Administrative and Academic Support Units
Assessment Report Form for Year: FY 2011-2012
Finance Division
Unit Mission Statement
The Finance Division supports and advances Fairleigh Dickinson University's mission by developing
and maintaining accounting, financial management and reporting procedures and systems that ensure
fiscal integrity and provide financial stewardship over University resources.
1
Departmental
Objective
Conduct at least one
financial postimplementation
review for programs
started at least 3
years ago.
Means of
Assessment
Prepare a
contribution analysis
and compare to
original program
goals.
Summary of data
collected
Prepared a postimplementation
review for the
following new
programs:
MS in Homeland
Security
MS Sports
Administration
MA in Media and
Professional
Communication
MA in Forensic
Psychology
The analyses were
presented to the
Finance, Audit and
Budget Committee.
Use of data (closing
the loop)
The postimplementation
review highlighted
the need to set
separate budget
codes for new
programs to properly
track the activity, and
for careful release of
funding as
enrollment activity
may materialize
more slowly than the
original model
indicated.
Administrative and Academic Support Units
Assessment Report Form for Year: FY 2011-2012
Finance-Office of Resource Allocation & Planning
Unit Mission Statement
The Resource Allocation and Planning offices’ mission is providing, gathering and analyzing financial
data as it pertains to the University’s Budget process, Cost Analysis and Fixed Asset/Inventory
Management. This data is used by various constituencies throughout the University to make
decisions that support the overall mission of the Institution in preparing students as global citizens. It
is to this end that the Office of Resource Allocation and Planning strives to meet the needs of
management in providing accurate and timely reports and analyses.
1
2.
Departmental
Objective
To complete
implementation of
the network version
of fixed assets with
appropriate
documentation. To
begin using the
upload features and
exporting of files
options available.
Means of
Assessment
Time saved in
running reports and
measuring the
benefits derived from
the uploading and
export features.
Provide
documentation to
end users for running
XLSA and XLB S
reports. Arose from
request of end users
wanting to view
Enables end users to
review their own
reports. Time and
paper savings for
Finance-ORAP.
Summary of data
collected
This was the first
time the network
version was used for
running depreciation
and for reporting
purposes.
Depreciation and
custom reports ran
faster and saved
approximately 6
hours from previous
pc based version.
The Export version of
FAS was used for the
first time to extract
some reports in Excel
and PDF format. The
documentation was
completed but time
did not permit the
use of the upload
feature. This will be
done in 2012-2013.
Documentation
completed and
distributed to a few
individuals for use.
Saves this office time
in running and
printing reports.
Use of data (closing
the loop)
Provided quicker
turn-around of
depreciation reports
and enabled excel
worksheets to be
done on a more
timely basis.
Provided PDF file
from Export feature
to be used by Risk
Manager for
insurance purposes.
Based on this
outcome this will be
rolled out Universitywide in fiscal year
2012-2013. This will
eliminate the running
and printing of three
3.
previous fiscal years
data. Web Advisor
provides the current
year and only a small
window of the
previous year (JulyOct) until the old
year is closed in
October.
Update tables for the
monthly financial
package. With the
opening of new
identifiers this
process is necessary
every few years.
Time savings and less
chance of error in
producing the
reports since
updated tables
reflect the proper
pointing of cell
addresses in the
formal report.
Gives end users the
ability to run these
reports on an
ongoing basis as
needed.
reports from this
office and two
reports from MIS.
This will save a
substantial amount
of time and paper.
The updating of
these tables
expedited the
download process
and decreased the
chance of errors in
the pointing s to the
formal report. This
will save about two
hours each month.
The August 2012
Financial Package
was used to test the
new download
tables. Pointings
were accurate and
the time saved from
the previous
template was about
2 hours. This file will
roll forward for
future monthly
financials and
facilitate the turnaround time of the
report.
Administrative and Academic Support Units
Assessment Report Form for Year: 2011-2012
Finance - Accounting Department
Unit Mission Statement: The Accounting department supports the University mission of global
education by providing University constituents with timely and accurate financial information and by
ensuring that financial records are maintained in accordance with generally accepted accounting
principles and the guidelines set forth by State and Federal government agencies.
The Accounting department gathers, records, reports and analyzes financial data. This information is
provided to and relied upon by various University constituencies. Decision makers consider this
information when making determinations or to substantiate determinations made to support the
University’s mission, strategic drivers and goals.
1
2.
Departmental
Objective
Maintain financial
systems in
accordance with
GAAP, State, Federal
and industry
standards. On an
annual basis this will
continue to be the
number one
administrative
objective of the
Accounting
Department.
Explore the
possibilities, uses,
and implementation
of the Image Now
software for the
Accounting
Department.
Means of
Assessment
Unqualified opinion
from external
auditor. Accounting
Department
personnel will
participate in
continuing education
events such as
webinars,
workshops, and
seminars in as much
as they are available.
Central log of all CE
activities will be
maintained going
forward.
To be successful the
objective will take
place in several parts,
or phases and
depending on
workloads and
staffing, may take
place over multiple
fiscal years. Phase
one will include
identifying possible
areas that would
benefit from
Summary of data
collected
Unqualified opinion
issued by PwC on the
FY 2012 financial
statements. The
University received a
very good audit
report from PwC.
Use of data (closing
the loop)
Finance will continue
to keep current on
financial and industry
standards. PwC
recommendations
will be implemented
and monitored
during the year.
Phase one began but
was not completed
due to limited
resources.
This work will
continue into FY
2013.
3.
Update the existing
University policy and
procedures.
Objective to take
place in two phases.
Phase one to include
revising the highly
visible policy and
procedures such as
the expense report.
Phase two includes
revising the
procedures of
reconciliation and
interdepartmental
procedures by the
end of the fiscal year.
Continuation from
prior year.
electronically storing
information, and
prioritizing which
would be most
beneficial and why.
Phase two would
involve exploring the
hardware and
software
requirements, and
costs needed to
implement. Phase
three would primarily
involve
implementation.
Substantial
percentage of
procedures are
updated and in place
by fiscal year end.
Phase one,
specifically the
“Request for Travel
Advance”, and
“Faculty and Staff
Travel and Business
Expense Report”
have both been
updated and
uploaded onto the
Finance office
Website. The
mileage
reimbursement
portion has been
added to the Finance
Calendar to be
reviewed in June of
every fiscal year.
Part A of phase two
(revising the
interdepartmental
procedures) has been
completed, however,
Part B of phase two
reviewing the
procedures is
approximately 50%
complete. Anticipate
This phase has not
been completed by
the projected date
due to unavailable
resources.
This is being
addressed currently
with anticipated
completion date of
January 2013.
completing the
review at or around
1/2013.
Administrative and Academic Support Units
Assessment Report Form for Year: 2011-2012
Finance - Accounts Payable
Unit Mission Statement
The office of Accounts Payable supports the University’s mission by providing professional, courteous
and reliable service to its students, faculty, staff and vendors while maintaining high standards of
quality to promote the University’s goals and objectives. Through efficient, timely and accurate
payment processing and reporting, the office of Accounts Payable assists in controlling the
University’s expenditures and maximizing resources.
1
Departmental
Objective
To explore the option
of changing the
1099-MISC form to a
laser print format.
Means of
Assessment
Identify steps needed
to change the
software and the
form layout.
Create a timeline for
the project in order
to have the forms
ready for the January
31, 2012 mailing
deadline.
Summary of data
collected
Standard Register
was identified as the
vendor that would
change the software
and the form layout.
Standard Register set
up the integration of
the data stream and
the document setup
from the old method
(line printing) to the
laser print format.
Pre-printed 1099MISC forms and
envelopes were
ordered and received
in December, 2011.
These forms were
successfully tested
and printed in the
Datatel development
account.
Use of data (closing
the loop)
On January 27th,
2012, 377 forms
were successfully
printed and mailed
prior to the January
31st, 2012 deadline
for 1099-MISC
reporting for
calendar year 2011.
On February 11th,
2012, the IRS sent an
e-mail to Gregory
Sarajian in Accounts
Payable as
notification that the
electronic
transmission of the
1099-MISC file was
successful and did
not contain any
errors.
It should be noted
that any 1099-MISC
form that must be
done manually
(information that is
not generated as a
voucher in Datatel)
will not be processed
through the laser
printing.
2.
3.
To explore the option
of changing the
check process from
the current line print
to a laser print
format.
Identify steps needed
to change the
software, printer and
forms and create a
timeline from
inception to
completion of the
project.
Coordinate with the
MIS department, the
print vendor and TD
Bank to determine
support,
security/risks,
enhancements and
costs.
Standard Register
was identified as the
vendor who will
setup the software
and maintain the
hardware for the
laser check writing
process. MIS has
submitted the
Datatel software
information to
Standard Register in
order to setup the
program to print
laser checks.
AP is working with
Standard Register on
document
specification needed
to print laser checks.
TD Bank has been
contacted to
determine what they
need from Accounts
Payable in order to
setup the change to
lasMr checks.
Testing will take
place once all
software information
has been setup and
forms have been
received. Testing
samples will be given
to TD Bank who will
determine if the laser
check meets their
requirements and
specifications.
Administrative and Academic Support Units
Assessment Report Form for Year: 2011-2012
Finance - Purchasing Department
Unit Mission Statement:
The Mission of the Purchasing Department of Fairleigh Dickinson University is to obtain all goods and
services necessary for students, faculty, and staff in a cost effective and efficient manner. We strive
to provide value added service to the academic and administrative community in support of the
University’s global mission.
The Purchasing Department maintains a commitment to excellence through professional ethics and
practices. We abide by the Universities Purchasing Policies and Procedures while aiming to develop
and implement operational procedures that provide the highest level of service.
1
Departmental
Objective
Enforcement of
University Purchasing
Policies and
Procedures. Identify
departments in
violation.
Means of
Assessment
Develop means to
track violations by
category,
department and
individual.
Analyze collected
data.
Send notification to
the individual placing
the requisition
alerting them of the
infraction and send
notification to
department heads
when consistent
violations occur.
Summary of data
collected
The Purchasing
Department analyzed
the collected data and
defined which
departments and/or
individuals were in
consistent violation of
University Purchasing
Policies and
Procedures.
This complete
assessment provided
us with the
information needed to
alert department
heads of how many
and what types of
violations were
occurring in their
areas.
Further monitoring
will continue in order
to determine if this
method of notification
is effective in
minimizing/eliminating
violations.
Use of data (closing
the loop)
After evaluating the
number of violations,
the purchasing
department has
determined that this
exercise has proven
helpful in reducing
the occurrences of
violations.
Community members
are more aware of
the policies and
procedures and the
amount of repeated
violations has been
reduced. Purchasing
has adopted this
method into daily
operating
procedures.
Administrative and Academic Support Units
Assessment Report Form for Year: 2011-2012
Finance - Treasury
Unit Mission Statement:
The Office of Treasury manages the University’s cash, investments, and long term debt. In support of
the University’s mission, the Office of Treasury establishes secure pathways that facilitate global
payments and receipts in connection with the protection of University financial resources. This office
also reports investment results to various university constituencies.
1
Departmental
Objective
Ensure FDU
compliance with
Payment Card
Industry-Data
Security Standards
(PCI-DSS) regulations.
(Annual Review)
Means of
Assessment
FDU currently has
seven credit card
merchant accounts
operating under its
corporate domain
which are serviced by
four merchant
providers. We will
assess each account
individually to
determine if its
operating processes
are in compliance
with current
regulations. And, we
will file self
assessment
questionnaires with
service providers that
require such
documentation.
Summary of data
collected
After further review,
it has been
determined that the
existing merchant
accounts are in
compliance with PCIDSS regulations.
Use of data (closing
the loop)
We will continue to
monitor the
merchant accounts
as future changes are
expected.
Administrative and Academic Support Units
Assessment Report Form for Year: 2011-2012
Finance – Student Loan Repayment/Credit & Collection
Unit Mission Statement:
The Office of Student Loan Repayment mission is to assist students to be responsible world citizens and
ensure compliance with applicable federal regulations. The office provides students with an ethical
understanding of their student loans and tuition obligations. We enhance students’ success by
developing strategies to ensure that students do not default on their financial responsibilities and to
provide, with accurate and timely manner, services that help students better manage their obligations.
1
Departmental
Objective
Continue the
scanning of credit
and collection
office’s files.
Means of
Assessment
Determine
completion rate and
accuracy of the
scanned files.
Summary of data
collected
Recommend
continued scanning
of documents while
keeping files on site.
Use of data (closing
the loop)
Files will be kept in
house until it is
determined to be
moved off site.