The Monthly Ledger
A publication by the USM Foundation's Business Office
Contact Us!
 
usmfreports@usmd.edu: Request a special report or a report off-cycle
 
For general questions, informations, suggestions, or comments
 
To request a wire or ACH transfer or inform USMF of incoming funds
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Looking Ahead

 

During the first quarter of 2012, the Foundation plans to schedule educational training sessions for account administrators. If you have a specific need or topic you want addressed, please send us an e-mail. We want these sessions to be informative and to meet your needs.

Help Us Help You!
 

1. When submitting DRFs for entertainment reimbursement, please include a list of attendees and their affiliation. If you have questions about required documentation, please contact us.

 

2. New Vendors - send a W-9 to avoid a delay in processing. A new W-9 should be completed anytime an address or name change occurs. 

 

3. The full address should be listed on the DRF at all times for verification. Please do not state "Address on file." 

Who We Are

 

Director of Business Operations
301-445-1922

______________________________ 

 

Accounting Associate -
 Accounts Payable
301-445-2727

______________________________ 

 

Bernadette Mannone

Accounting Associate - 

Gift Processing

301-445-2704 ______________________________ 

 

Dawn James

Administrative Assistant to the Vice President for Finance and CFO

301-445-2713 ______________________________ 

 

John Simcox

Staff Accountant and 

Payroll Administrator

301-445-2734 ______________________________ 

 

Kate Koyfman

Investments Staff Accountant

301-445-2706 ______________________________

 

  Linda Ringer

Client Relations Specialist

301-445-2717 ______________________________

 

Randy Possehl

Grants Coordinator and Staff Accountant Contracts

301-445-2710 ______________________________ 

 

Roy Hossler

Senior Executive Accountant

301-445-1949 ______________________________

 

Virginia (Ginger) Whelley

Assistant Comptroller

301-445-2726 ______________________________

 

Pam Purcell

Vice President of Finance and CFO, General Counsel 

301-445-2720
January 17, 2012
Important Dates

 

With no special dates affecting business this month, please take note of our general operations schedule:

 

Calendar

Thursdays: All DRFs must be received by 1:30pm for checks to be issued the following Monday. For example: a DRF received on Thursday, January 19th would have its corresponding check issued on January 23rd, as long as it meets all DRF criteria.

 

Third week of the month: The Monthly Ledger is distributed.

 

15th business day after month's end: Fiscal Year-to-date Spendable Project Activity reports through the prior month are scheduled to run and be delivered by e-mail to the administrator. December 2011 YTD reports will be generated on January 24th, 2012. 

 

30th-45th day after month's end: Fiscal Year-to-Date Non-Spendable Project Activity reports through the prior month are scheduled to run and be delivered by e-mail to the administrator. December 2011 YTD reports will be generated between January 31st and February 14th, 2012.

What's New!

 

In an ongoing initiative this year to identify ways in which we can better serve you, we recently created a Client Relations Specialist position. Linda Ringer has taken on this new role. Linda has been with the USM Foundation for a few years after many years on the College Park campus in a variety of administrative positions and brings a unique blend of campus and Foundation knowledge to this position.

 

First and foremost, Linda is responsible for addressing any issues, questions, or concerns you may have regarding your interactions with the USM Foundation Business Office. If Linda doesn't have an immediate answer for you she will track down someone who can help address your issue.

 

Linda will also be responsible for putting together educational and training materials and meetings. The Monthly Ledger is part of this, but as we move forward, Linda will coordinate educational meetings on each campus. She will also work on improving and maintaining materials available on our website.

 

We hope this new position will improve lines of communication between the USM Foundation Business Office and the campus administrators. As we start down this path, please feel free to give us your feedback and let us know how we're doing.

Have You Ever Wondered...
 

Why we refer to your accounts as projects? And if there is some secret meaning or hidden message in how the accounts get numbered?

 

First, let's tackle why we call your account a project instead of an account. You may have noticed your reports say Project Activity Report. It's because in Financial Edge (FE), our accounting software, the field used to segregate activity by source of funds is called a project and the field used to track types of revenue and expenses is the account. So our account is what you call the sub-code field on your campuses. And our project is what you call the account on your campuses. We know-a little confusing. We'll blame it on technology.

 

Now, what about the numbering scheme? No hidden messages - but there is some logic in how the accounts get numbered.

 

First, each campus has their own two digit prefix identifier:

01            College Park

02            Baltimore

04            Eastern Shore

05            Baltimore County

06            University College

07            Center for Environmental Science

 

The next digit in the project indicates the type of fund:

XX-1, XX-2: Operating fund

XX-3: Operating scholarship

XX-4: Endowment

XX-44: Quasi-endowment (operating account invested with endowments)

XX-5: Research

XX-55: Grant - primarily, there are some older projects numbered this way that are not grants.

XX-6: Operating fund for a specific event, conference, seminar, building, etc.

XX-7: Internal Foundation administrative accounts

XX-8: Not in use at this time

XX-98: Trusts

XX-99: Annuities

 

So account 01-30122 would be a UMCP operating scholarship and 05-40048 would be a UMBC endowment account.