The Monthly Ledger
A publication by the USM Foundation's Business Office
Contact Us! 
  
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
usmf-business-support@usmd.edu, but the new form will help us process your questions, concerns, and issues more efficiently. 
Important Dates
  Calendar

7/28: There will be no checks processed. Please plan accordingly.  

 

8/1: Spendable income carryover calculations will be completed and distributed, and dashboard data for FY2015 will be updated.

 

9/15: Audited Financial Reports for FY14 will be completed.

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July 16, 2014
What's New!

 

Staffing Update

 

We announced last month that Linda Ringer, our Client Relations Specialist, was leaving us to move to North Carolina to be closer to her daughters and grandchildren. We have decided, for now, that we will not be filling this position. We have delegated Linda's responsibilities to other staff members in the Business Services area. 

 

We continue to encourage you to address any and all questions, concerns, and comments you have on an on-going basis to our support e-mail address or to complete the support form on our website. Also, please familiarize yourselves with our standard turnaround times and service commitments here.

 

Also, please be aware that we will have limited staffing over the next couple of weeks as the summer vacation season kicks into full gear. Please plan accordingly.

 

Concur

 

This is a new web-based expense report reconciliation application that we are rolling out this month for our credit card holders to track, reconcile, approve, and submit their monthly credit card expenses. This will be a more efficient and controlled method for reconciling the credit card statements for both the card holders and our staff. An added benefit is that we will be able to create an import file of the transactions that has a more descriptive journal entry reference so you will have a better idea of what the Diners Card charges are when you see them on your dashboard and monthly activity reports.

 

Endowment Spending

 

Spending from USM Foundation endowment accounts in fiscal year 2014 totaled almost $5.8 million. This was a 1% increase over fiscal year 2013. Annual endowment spending for student, faculty, and department support has increased by approximately 24% since fiscal year 2010. And overall dollars available to spend for fiscal year 2015 will be higher as carryover dollars, market values, and the spending rate will all be higher next year. Our goal is to have your fiscal year 2015 available spending amounts, including carryover, distributed to all administrators by August 1st.

 

Enjoy your summer!