1 / 11

Finance Update June 8, 2007

Finance Update June 8, 2007. Table of Organization Upcoming Reporting Improvements (Overview) Grant Watch List Grant Budget for ’08 April Financial Results EreqIbuy. Improved Reporting. Washington Square stopped supporting Ereport upgrades 2 years ago

umay
Download Presentation

Finance Update June 8, 2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Finance Update June 8, 2007 • Table of Organization • Upcoming Reporting Improvements (Overview) • Grant Watch List • Grant Budget for ’08 • April Financial Results • Ereq\Ibuy

  2. Improved Reporting • Washington Square stopped supporting Ereport upgrades 2 years ago • Adopted “user” approach…Brio Reporting. • Finance hobbled together a team, led by Steve McClendon • Designed Financial Statement Reports and other complex internal reports. • Implemented Parm grant reporting for FA’s. • Had Dept Admin testers 1.5 years ago • Now (7/1) it’s ready to go public. • 3 Departments are now Beta Testing • Steve at last DAC this month to review screen shots • 7/1 to you. • 9/1 (+/-) to PI’s

  3. List of Reports • Grant Status: PSR Summary, Update, Personnel, Acct Analysis, Reconciling Items • Grant Trial Balance • Grant Trend Report (’04 forward): Trend Graph, PI Detail by Sponsor, Research Dollar Density, Space Square Footage, # of PI’s, Dollar By PI • Budget Summary Report

  4. Improved Reporting • These are not the ideal set of reports • Any report we build is easily downloadable and exportable. • We are now capable of building and publishing other financial reports that you would like to see. • The more complex, the longer to design. • The more data involved, we may need some behind the scenes help to improve processing time.

  5. Expiring Grant Review List • Monthly, Expiring Grant Review List (formerly known as the Grant Watch Lists) are sent to department administrators that have projects expiring in the next five months with the following criteria: • expiring current year budgets greater than $400K; or • expiring current year budgets that represent over 50% of an investigator’s current funding. • The list is an Excel file for each department that includes three tabs: • Review List: as described above • Pending Proposals: a list of pending proposals for investigators on the review list with potential start dates within six months of the current date • Current Funding: a list of projects that are current for the department • The current status is as follows: • Finance has sent Review Lists for the months ended January 2007 through April 2007 • The response rate is at 60%. • The next lists will be sent by June 15 for the month ended May 2007

  6. Dreams • That expiring grant review list evolve into an online interactive tool • Departments, SPA, Finance • Be proactive and real time as it relates to applications • For ’08 Budget, we need your help with applications not out the door yet.

  7. APPLICATIONS ANTICIPATED: June through October • PI Name • Sponsor Name • Project Start Date, Project End Date • 1st year Direct $’s, 1st year Total $’s • Total Project Direct $’s, Total Project Total $’s • Chairman’s assessment of success (%) • Spreadsheet out today. Please return 6/15.

  8. April Ytd Financial Results • YTD ($18.5) variance of $35.4. • Mainly due to sale of Remicade effective 1/1…$34M of the variance. • Remicade Sale of $650M happened in May, will not show in operating results. • Clinical Operations +$1M • Research: Direct Revenue +8%, Indirect +5% +$1.5M, Deficits (.9) • Gifts are ahead programmatically, behind for Growth Agenda.

More Related