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 1 st • 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 Finance and Administration Advisory Meeting
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Agenda Wednesday, August 13, 2014 10:00-Noon Chancellor’s Conference Room Introductions Guidelines/Policy for Revenue Generating Activities at UMass Boston.
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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
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
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
BostonSurvey Results
25 Surveys
24 Returned
Excellent Response
Thank You
Guidelines/Policy for Revenue Generating Activities at UMass
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
Guidelines/Policy for Revenue Generating Activities at UMass
BostonESS 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
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.
Guidelines/Policy for Revenue Generating Activities at UMass Boston
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
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)
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