The Monthly Ledger
A publication by the USM Foundation's Business Office
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If you ever have an issue, a problem, or a question, please visit our new support page
We can certainly be reached at our email account at, but the new form will help us process your questions, concerns, and issues more efficiently. 
Important Dates

6/11: New Administrator Training 

UMBC, 9am-12pm

Register by 6/5


Dashboard Training,

UMBC, 1:30-4pm
Register by 5/28


6/30: Last check run for FY14, DRFs are due by 1:30pm on June 26th
7/12: Last day to submit DRFs for FY14; expenses are due by 1:30pm.
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May 15, 2014
What's New!


USM Foundation 
Board Committees 


In the April newsletter we welcomed our new board members and introduced you to the extensive knowledge and experience that our board members bring to the USMF. In this article we'll explore how our board works with us through the various board committees.


The board currently has seven committees:


The Advocacy Committee engages key board members in outreach to the Maryland community to support public understanding of the value and impact of public higher education in Maryland and to support measures that advance the institutions affiliated with the System.


The Audit Committee fulfills the oversight responsibilities of the board through review of the financial reporting process, the system of internal controls, the audit process, and processes for monitoring compliance with laws and regulations.


The Budget/Finance Committee reviews and monitors the overall financial status of the Foundation, including its budget and reserves.


The Executive Committee serves an administrative role for the board by exercising the rights, powers and authority that may be granted from time to time by the full board.


The Governance Committee deals with the structure of the board including identifying candidates, monitoring participation and engagement of board members, developing and reviewing succession plans, and reviewing policies and processes in how the board and committees interact with and provide oversight  of Foundation staff.


The Investment Committee works with the investment office in setting the strategic direction for the management of the endowment and operating portfolios and in reviewing and approving the specific actions to meet those strategic objectives.


The Spending Policy Committee establishes and reviews the spending policy to determine its appropriateness in light of the current economic environment and applicable laws and regulations and recommends an annual spending rate for Executive Committee approval.

Help Us Help You 


Please be sure to use only the most current version of our forms. Many of our forms have been recently updated and we ask that you use the forms from our website, particularly the Disbursement Request Form, instead of an older version you may have stored on a local workstation. 


W-9 forms - If you are submitting a W-9 form for a new vendor please ensure that the form is filled out completely and correctly to avoid delays in processing your disbursement. There are three items to play close attention to on the form:

  1. Make sure an organization type is selected.
  2. Make sure a social security number or an employer identification number (one or the other but not both) is provided.
  3. Make sure the form is signed.