The Monthly Ledger
A publication by the USM Foundation's Business Office
Contact Us!
For general questions, information, suggestions, or comments.
Quick Links





If you are experiencing difficulty opening these pages, please try using a different browser.

Looking Ahead


We are now contacting units to help us find copies of missing Memorandums of Understanding. Your assistance and prompt attention to these requests is appreciated. 


Last August, the USM Foundation began offering access to Dashboard for our campus administrators. We'd like to hear about your experience: what you like, what you don't like, how often you use it, etc. Your input will help us to continue to improve our services. Please e-mail us and share your thoughts with us!

Help Us Help You!
As part of our initiative to move towards using our forthcoming website more frequently, we encourage you to visit our current website's Administrator Quick Tips page to find details about submitting your Disbursement Request Forms and working in Dashboard. When the new website launches, we will make sure to indicate where to find that same information for future reference. We strongly encourage you to bookmark this page in the meantime. 

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 


February 18, 2013
Important Dates


Now: It's not too early to submit your DRF requests to reimburse your state accounts for spring scholarships!


2/27: 9:00am-12:00pm: New Administrator Training. 

1:30pm-4:00pm: Dashboard Training. Training will be held in the Chancellor's Conference Room of the Elkins Building. Please contact us if you have questions 

about either training session or would like to register. 

Please specify which session you would like to register for, or both, no later than February 20th. Please include your name, phone number, and e-mail address.


Early March: We are planning to host a Grant Workshop prior to Spring Break. Please e-mail Randy Possehl with suggestions for topics, dates, and times.


3/18-3/20: The USM Foundation will be closed for Spring Break. No checks will be issued during this time. Items received after 1:30pm on March 7th will be issued on Monday, March 25th.

What's New!


Announcement: As we are always looking to improve client services, the decision has been made to consolidate our three service e-mail addresses to one: We have found that most queries come to this e-mail address and encourage you to continue directing your questions, requests for information, comments and needs to this address along with any special report or transfer requests. This inbox is monitored by staff at all times to ensure a prompt response to your questions. 


Fiscal Year 2014 Spendable Income:

The Spending Policy Committee met on February 14th to make their recommendation for the FY14 spending rate. This rate will be voted on by the full USM Foundation Board of Directors on February 21st. Once the rate is approved, calculations will be completed and units should receive the FY14 Spendable Income allocation by or before March 8th. A new column will be added to Dashboard to show the next fiscal year's spendable income.


Thanks to investment returns of 9.61% of the endowment pool for calendar year 2012, there has been a 50% decrease in the number of underwater funds across all campuses over the last year. However, there are still a number of funds that remain underwater. We do not allow spendable income when a fund's market value on December 31st is less than the historical gift value, by policy. However, please be reminded that clients may request an exception by completing the Underwater Funds Spending Request.


Please submit your request no later than May 31st for review by the USM Foundation Board of Directors. Sooner is always better than later! 

Have You Ever Wondered...
About the size and impact of endowment accounts by the numbers?
18New endowment accounts funded in calendar year 2012


35% increase in dollars disbursed from endowment accounts in FY12 over FY11

162: Number of campus administrators managing USMF endowment accounts


1,237: Total number of disbursements from endowment accounts for FY12


1,280: Total number of endowment accounts as of 12/31/12


1,437,000: Total dollars disbursed for Department/ Program Support in FY12


1,488,000: Total dollars disbursed for Faculty Support in FY12


3,262,000: Total dollars disbursed for Student Support in FY12


5,131,000: Total gift dollars received to endowment accounts in FY12


11,996,000: Total market value of the largest endowment account as of 12/31/12


12,738,000: Total dollars disbursed for student support over the past five years


24,852,000: Total dollars disbursed for all purposes over the past five years


191,263,000: Total market value of all endowment accounts as of 12/31/12