Information about specific accounts is made available to donors, account administrators, Deans, USM Foundation staff, and external and internal auditors.
Those responsible for administering, or overseeing the administration of, accounts should understand that their responsibility is a key element of our donor stewardship as it relates to reassuring our donors that their gifts are being used as they intended. Specific responsibilities are ensuring that gifts are posted to accounts timely and accurately, disbursement requests from an account match the purpose defined in the account agreement or MOU, and available spendable income is used in full to support the students, faculty, or programs defined in the account agreement or MOU
Receive a monthly detail Spendable activity report and a monthly detail Non-Spendable activity report. These reports are distributed electronically via e-mail in a PDF format around the 15th working day of the following month for the Spendable report and the last calendar day of the following month for the Non-Spendable activity report. These reports show all transactions from the beginning of the fiscal year through the prior month-end as well as the beginning and ending balances for the Spendable and Non- Spendable balances for an account.
Each March the account administrators will receive a report showing the Spendable Income calculation for their accounts for the next fiscal year.
And after the close of the fiscal year – usually the first part of August – a report will be distributed that shows the calculation of Spendable Income carryover from the prior year into the new fiscal year.
In addition to the above reports, administrators are encouraged to access their accounts through our financial software via our Account Administrator Dashboard. Administrators who have not used Dashboard before will need to complete a training class before they will be given access. The Dashboard gives the administrators real time access to their accounts in summary form with ability to drill down into more detail. Also, via the Dashboard, administrators have the ability to view scanned documents related to their accounts or their disbursement transactions.
Vice Presidents for Institutional Advancement
Receive quarterly summary reports for each college on their campus showing the amount of spending against available spendable income.
Each March the vice-presidents will also receive a report showing the Spendable Income calculation for the accounts for each college on their campus.
Deans (or their designee)
Receive quarterly summary reports for their college showing the amount of spending against available spendable income.
Stewardship reports are provided to donors by the campus advancement/development departments annually. Donors should be given market values, spendable income, and endowment performance results along with disbursement information including scholarship recipient names or information on the programs or faculty supported or funded.