Finance and Administration Advisory Meeting
Agenda
Wednesday, 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 on
Tuesday, September 23, 10:00-noon
Location – CC Room 3540
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 Boston
Survey Results
25 Surveys
24 Returned
Excellent Response
Thank You
Guidelines/Policy for Revenue
Generating Activities at UMass Boston
Survey reported revenues in the following areas:
•
•
•
•
•
•
•
•
•
Conference/Programs/Courses
Grants and Contracts
Charitable Donations/Gifts
CAPS Revenue Sharing
Rental Income
Reimbursement of Expenses
Book Sales
Ticket Sales
Other
$594k
281k
211k
1,866k
568k
24k
4k
11k
901k
$4,460k
Guidelines/Policy for Revenue
Generating Activities at UMass Boston
ESS 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 Boston
ESS 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 Boston
WORKING 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 Guidelines
1.
2.
3.
4.
5.
6.
7.
8.
9.
Tuition and Fees
Conferences/Workshops*
Charitable Donations
Ticket Sales*
Miscellaneous Revenue*—non-UMass Boston students
Sales of Books, etc.*
Recurring Space Rental
Grant and Contract Agreements
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 meet
o requests for new funding
o base reductions to meet target
o recommendations to Chancellor mid-Sept
here and now
Academic Affairs
Admin & Finance
Enrollment Mgmt
Student Affairs
GRPA
Athletics
University Advancement
Chancellors Office
Total all
FY15
Base Budget
159,253,173
37,539,255
9,199,687
12,109,643
3,349,444
5,132,551
4,286,891
3,131,467
234,002,111
Request
Amount
3,985,765
1,497,208
369,543
1,002,330
1,186,700
597,000
425,959
9,064,505
here and now
the future
($ in millions)
Revenue
Growth
FY14
FY15
$346.1 $373.6
-
$27.6
FY16
FY17
FY18
$397.0
$420.4
$440.7
$23.4
$23.3
$20.3
the future
($ in millions)
Expense
Growth
FY14
FY15
$352.6 $381.6
-
$29.0
FY16
FY17
FY18
$407.0
$433.9
$451.3
$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 Education
Governance
o federal regulations
o Board member due diligence
o focus on metrics (like student outcomes)
Long-term viability
Revenue
•
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)
Demographics
o enrollment (decline of traditional-aged students)
Technology
o teaching and learning paradigm
o 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.
Reallocation
Procedure

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
Reallocation
Procard Refresher/ Reallocation Workshops
 Aug 20
1-4 pm Full
 Sept 19
1-4 pm
 Oct 23
1-4 pm
 Nov 13
9-12 noon
Records Retention and
Disposition Update
Date: 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:
Financial Records:
All payments & supporting materials
Retention Period:
Retention Schedule Begins:
Controller’s Office
12 years
After payment
ORSP
7 years
After last payment
Procard Records
Travel Card Records
Department
Department
12 years
12 years
After payment
After payment
Purchase orders
Procurement
7 years
After payment
Grant Proposals:
Funded
Non-funded
ORSP
ORSP
7 years
3 years
After last payment
After decision to not fund
Department PI
Faculty
7 years
After administrative use ceases
After final report
Employee Records
Recruitment Files
HR
Department
Permanent
3 years
After admin. use ceases
After 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
After administrative use ceases
Grant budgets & financial reports
Research Records:
Grant-funded
Non-grant
Committee members’ records: Until 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
Next Step
• 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
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 nonurgent 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 12:00ammidnight 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?