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Financial Management

The Controller's Office is responsible for developing and maintaining financial and related services including budgetary, accounting, and reporting procedures and systems that support the mission and strategic goals of the University. 

Helpful Information

Month End:

The Controller's Office closes each month by the fifth day of the following month. Once the month is closed a University post will be created notifying everyone that month end has been completed. It is at this point that account balances should be checked and reconciled. The post will also indicate when the current month transactions will be posted. 

Online Account Display:

All account information is available using online account display. The user will be able to view all accounts, activity posted to each account as well as any budget adjustment processed during the year. Online account display can be accessed using the following link: https://yogi.wne.edu/hello.htm and selecting Budget Allocations.    

If you need online account display access or have any questions please contact Anna Swan at ext. 1238 or by email anna.swan@wne.edu

External Financial Surveys:

The Controller's Office is responsible for the completion of a number of external financial surveys that are requested by a variety of organizations. The completion of some surveys is a regulatory and compliance matter related to the funding the University receives, or to maintain accreditation status or the programs we offer. Other surveys are voluntary in nature but benefit the University by providing access to comparable information on peer institutions. Many surveys require a variety of non-financial data and these are completed based on a joint effort between the Controller's Office and the Office of Institutional Research and Planning.

Some of the surveys we prepare or assist with include:

  • National Association of College and University Business Officers (NACUBO)
    • Endowment Survey
    • Tuition Discounting Survey
    • Student Financial Services
    • Integrated Post Secondary Education Data System (IPEDS)
    • National College Athletic Association (NCAA) Athletics Survey
    • Department of Education (DOE) Equity in Athletics Survey
    • Association to Advance Collegiate Schools of Business (AACSB) Business School Survey

If you are a member of the University community and contacted by an external organization requesting University financial data or participation in a financial survey, please contact the individual below for guidance and assistance.

Tax Reporting and Compliance:

The Controller's Office is responsible for maintaining compliance with various local, state and federal tax regulations and reporting requirements. While some tax compliance efforts are managed within other departments (Payroll, Procurement Services) associated with the Controller’s Office, responsibility for a number of tax programs rests directly with the Controller’s Office. Part of that compliance effort involves preparing and filing a number of returns at the local, state, and federal level in a timely manner.

Some of the tax filings we are responsible for preparing and filing:

  • Federal (Internal Revenue Service):
    • Form 990 – Return of Organization Exempt From Income Tax
    • Form 990-T – Exempt Organization Business Income Tax Return
    • Various trust and information returns as required
    • State of Massachusetts (Attorney General’s Office): MA PC Form.
    • City of Springfield (Assessor’s Office): Form 3ABC – Return of Property Held for Charitable Purposes

The University currently has engaged the firm of KPMG LLP to serve as tax consultant and advisor to support our compliance efforts.

Members of the University community may be contacted to provide assistance with tax compliance efforts as the information required for these tax returns is broad based and involves the collection of a variety of non-financial data. If you have a question on a particular tax compliance matter, or the various tax returns filed by the University

Capital Asset Accounting Policy

Individual items purchased or donated with a useful life greater than one year and a cost or value in excess of $2,000 will be capitalized and be subject to depreciation. Computers and peripheral devices valued at $500 or more individually will be capitalized and subject to depreciation. Peripheral devices include any computer hardware that is attached to a computer either physically or wirelessly. 

If a group of assets is purchased (for example 20 desks for a classroom) and their combined cost is at least $15,000, then they can be capitalized as a group. Donated assets will be recorded at the value determined by the donor or independent appraiser to conform to the IRS regulation regarding gifts to not for profit organizations.

Alterations, renovations, and improvements to buildings, equipment, and grounds will be capitalized if they increase the value of the plant asset. Each asset will be recorded separately in a subsidiary ledger maintained for each plant asset type. Accumulated depreciation will be maintained as a separate ledger by asset type and individual accumulations maintained within the subsidiary record. 

Depreciation will be calculated on a straight-line method based on useful life. A half-year will be taken in the year of acquisition. Assets that have not been disposed of will remain recorded even after fully depreciated.       

Sponsored Programs Administration and Accounting

The Controller's Office is responsible for the post-award administration of all sponsored programs (external grants and contracts) awarded to the University. We serve as a resource to all faculty members with grants and are available for assistance in managing grant budgets and interpreting federal and sponsor specific guidelines and regulations.

Some of the services we provide include:

  • Work collaboratively with Advancement and the Director of Grants (pre-award) to assist faculty with any pre- or post-award issue pertaining to applying for or managing external grant funds.
  • Review proposal budgets for compliance with University and sponsor guidelines.
  • Assign University account numbers to grants and contracts upon receipt of an official award.
  • Establish and monitor grant budgets based on sponsor award documents and provide periodic updates to faculty on the status of their budgets.
  • Review grant expenditures to ensure they are allowable based on federal cost principles and specific sponsor terms and conditions.
  • Manage the cash management and reimbursement process for all grants according to sponsor terms and procedures (cash advance requests, cost reimbursement invoicing, federal letters of credit, etc.).
  • Complete and submit any financial reports required by the sponsor.
  • Conduct grant close-out activities.
  • Prepare the University's federal indirect cost proposal and agreement.
  • Prepare annual effort certification forms for faculty review and approval.
  • Complete and maintain the physical inventory of federally purchased property and equipment.
  • Support the Research and Development component of the annual A-133 audit of federal programs.

Endowment and Investment Administration and Accounting

The Controller's Office is responsible for the administration and accounting of the University’s long term investments, including all endowed funds. The majority of these funds are maintained in a unitized investment pool and invested with a variety of investment managers. The Controller's Office is also responsible for developing the annual spending budgets from endowed and other invested funds which is primarily utilized to provide scholarship support to students.

Some of the services we provide include:

  • Work collaboratively with Advancement to ensure donor gifts and new additions to the endowment are classified correctly and comply with the donor intent.
  • Administer the University's endowments, investments, and spending plan according to the University's Investment Policy Statement as approved by the Board of Trustees and managed by the University's Investment Committee.
  • Initiate and facilitate investment rebalancing transactions among the various investment managers as directed by the Investment Committee.
  • Establish new investment manager accounts as directed by the University Investment Committee.
  • Assign University account numbers to new endowed gifts as received by Advancement.
  • Allocate investment activity (fees, income, realized and unrealized gains/losses, gifts) to the each individual fund on a quarterly basis based upon the overall performance on the various investment managers.
  • Provide investment performance reports at both the manager and individual fund level to University Administration and the Investment Committee as necessary.

Procedures

Gift Processing:
All gifts received by the University are processed by the Advancement Office. The recording of gifts to the general ledger is performed by the Controller's Office. Faculty or staff members of the University that have questions about gifts recorded to your department should contact Debra Gilkison at 413-782-1370 or via email at debra.gilkison@wne.edu. Current or perspective donors should contact Advancement at 413-782-1372 or via email at karen.petrie@wne.edu.

Forms

All forms need to be fillout completely and returned to the Controller's Office for processing.

Wire Transfer Form

Budget Adjustment Form

Transfer Request Form

Staff

Julie LeBeau - Interim Assistant Vice President and Controller
413-782-1293
julie.lebeau@wne.edu

Rosanne Mastrangelo - Assistant Controller
413-796-2334
rosanne.mastrangelo@wne.edu

Noel Skerry - Senior Financial Analyst
413-782-1241
noel.skerry@wne.edu

Debra Gilkison - Gifts and Pledge Clerk
413-782-1370
debra.gilkison@wne.edu

Nancy Foley - Senior Staff Accountant
413-796-2105