FINANCIAL ASSESSMENT PROCESS

2

The University of Texas at San Antonio

FINANCIAL ASSESSMENT PROCESS

• Beginning Fiscal Year 2009, Financial Affairs will perform financial assessments to review and report on the allocation and use of UTSA’s institutional resources.

3

What is a Financial Assessment?

• Periodic and systematic review of • institutional budgets • revenues & expenditures

• Internally focused at an organizational-level • Differs from Monthly Financial Report (MFR)

which is a higher-level, macro-view required by UT System.

4

Financial Assessment Objectives

• Transparency• Cash Flow Analysis• UTSA Compact- Financial Management Plan

• UTSA will formalize a … financial assessment program to review divisional/departmental budget-to-actual data,

perform variance analysis and evaluate key indicators.

• SACS Accreditation Standard - 3.10.4 Control of Finances• The institution exercises appropriate control over all of its

financial resources.

5

When will the Financial Assessment be performed?

• Recommended 2 to 3 times each fiscal year• Q1 (Nov month end results) Revenue Assessment• Q2 (Feb month end results) Mid Year Assessment• Q3 (May month end results) Carry-forward Planning• Q4 (Year-end results) Year-end Results

FY09

6

What will be required by each division, college?

Q1 (Nov month end results) Revenue Assessment• All work will be done by Financial Affairs – eff. FY10

Q2 (Feb month end results) Mid Year Assessment• Will require assessment work by Divisions, Colleges

& Subdivisions• Mid-late March with 2-3 week turnaround

• Unencumbered Expenditure Projections• Revenue Projections

We will perform our first Q2 FA this year……

7

What will be required by each division, college?

Q3 (May month end results) Carry-forward Planning• Will require carryforward plans by Division• Reserve transfers for affected fee areas authorized

We may forego and include carryforward plans in the Q2 assessment……tbd

Q4 (Year-end results) Year-end Results• All work will be done by Financial Affairs

Dependent on workload & staffing; priority is Annual Financial Report, Budget Submittal & CAFR Audit needed for SACS Accreditation.

8

Next Steps • Presentation to CMO in January

Obtain buy-in / support

• Complete Cognos Report Development (ongoing) Distribution requirements

• Assign Roles & Responsibilities (Feb – early March)

Hire Financial Assessment Analyst (position posted this week)

Discuss requirements with each division financial rep to assess potential issues and answer questions

Document / communicate process and requirements

9

QUESTIONS?