Financial Administration
Division Meeting
June 14, 2012
Remarks
FY12 in review
• Looking ahead
• Q&A
Financial Administration Division
Grand Opening: Fenwick Place
• August 2011
• >500 student residents
• Central dining
• Retail dining
• One stop student services
• Mission and Identity
Fenwick Place enhanced programs
and the physical campus.
Financial Administration Division
Grand Opening:
James E. Hoff S.J., Dining Commons
• Opened in August 2011
• Served over 750,000 meals
• Faculty and staff also dine
here
Hoff Dining Commons serves the
students, faculty and staff.
Auxiliary Services
New Retail Eateries:
Currito Burrito and Andy’s Mediterranean
• Featuring Mexican, Middle
Eastern, Asian and American
cuisines
• Appealed to a variety of taste
palates
Variety of cuisines appealing
to different taste palates.
Physical Plant
Maintenance Performance
General Repair/Impression
Performance
Xavier University
4.3
Peers (avg.)
3.9
Database (avg.)
3.9
Outperforming peer institutions.
Physical Plant
Custodial Performance
Cleanliness Performance
Xavier University
4.6
Peers (avg.)
4.2
Database (avg.)
4.2
With fewer custodians, scored higher than peers.
Physical Plant
Grounds Performance
Grounds Performance
Xavier University
4.6
Peers (avg.)
4.1
Database (avg.)
4.0
Higher level of investment results in
comparable scores to Sightlines best.
Physical Plant
Customer Satisfaction
All scores met or exceeded expectations.
Physical Plant
2012 – 2013 Renewal and Replacement Projects
1.
2.
3.
4.
5.
6.
Cintas Center: Exterior
waterproofing, Conference
Level R&R
Gallagher Center:
Furniture, Exterior Doors,
Finishes
Hinkle Hall: Interior
Finishes, Exterior
Waterproofing
Hailstones: Water damage
repair
Joseph and Elet Lots:
Asphalt Paving
South Lot: Asphalt Paving
7.
8.
9.
10.
11.
12.
13.
O’Connor Sports Center
Lot: Asphalt Paving
University Drive: Sealing
and Striping
1425 Dana: Water
infiltration
Schmidt Hall: Third Floor
Renovation
McDonald Library: Window
Caulking
Corcoran Field: Artificial
Turf Replacement
Wayfinding
Physical Plant
Audit and Risk Management
Total Crimes on Campus
2005 - 2011
FY11 and FY10 had lowest crime rates
despite 12% resident student increase.
Audit and Risk Management
Part 1 Crime Comparison 2010
35
30
25
Homicide
Aggravated Assault
20
Robbery
Burglary
15
Forcible Sex Offenses
Non-forcible Sex
Offenses
10
5
•
0
Miami U 2010
16,359
MSJ 2010
2,259
NKU 2010
15,297
UC 2010
41,357
UD 2010
11,199
XU 2010 7,019
UC Reported
92 Burglary
Cases in 2010
Campus crime remains relatively low in
comparison to other local schools.
Audit and Risk Management
Recovery of Fake ID’s
• 40 students including
freshmen and sophomores
• Underage alcohol consumption
• Lessons learned
Successful investigation
Improves student safety.
Audit and Risk Management
New Assistance Phones Added
• Safety Team 1 implementation
• Direct connection to
dispatcher
• Speaker capability
36 new or replacement
assistance phones installed.
Audit and Risk Management
Full Building Evacuation Drill
• EHS, XUPD, Res Life, Plant
• 11 fire safety programs
• 1,173 students
• 70% freshmen participation
• Others via online training
and student paper
Significant fire safety programs
for student residents.
Audit and Risk Management
Training for Residence Assistants
• 66 RA’s, August 2011
• Hands-on fire extinguisher
training
• Second year
Rated most valuable part of
RA training by students.
Auxiliary Services
Electronic Card Access Control
on Exterior Doors
• Safety Team 1 implementation
• Greater security/accountability
• Reduces man hours spent
unlocking/locking doors
• Facilitates remote lockdown in
event of emergency
Improved safety through access control.
Audit and Risk Management
Dispatch Desk Coverage
• 24/7 coverage
• Dispatcher team supplemented
• Improved work environment
• Cost neutral
Work force changes improve
environment and coverage.
Auxiliary Services
State of the Art Multi-function
Devices Campus Wide
• Fully networked fleet of 76
devices
• Expanded color services
• Enhances departmental
productivity
Multi-function devices improve services and
reduce overall expenses.
Controller
Electronic Conflict of Interest Reporting
BEFORE
AFTER
• On-line questionnaire
• 50% time savings
• 100% return rate
• BOT and employees in
compliance
New online approach saved resources
and added convenience.
Controller
Payroll Card/Elimination of Paper Checks
• Stopped issuing paper
checks
• Payroll card or direct
deposit options
• Time savings
• Cost savings $.50 per check
Now Payroll business practices
save resources.
Controller
Direct Deposit of Bursar Refunds
• Direct deposit offered for
student refunds
• >50% of students opted-in
• Saves printing 1,500
checks/term
• Bursar and A/P initiative
Electronic refunds increased student
services and decreased XU costs.
Controller
My eRefund
BEFORE
NOW
Treasury
Enhanced User Information
• Budget entries in
Banner
• Better financial
management
• Streamlined
communication
Needed information now online.
Purchasing
XavierBuy Implementation
• Increase of XavierBuy
• FY12 change: 30% → 80%
• University wide effort
Purchasing users across campus moving
to electronic purchase orders.
Purchasing
XavierBuy Implementation
Finance Team
Credit Rating
Credit RATING maintained; OUTLOOK upgraded
A– Stable
A3 Stable
A- Stable
A Category Credit Rating since 2008
Financial Planning & Budgeting
FY11 Surplus - $2 Million (<1%)
• 13 month period
• Reserves
• Safety improvements
• Special opportunities fund
Campus stretched the budget
for an extra month.
Financial Planning & Budgeting
FY12 Mid-Year Budget Reductions
• Implemented mid-year
expense reductions
• WHY? Missed grad enrollment
targets
• Significant revenue impact
Implemented difficult decisions to
maintain financial strength.
Financial Planning & Budgeting
UPRC – Budget Development
• Year 2 of UPRC
• Balanced budget recommended to
BOT for FY13
• Numerous process improvements
 Redesigned forms
 On line review process
 More robust analysis
• Much more to be done
Developing the FY13 budget was
smoother and better informed.
Financial Planning & Budgeting
Tuition Pricing and Affordability Study
• Evaluated FT undergraduate
tuition and financial aid
• External consultant assisted
• Concluded that we could
increase tuition by 3-5%
• UPRC recommended limiting our
tuition increase to only 3%
Study informed tuition pricing for FY13.
Finance Team
Comprehensive Financial Model
• Five-year proforma
• Operating budget, balance
sheet, income statement,
ratios, sensitivity analysis
• Shared with BOT Finance
Committee and UPRC
• Informed planning
Five-year comprehensive financial model
created to inform plans and decisions.
Finance Team
Fiscal Year Change
• Completed two closings and
two financial statement
audits
• Other audits and reports
also multiplied (NCAA, A133,
tax)
• No proposed revisions or
changes from external
auditor
• Team effort
Changed fiscal year end to
June 30 – higher ed norm.
Controller
Internal Control Improvements
• Zero MLC’s in FY11
• >20 MLC’s in FY08
• Division and University
effort
Great progress and results
in internal controls.
Treasury
Debt Structure Enhanced
• Added 2nd bank for LOC’s
• Changed remarketing agents
• Improved diversification and
aligned interests
• Reduced fees
Restructured LOC’s and remarketing
to reduce risk and save fees.
Treasury
Investment Policies Developed
• Endowment
• Working capital
• Reserves
• Charitable gift annuities
Policies now in place for endowed
and non endowed investments.
Treasury
Endowment Management
23
21
19
Total Institutions
17
$101-$500 Million
15
$51-$100 Million
13
Xavier
11
9
7
5
Average FY10 Total Return
Average FY11 Total Return
Favorable FY10 and FY11
investment returns vs peers.
Finance Team
Credit Rating
Credit RATING maintained; OUTLOOK upgraded
A– Stable
A3 Stable
A- Stable
A Category Credit Rating since 2008
Remarks
FY12 in review
Looking ahead
• Q&A
Remarks
FY12 in review
Looking ahead
Q&A