The Monthly Ledger
A publication by the USM Foundation's Business Office
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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. 

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. 

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 


May 16, 2013
Important Dates


6/6: Dashboard Training, 9am-11:30am, UMBC Campus University Center Room 312. Please RSVP to Liz Lander by May 29th. 

6/12Administrator Training, 1pm-4pm, UMBC Campus Commons Room 329. Please RSVP to Liz Lander by June 10th. 
6/24: Last check run for FY13; Disbursement Request Forms are due by 1:30pm on Thursday, June 20th.
7/11: Last day to submit Disbursement Request Forms for FY13 Expenses; due by 1:30pm.
What's New!


Most of you are aware that we have a support e-mail box that we encourage you to use for questions, issues, comments, and tasks that you want us to address. This has allowed us to be more responsive to your needs and we hope that you have noticed the improvement. However, we feel we can do better.


We are currently exploring the option of using a Help Desk software package to help us manage, control, and analyze the support requests we receive. Most of you are probably familiar with this type of software through your IT departments as your IT support requests are typically handled in this manner. We are looking to roll this out in the first quarter of the new fiscal year so please keep your eyes and ears open for an announcement!

Have You Ever Wondered...

Why We Seem to Make You Jump Through So Many Hoops? 


It can feel like there are a lot of steps to take to get things paid, monies deposited, or agreements signed. Most of our policies and procedures are actually a direct result of the myriad layers of rules, regulations, and guidelines we must follow in order to operate! 


Our overall goal is to serve all of our constituents in an efficient and effective manner while we navigate this seemingly more complex, and ever changing, regulatory environment. We thought it would be helpful to give you a little insight into this hierarchy of rules makers and other influences that impact most of our processes:


First and foremost we are governed by the IRS code as it relates to our 501(c)(3) status as a non-profit. We cannot allow any activity or transaction that could put our 501(c)(3) status in jeopardy.


Next, like all companies and organizations, we are governed by various federal, state, and local statutes that impact everything from our Investment and Spending Policies on one end of the spectrum to how long we have to keep resumes for people we don't hire on the other end of the spectrum.


In addition, there are Generally Accepted Accounting Principles we must adhere to in order to be able to publish "clean" audited financial statements each year.


Then, as an affiliated foundation of the University System of Maryland (USM), and the Advancement Office for the USM, we have various Board of Regents policies that impact our operations.


Additionally, our own Board of Directors will provide guidance in how we operate in order to fulfill their common law duties, fiduciary responsibilities, and attainment of the organization's missions and goals.


Of course the insurance agents and lawyers also chime in to make sure our risk and liability exposures are minimized.


And finally, where applicable, we follow best practices (such as how gifts and donors are classified) as promulgated by various industry organizations in order to be able to measure ourselves against our peer groups or other indices of achievement.


Unfortunately, rules and regulations are just a fact of life and they aren't going away. As we continue to navigate this maze we certainly will continue to strive to keep our processes as simple and direct as we can for all of our constituents while meeting our obligations to the various rule makers.