Division of Finance Monthly Update |
|
|
We extend our congratulations to the Class of 2025 – and we welcome them as newly minted Seton Hall Alumni!
|
|
|
With another successful academic year drawing to a close, the Finance Division is preparing for the close of the current fiscal year (FY25) and continuing with the planning and preparation for the new fiscal year (FY26).
|
FY25 is on track to close with a balanced budget and while Fall 2025 enrollment predictions remain on target, the overall financial forecast for next year portends challenges facing almost all institutions of higher education (i.e., federal and state funds remain a moving target, potential impact of revenue sharing on Big East and other Division I schools, etc.) and Finance is taking these challenges into account by modeling several budget scenarios for next year.
|
Turning to the ADAPT ’25 initiative, we are excited to report that Unimarket will begin a “soft” Go Live next week. Six Seton Hall Divisions, serving as Pilot Groups of this new technology, have been trained and are becoming comfortable using Unimarket during its final stage of testing. When these six divisions go live next week, they will start to use Unimarket in its official “production” state with authorization to enter FY26 purchases.
|
Training for the rest of the university community is in the midst of being scheduled and will be tailored to each division. Training begins on May 28 and will continue through June. After each division/area has been trained, they will “go live” approximately one week later. As of July 7 (which is when the operating budget for FY26 will become available), Unimarket will be operational university wide.
|
Keeping Unimarket on track was not without a few hiccups as can be expected with a project as revolutionary, massive and intricate as this new eProcure-to-Pay system. We thank the many colleagues throughout the Finance Division as well as the beta-testers in the Pilot Groups for their help, their support and their willingness to not be afraid to “break the system” while in test mode.
|
The launch of Unimarket re-prioritized the review of business policies focusing on those relevant to fiduciary responsibility, procurement, contracts & leases, and bidding taking priority and moving into the development and revision stage.
|
The Unimarket platform, housed on PirateNet and made available to appropriate University employees as authorized by division heads, includes a robust and easy to navigate resource center giving end users a “one stop experience” for both using Unimarket and for finding a quick answer to a question all within the same place. The resource center also includes a link to Unimarket’s website for more information and knowledge articles.
|
In addition to the Unimarket Resource Center, the Offices of Procurement and Financial Systems are on standby at all times to help → to jump on a TEAMS call to guide an employee for when they might get “stuck” or they are unsure of what to do next. Procurement is the ‘face’ of Unimarket and is the operational lead for Unimarket while Financial Systems is the technical lead for Unimarket, addressing and solving technical and configuration issues.
|
If your division/area has not yet been contacted to be scheduled for Unimarket training (to be delivered in-person and on site in your area), please contact Serena Branson in the Office of the CFO at serena.branson@shu.edu.
|
Questions / suggestions / concerns on Unimarket and other Finance initiatives?
Contact us at: OfficeoftheCFO@shu.edu.
|
Ed Bishof
Vice President for Finance and Chief Financial Officer
|
|
|
Browser: An employee authorized to shop in Unimarket and place items in their shopping cart but cannot complete the purchase / commit the funds. Browsers will reassign their shopping cart/purchase requisition to an appropriate Buyer.
|
Buyer: An employee authorized to shop and buy, to complete the purchase requisition and “check out.” Buyers have budget authority to complete the purchase.
Note: a Buyer cannot approve their own purchase.
|
|
|
|
