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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 during the fiscal year no later than the fifth business day following the prior calendar month-end.  Once each month is closed, account balances should be verified and reconciled as necessary. After the prior month has been closed, all pending transactions in the current month will be posted and available for viewing in Finance self-service.

Colleague Self-Service:

All general ledger account balances and transactions are available in the Financial Management module of Colleague self-service.  Users with access to Finance self-service may have access to either Budget to Actuals or Projects Accounting in self-service.  Budget to Actuals can be used to view account balances and transactions for both operating and non-operating funds. Operating funds (Fund 10) are best viewed in self-service using the My Cost Centers view.  Non-operating funds are best viewed in self-service using the Object View.  The Projects Accounting module should be used when viewing any balance or activity associated with an external grant or a capital project.

Finance self-service can be accessed through the self-service tile available through Connect2U or directly via the following link: self-service.

Requests for Finance self-service access should include the approval of your Vice President or Dean and then should be forwarded to the Controller’s Office email address (co376745@wne.edu) for review and processing.

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 for 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
  • NACUBO Tuition Discounting Survey
  • NACUBO Student Financial Services Survey
  • Integrated Post Secondary Education Data System (IPEDS)
  • Department of Education (DOE) Equity in Athletics Survey
  • National Science Foundation (NSF) Higher Education Research & Development 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 Controller's Office 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
  • Federal Form 990-T – Exempt Organization Business Income Tax Return
  • Various trust and information returns as required
  • State of Massachusetts (Attorney General’s Office): MA Form PC.
  • 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 tax 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 please contact the Controller's Office.

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 other University pre-award liaisons to assist faculty with any pre-award or post-award issues pertaining to applying for or managing external grant funds.
  • Review proposal budgets for compliance with University and sponsor guidelines.
  • Assign University account and project 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 as requested.
  • Manage access to the Projects Accounting module within Colleague Finance self-service to ensure that faculty investigators and designated administrative personnel can view and manage their grants.
  • 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 upon grant expiration.
  • 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 Uniform Guidance audit of federal programs.

Grant forms and resources

Grant Policy Manual
Grant Proposal Budget Template and Routing Form
Link to Financial Conflict of Interest Policy Applicable to Faculty Investigators
Federal Indirect Cost Rate Agreement Effective July 1, 2021
External Grant Proposal Routing Procedures via Email
External Grants and Project Accounting in Colleague Finance
Accessing Projects Accounting in Colleague Self-Service
Project ID Configurations in Colleague Projects Accounting

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.

Forms

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

Wire Transfer Form

Transfer Request Form

Staff

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

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

Kim Puzzo - Director of Budget Planning & Management
413-782-1390
kim.puzzo@wne.edu

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

Diane Donovan - Senior Accountant
413-782-1238
diane.donovan@wne.edu

Nancy Foley - Senior Staff Accountant
413-796-2105
nancy.foley@wne.edu