Download - Agenda Wednesday, August 13, 2014 10:00-Noon Chancellor’s Conference Room Introductions Guidelines/Policy for Revenue Generating Activities at UMass Boston

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


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…..


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


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


BostonESS Survey

•72 Activities Involved

•Followed up with many departments for

clarification


ESS Survey

Validated activity consistent

with a major urban research university

Validated much of the activity is consistent

with NACUBO guidance.


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.


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


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


Expense $352.6 $381.6 $407.0 $433.9 $451.3

Growth - $29.0 $25.4 $26.9 $17.4

the future


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

http://www.umb.edu/

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?

Download - Agenda Wednesday, August 13, 2014 10:00-Noon Chancellor’s Conference Room Introductions Guidelines/Policy for Revenue Generating Activities at UMass Boston

Top Related