadership in Excellence
3. Leadership in Mission
4. Teamwork
5. Accountability
5 University Values
Will Guide How We Behave
University Goals & Values
Strategic Academic Planning Committee (SAPC)
Round 1 - $5M Recurring & $25M in One Time Funding Began October 2007 72 proposals submitted Evaluated based on:
Fit to mission Potential to enhance preeminence of University Ability to become self-sustaining Multi-disciplinary Capability of the team
5 proposals chosen for funding Fiscal 2009 Budget includes Round 2 Funding of $5M & $25M
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Advanced Diagnostics and Therapeutics
Paul Bohn leads team of 22 Electrical & Chemical Engineering Chemistry and Biochemistry Biological Sciences Computer Science
Application of nanotechnology to micro-sensing Study biological and chemical phenomena at atomic,
molecular, and cellular level Medical Applications
Drug delivery targeted at diseased cells, not healthy cellsDevices that will monitor effectiveness of treatments and adapt treatment if neededSmart devices that monitor environmental conditions (water quality in developing countries)
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Notre Dame Institute for Advanced Study
Mark Roche and Fr. Bob Sullivan Create a “think tank” program for cross disciplinary research
Up to 20 scholars and 5 graduate students Spend from 2 weeks to a full academic year in residence at ND
Particular focus on topics that emphasize our distinctly Catholic identity and mission
Engineers working on the environment teamed with social scientists Sociologist and theologian exploring the attitudes of youth toward religion
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Genomics, Disease Ecology and Global Health
Frank Collins and Jeff Schorey lead team of 22 researchers Biological Sciences Chemistry and Biochemistry Computer Science Indiana School of Medicine
Applications in genomics and bioinformatics Reduction in incidence of diseases (malaria and filariasis) Developing pesticides and disease treatments w/ reduced human side effects
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Notre Dame Integrated Imaging Facility
Infrastructure project to organize all imaging devices Includes instrumentation that allows researchers to visualize
chemical and biological processes To view same experiment at a number of size scales
Atomic Molecular Cellular
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The ND Nanoelectronics Research Initiative
Team of 38 led by Wolfgang Porod from: Colleges of Engineering and Science Reilly Center for Science Technology and Values Gigot Center for Entrepreneurial Studies Notre Dame’s Center for Nano Science and Technology (NDnano)
Discover and develop electronic replacement for the current semi-conductor
technology - Midwest Institute for Nanoelectronics Discovery (MIND)
Application of nano-scale science to energy generation solutions,
particularly those related to solar energy
Utilizing clean room capability of the new Stinson-Remick building to
investigate general biological and materials issues
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MIND Project
March 2008 announced the establishment of the Midwest Institute Academy for Nanoelectronics Discovery (MIND)
Notre Dame leads research consortium including: Purdue University, University of Illinois, Penn State, University of Michigan, Argonne National Laboratory, the National Institute of Standards and Technology, and the National Magnetic High Field Laboratory
MIND’s mission is to explore and develop advanced devices, circuits and nanosystems with performance capabilities beyond current devices (computers, cell phones, music devices, etc.)
Potentially the biggest impact to the local economy since the Studebaker Automotive Plant was built in South Bend
NEON Project
NEON (National Ecological Observatory Network)
ND’s UNDERC (Environment Research Center) - 8,000 Acres in Land O’Lakes
Wisconsin chosen as a NEON Site
Site provides research platform for discovering and understanding impacts of:
Climate change
Land-use change
Invasive species on ecology
Location is ideal for study as environment has little or no degradation from
humans, thus providing a baseline for comparisons
Observatory is expected to gather ecological data for the next 30 years
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New Leadership in the Academy
Robert J. Bernhard – Vice President for Research Previously associate vice president for research and professor of mechanical engineering at Purdue
University
Peter Kilpatrick – Dean of Engineering Previously chair of department of chemical and biomolecular engineering at North Carolina State
Gregory P. Crawford – Dean of Science Previously dean of engineering at Brown University
John T. McGreevy – Dean of Arts & Letters Previously department chair and professor of history at Notre Dame
Gregory E. Sterling – Dean of the Graduate School Previously executive associate dean of the college of Arts & Letters at Notre Dame
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Notre Dame Finance Division
As stewards, we will manage the University’s financial assets with integrity, innovation, accountability and leadership. These are our core values.
We will provide financial services and establish policies that further the mission of the University in perpetuity: producing leaders in the Catholic tradition. This is our core purpose.
We will become the standard of excellence by which other institutions judge their financial operations: propelling Notre Dame to success in its Quest for Leadership. This is our aspiration.
The foregoing Vision Statement describes the Finance Division’s approach to providing Services to the
students, faculty and staff of the University through our four main areas: the Controller’s Group, the
Office of Student Financial Services, the Office of Budget & Planning, and Treasury Services.
ND Finance: Today’s stewards for Tomorrow’s leaders
Goal 4: Culture of Continuous Improvement
Constituent Service
Operating Processes
Resource Stewardship
Employee Engagement
CORE
Recruit, develop, recognize, and reward talented administrators and staff at all levels
Anticipate, meet, and exceed the needs of users and constituents of support functions
Grow, protect and efficiently utilize the University’s resources and assets
Identify, evaluate, and improve the efficiency and effectiveness of our major administrative activities
Create a sustainable culture of continuous improvement and overall service excellence to support the university’s mission
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ND Finance – History of Setting Goals
Why Change?
“Even if you’re on the right track, you’ll get run over if you just sit there.”
Will Rogers
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Finance Division Timeline (1996 – 2000)
1996
Budget Office Created
2000
Met Full Financial Aid
Need of Students
1st Annual Report
Budget Committees Formed
Dedicated Tax Area Established
Cash Management Established
Creation of ND Undergraduate Loan/Citi-Bank
Finance Division Established
Office of Student Financial Services
Formed
Established Working Capital
Line of Credit
Pro-card & Direct Deposit Introduced
GLIQ Implementation
PwCAppointed
Enhanced Budget YTD Reporting
Began Financial Modeling of Centers
& Institutes
NegotiatedGraduate Loan
“NDL”
Redesigned Budget Book
Business Manager Meetings Organized
Started Tax Strategy Sessions
Implemented 1st Source Sweep
Accounts
Developed Detailed Projections and Began
Cash Forecasting
2000
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Finance Division Timeline (2001-2005)
2001 2005
University Budget
Reduction
Cashier’s Office Outsourced to
NDFCU
Budget Incentive Plan Implemented
Vice President of Finance and Chief Investment Officer
Positions Separated
Established Dedicated Capital Planning Area
Banner FinanceGo-Live
Banner StudentGo-Live
Integration of “Off-Budget” Items into
Budget
Endowment Spending Overhead Rate Implemented
50% Indirect Cost Rate Approved
AMS Payment Plan Partnership
Construction/Debt/ Derivative Policy
Redesigned Collection Process Including Student
Letters & Contracted Financial Recoveries
Peer Review
Created Preferential Packages for
Incoming Freshmen
Offered Aid to International students
Negotiated International Loan
NDIL
Inaugurated Acct. Fellows
Program
Created “BPAS” Bus. Process
Advisory ServicesEntered into First Swap Agreement
Formed Office of Treasury Services
Bond Issue Incorporated into
MBA Class
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Finance Division Timeline (2006-2009)
2006 2009
Sale of WNDU
Banner HR/PR Go Live
Integration of Procurement
Services
Redesigned Budget Process (Salary Planner)
Implemented CP Program
OSFS Reorganized
Institutional Compliance Committee Established
All Funds Report Direct Deposit of Student Refunds
Implemented Provost’s Strategic Financial Aid
Strategy
Lunch & Learn Kickoff
Enhanced Annual Report
Disclosures
Responded to Baucus-
Grassley Letter
Chair Portal
SAPC I & II
GLEZ
CRT/Donor Advised
Alumni Club Website
Division Committees
Remote Deposit Capture
PARTy Group (Planning, Analysis & Reporting)
Expand CP Program & Line
BWG Subgroups
IP@ND Corporate Structure
University Scorecard
Student Bills Available on SS Banner
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Fiscal 2008 - Goal Results
As of: 8/5/2008
1. Enhance Management Information/Decision Making Support 2. Compliance - Protect the University's Reputation
Target Actual Status Target Actual StatusController's Office 15 14 93% Controller's Office 13 11 85%Budget Office 9 8 89% Budget Office 0 0 n/aTreasury Services 1 0 0% Treasury Services 7 4 57%Student Fin. Service 5 5 100% Student Fin. Service 0 0 n/aFinance Division 30 27 90% Finance Division 20 15 75%
3. Create Value - To Support Undergraduate & Research Goals 4. Staff Training & Development
Target Actual Status Target Actual StatusController's Office 13 12 92% Controller's Office 8 8 100%Budget Office 9 9 100% Budget Office 8 8 100%Treasury Services 19 15 79% Treasury Services 8 8 100%Student Fin. Service 7 6 86% Student Fin. Service 8 8 99%Finance Division 49 43 88% Finance Division 32 32 100%
5. Live the Catholic Mission
Target Actual Status Finance Division - Total All GoalsFinance Division 16 16 100%
Target Actual StatusController's Office 49 45 92%
Complete (0% to 49%) Budget Office 26 25 96%Complete (50% to 74%) Treasury Services 35 27 77%Complete (75% to 100%) Student Fin. Service 20 19 95%
Finance Division 147 133 90%
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Finance Division
Today’s Stewards For Tomorrow’s Leaders
Create V
alue
Man
agem
ent
Decisio
n
Su
pp
ort
Co
mp
liance
Catholic Culture & Dedicated Staff
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Finance Division Goals – Code Key
University Goals: U = Undergraduate Program Goal R = Research Goal CC = Catholic Character Goal CI = Continuous Improvement Goal CO = Communication Goal
Finance Division Div = Finance Division CO = Controller’s Office BO = Budget Office TS = Treasury Services SFS = Office of Student Financial Services
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Finance Division Goals for Fiscal 2008
MANAGEMENT INFORMATION/DECISION MAKING SUPPORT Div CO BO TS SFS
Evaluate Administrative Research Support Model R 4 4 0 0 0
Develop & Implement Long-term Research Funding Model R 4 1 1 1 1
Core Service Projects – Finalize Time & Effort Reporting Solution R 4 4 0 0 0
Core Service Projects – Info Access (End User Info & Reports) CI 4 2 1 1 0
Revenue and Expense by College CI 4 0 4 0 0
Financial Aid: Implement Provost Strategic Financial Aid Policies U 4 0 0 0 4
Continue to Standardize Foreign Program Accounting CI 4 4 0 0 0
Banner 8.1 Planning and Implementation CI 4 2 1 1 0
Huron Strategic Sourcing Review and Implementation (Procurement) CI 4 4 0 0 0
Comprehensive Campus Training Program (Access, Systems, Rpt.) CI 4 4 0 0 0
Implement IDOC – Electronic Parent Data Collection for Financial Aid U/CI 4 0 0 0 4
University Account Service (UAS) Perkins/Dormer Loan Collection CI 4 0 0 0 4
Enhance Fall Campus Budget Info. Document (Greenbook) CO 4 0 4 0 0
Budget Working Group Template – Pre-populate for All Major Units CI 4 2 2 0 0
continued
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Finance Division Goals for Fiscal 2008
Develop Standards and Definitions of “All Funds”CI/CO 4 2 2 0 0
Blended Benefit Rate – Phase I (Review 2 years actual & allowable) CI 4 2 2 0 0
Support Implementation of Faculty Appointment Process CI 4 4 0 0 0
Implement Phase I of Updated Cash Mgt. Database Modeling System CI 4 0 0 4 0
Technology Committee Review/Approach to Finance Unit Websites CO 4 1 1 1 1
Update Capital Planning Model – Enhance to Target Interim Funding CI 4 0 0 4 0
80 36 18 12 14
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Finance Division Goals for Fiscal 2008
RISK & COMPLIANCE - PROTECT UNIVERSITY REPUTATION Div CO BO TS SFS
Finish Assessing Key Units & Identify High-Risk Remediation Strategies CI 4 4 0 0 0
Disaster Recovery & Business Continuity – Documentation/TestingCI/CO 4 2 0 2 0
Develop Policies & Procedure For Significant Accounting ActivitiesCI/CO 4 4 0 0 0
New Form 990 Implementation CI 4 4 0 0 0
FAS 117A and Other Financial Reporting Standards (FAS 157) CI 4 4 0 0 0
Formalize Debt Compliance Program CI 4 0 0 4 0
24 18 n/a 6 n/a
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Finance Division Goals for Fiscal 2008
CREATE VALUE - SUPPORT UNDERGRADUATE/RESEARCH GOALS Div CO BO TS SFS
Develop Budget with Final Year of SAPC Funding ($5M/$25M) U/R 4 0 4 0 0
Financial Asset Analysis U/R 4 0 2 2 0
Deferred Maintenance Assessment and Long Term Funding Strategy U/R 4 0 0 4 0
IP at ND – Organization Structure, Funding, Operational Set-up U/R 4 2 0 2 0
Automate Federal & Private Student Loan Processing CI 4 0 0 0 4
OSFS Website Redesign – Funding Required CO 4 0 0 0 4
Implement Automated Call Distribution System in OSFS – Funding Req. CI/CO 4 0 0 0 4
Alumni Club Website Enhancements CI/CO 4 0 0 0 4
Common Application – Assess and Staff Increased Processing U 4 0 0 0 4
Develop OSFS Graduate, Law & MBA Support Model CI/CO 4 0 0 0 4
Structure/Roll-Out Summer Housing Billing Program CI 4 0 4 0 0
Support Implementation of Wholehealth Initiative CI 4 2 0 2 0
Evaluate and Implement Enhanced Cash Management Strategies CI 4 2 0 2 0
52 6 12 10 24
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Finance Division Goals for Fiscal 2008
STAFF TRAINING & DEVELOPMENT Div CO BO TS SFS
100% Performance Reviews CI 4 1 1 1 1
Division Lunch & Learn Opportunities – All Staff at Least One CI 4 1 1 1 1
All Division FT Staff – One Relevant Training Opportunity CI 4 1 1 1 1
Mgt. Retreats - Controller, Budget, OSFS, Treasury, (One per yr.) CI 4 1 1 1 1
Maintain Professional Certifications - CPA's, etc. CI 3 1 1 1 0
Staff Presenting at Conferences, External Publications, Benchmarking… CI/CO 4 1 1 1 1
23 6 6 6 5
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Finance Division Goals for Fiscal 2008
LIVE CATHOLIC MISSION Div
Spiritual Formation - Division Mass & SMT Masses CC 4
Foster Team/Family Culture CC 4
Community Service Activities CC 4
Non-Exempt Lunches CC 4
Exempt Activity CC 4
Recognition Activities CC 4
Practice Principles of Catholic Solidarity in Daily Operations CC n/a
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Fiscal 2009 - Goal Results
Fiscal 2009 - Goal ScorecardAs of: 8/4/2008
1. Enhance Management Information/Decision Making Support 2. Compliance - Protect the University's Reputation
Target Actual Status Target Actual StatusController's Office 36 0 0% Controller's Office 18 0 0%Budget Office 18 0 0% Budget Office 0 0 n/aTreasury Services 10 0 0% Treasury Services 6 0 0%Student Fin. Service 16 0 0% Student Fin. Service 0 0 n/aFinance Division 80 0 0% Finance Division 24 0 0%
3. Create Value - To Support Undergraduate & Research Goals 4. Staff Training & Development
Target Actual Status Target Actual StatusController's Office 6 0 0% Controller's Office 6 0 0%Budget Office 12 0 0% Budget Office 6 0 0%Treasury Services 10 0 0% Treasury Services 6 0 0%Student Fin. Service 24 0 0% Student Fin. Service 5 0 0%Finance Division 52 0 0% Finance Division 23 0 0%
5. Live the Catholic Mission
Target Actual Status Finance Division - Total All GoalsFinance Division 24 0 0%
Target Actual StatusController's Office 66 0 0%
Complete (0% to 49%) Budget Office 36 0 0%Complete (50% to 74%) Treasury Services 32 0 0%Complete (75% to 100%) Student Fin. Service 45 0 0%
Finance Division 203 0 0%
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Father John’s Audacious Goal
To be one of the best universities in the world while remaining true to the Catholic tradition.
If we succeed we will:
•Develop a new model for higher education in the
21st century based in a moral and spiritual
framework
•Influence both secular and religious institutions
•Impact the Church and the world
Father Sorin’s Bold Vision for Notre Dame
To Be A Source for Good in the World
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