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

June 18, 2013
Important Dates

  Calendar

6/24: Last check run for FY13. DRFs are due by 1:30pm on June 20th. This will be your last chance to have checks deposited in your campus accounts before the end of the fiscal year. 

7/4-7/5: The USM Foundation will be closed in observance of the Independence Day holiday. 

7/11: Last day to submit DRFs for FY13 expenses: due by 1:30pm. This will be your last chance to use available spendable income for FY13. 

July-September: Please use our help e-mail address, especially during this period, as many staff members may be on vacation. Requests sent to an individual's e-mail may not receive prompt attention.
What's New!

 

Strategic Plan

 

In April, we mentioned that we have been reviewing and updating our Strategic Plan. The Strategic Plan will help to set the course of the USM Foundation over the next five years by guiding our mission and establishing our goals. The updated Strategic Plan was approved by our Board on June 14th. We will provide more specific details in the coming issues of the Monthly Ledger.

 

New Website

 

We also previewed our new website at our June 14th board meeting. We are in the home stretch and will be rolling the website out in the coming weeks. Look for an announcement shortly. 

Electronic Disbursement Request Form

Yes, that's right, we are gearing up to establish the ability to process DRFs electronically, thanks to the new website. In preparation, we need to clean up our authorized signer table. Over the next few weeks, you will receive a report asking you to verify the authorized signers on your assigned projects. Please follow the instructions, and review and return your data promptly. Stay tuned for more about this development and upcoming trainings.

Have You Ever Wondered...
 

How your operating projects stack up against your endowment projects? Here are some interesting facts: 

  • We manage an almost equal number of endowment and operating projects with just over 1300 of each type.
  • The endowment projects total about four times as many dollars as operating projects, with just over $200 million invested for endowments and about $50 million for operating projects.
  • However, we do spend over three times as much each year from the operating projects as we do from the endowment projects. In fiscal year 2012, we spent over $16 million from operating projects and approximately $5.4 million from endowments. 
  • In FY2012, we processed four times as many disbursement requests against operating projects as we did against endowment projects, with just under 1,000 requests against endowments and around 4,000 against operating projects. 
  • Operating projects are used for faculty, student, departmental, and program support - just like endowments. Operating projects also include grant funds and special event projects which don't have corresponding endowment project types. 

If your projects were a football team, your endowment accounts would be the quarterbacks, receivers, and running backs - the stars that we're always talking about, who create all the drama. The operating accounts would be the linemen - they do the heavy lifting but are rarely acknowledged.