The Monthly Ledger
A publication by the USM Foundation's Business Office
Contact Us! 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

In August we will be surveying the campuses regarding non-spending of available spendable income. Please keep an eye out for e-mails on this subject. Our goal is to determine what actions we might need to take to help you increase the actual spending rates on your endowment accounts.


Help Us Help You!

Disbursement Request Forms 


1. Please be sure to regularly check our website for the most recent version of the Disbursement Request Form and other updated forms and policies.


2. Social Security/ITIN Field - you have probably noticed you can no longer enter this field on the DRF. This is in preparation for our transition to Dashboard so we can protect this data when documents are scanned into Financial Edge. Completed W-9s are still required for new payees. If a DRF is for reimbursable expenses, a W-9 is not required.


3. Even though we ask for no staples, please do secure your documents with paper clips or binder clips as necessary.


4. UMCP - no envelopes are needed for DRFs reimbursing the campus. Please remember that all requests are combined and sent to the Cashier's Office.


5. Accounts payable checks are mailed to the payee and campus checks are returned to the appropriate campus. The USM Foundation no longer returns non-campus checks to the requestor. This change took place in December 2010.

Who We Are


Director of Business Operations



Accounting Associate -
 Accounts Payable



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 


July 20, 2012
Important Dates


7/23Spendable Project activity reports for July 2011-June 2012 to be e-mailed to administrators.


7/24-25: Dashboard training at

CalendarUSMF Offices. There will be a

9-11:30am session and a 1:30-4pm session. To register, please e-mail us. For more information, please see the June Monthly Ledger.


7/31: Spendable Income Carry Forward to FY13 reports to be e-mailed. Non-spendable Income reports for July 2011-June 2012 will be e-mailed to administrators. 


8/2: Dashboard training at USMF Offices. There will be a 9-11:30 am session and a 1:30-4 pm session. To register, please e-mail us. For more information, please see the June Monthly Ledger.


8/17: Administrator Dashboard roll out.

What's New!


You asked and we listened.


We have received many questions regarding PDIP Spendable Income being in a separate project from the associated "parent" project.


In order to make it easier for both the administrators and us to manage these projects, the spendable income from your PDIP project will be moved automatically to its parent project starting in FY2013.


This means you will no longer see the PDIP project separately for spendable income purposes. For non-spendable activity you will still see investment activity in the PDIP projects.


This process will allow you to see all of your spendable income for the parent project and PDIP project together. It will only require one DRF to access your spendable income.


The same carryover rules still apply. Carry forward spendable income is only available for two years. Expenses will be applied to the oldest income first.


When you receive your July reports (in mid-August), spendable income allocations for FY2013 will have been loaded. The new codes for PDIP Spendable income amounts, if applicable to a project, will be as follows:


PDIP CY - current year spendable income from the associated PDIP project.


PDIP PY - prior year spendable income from the associated PDIP project. This is the FY12 carry forward from the PDIP project.


PDIP Pre-PY - prior year spendable income from the associated PDIP project. This will be FY11 carry forward from the PDIP project.

Have You Ever Wondered...
What makes up the total spendable income available in the new fiscal year? 


What makes up the total spendable income available in the new fiscal year?


Your available spendable income is comprised of the following parts:


CY: This is your current year spendable income-for FY 2013 it represents 3.75% of a project's 12/31/11 market value.


PY: This is unspent spendable income carried forward from the previous year. In this case it is FY12 unspent spendable income.


Pre-PY: This is spendable income that has been carried forward for two years. In this case it is FY11 unspent spendable income. This spendable income, if not used in FY13, will be returned to accumulated earnings at the end of the fiscal year.


Remember: the policy for spendable income carry forward is for a two year period. The USM Foundation applies expenses to the oldest spendable income first.


This year, based on your inquiries, the spendable income from PDIP projects will automatically be moved to the parent project. This was covered in the "What's New?" section.


When you sum it all up it equals your total available spendable income for the current fiscal year.


If you have questions or comments, please contact us! We want to make sure you have all the tools necessary to successfully accomplish your job.