This annual review highlights the Division of Finance's accomplishments and contributions in fiscal year 2018.
ENSURING UVM'S FINANCIAL SUSTAINABILITY
In support of academic quality and affordability
- Integrated UVM’s strategic financial planning model into executive decision-making and the annual agenda of the Board of Trustees Budget, Finance & Investment Committee
- Implemented a process for planning and accounting for deferred maintenance projects in conjunction with Physical Plant
- Chaired the Standard 7 Financial Resources Subcommittee for UVM's 2019 New England Association of Schools and Colleges (NEASC) reaccreditation self-study
- Developed an improved system for forecasting revenues and monitoring expenditures in the Athletics department
- Successfully negotiated an extension of University’s F&A FY18 rates through FY21
- Implemented Uniform Guidance requirements for small purchases on sponsored projects
- Prepared FY19 fringe rate proposal
- Inventoried University agency funds in preparation for compliance with Governmental Accounting Standards Board (GASB) Standard 84: Fiduciary Activities
- Began inventory of all University lease agreements and issued request for proposals for a consultant to implement PeopleSoft Lease Administration in preparation for compliance with GASB Standard 87: Leases
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Thank you for taking the time to explore this report. I welcome any feedback on how our Division may serve you better.
Richard H. Cate, VP for Finance and Treasurer