Monthly newsletter from the Division of Finance.
Division of Finance Monthly Update |
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As the calendar shortly turns to April, we enter the last quarter of Fiscal Year 2026. Finance is monitoring the university’s revenue against overall expense commitments targeting a break even result by year-end.
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Financial Reporting and Budget Planning
The FY26 Fiscal Year End Close-Out Calendar will be distributed shortly. The Budget Office is working with Executive Cabinet modeling FY27 budget parameters. See link to the FY27 Budget Development calendar here. The FY27 budget will incorporate strategic plan initiatives with a particular focus on Priority 5: Sustainable Resources which calls for enhancing efficiencies and increasing revenue streams. Budget questions are to be addressed to Frank Genova, Director of Financial Operations at francis.genova@shu.edu.
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Business Travel
The use of CTP’s “Lightning Tool” for individual travel remains available as we continue to research other viable alternatives.
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The selection of a more robust Expense Reimbursement platform is being assessed; employees are to continue with the current “T & E” process for reimbursement of their business expenses.
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Unimarket Marketplace Performance
Results from July 7 through March 22:
Procurement & Financial Systems statistics:
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- $102M in Purchase Orders released (11,648 POs)
- 2,273 suppliers connected, increasing daily
- Average cycle time from requisition ‘checkout’ to issuing the PO is 2.5 days
- Total number of users: 795
- Total number of buyers: 394
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Treasury/Accounts Payable payment statistics:
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- 8 forms of payment options available to suppliers
- 7,629 payments to suppliers totaling $126M reflecting over 20,610 invoices
- 2,867 student refunds totaling over $9M
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Internal testing of the Contracts module of Unimarket continues with implementation taking a phased-in approach in the spring. Until further notice, contracts are still to be processed through ESM.
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A reminder that if a department would like to schedule a Unimarket “Check In” meeting, please contact Serena Branson at serena.branson@shu.edu.
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Policy Development
A comprehensive Procurement policy has moved into its initial review stage, and a revised Travel and Business Expense policy is actively in development with the expectation for both policies to be released by the end of FY26.
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Ed Bishof
Vice President for Finance and Chief Financial Officer
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Division of Finance Open Forum
Please join us Wednesday April 15 at 3 p.m. for the Spring 2026 Division of Finance Open Forum. Register here.
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Pirate Gold Cash Deposits: Bursar’s Office
Typically, students access their Pirate Gold accounts online 24/7, where they can conveniently make deposits to their account using a debit or credit card. Effective April 1, students who need to make a cash deposit to their Pirate Gold account must do so in person at the Bursar’s Office in the Division of Treasury located on the first floor of Bayley Hall (building #34 on the Campus Map) during the university’s regular hours of operation. Students have been made aware of this office/building location change in a bulletin issued to them earlier today.
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