November 2025

We wish all Setonians a happy Thanksgiving surrounded by family, friends, and faith. This season offers a meaningful moment to express our gratitude to the many colleagues who have supported the ADAPT ’25 initiative and embraced Unimarket with enthusiasm.

As we pause to reflect and give thanks, the Division of Finance also shares several updates on our key initiatives.

Financial Reporting and Budget Planning
The Grant Thornton auditing team is currently finalizing their audit of the University’s FY25 year-end financial reports, and we anticipate a clean audit report once issued next month. Meanwhile, the Budget Office is preparing to begin their comprehensive mid-year budget review that will conclude in late January. This analysis will update the FY26 budget and become the starting point for FY27 budget development (see link to the FY27 Budget Development calendar here).

Student Account Management
The Bursar’s Office continues working with students to address account balances that impinge upon their ability to register for the spring semester.

Unimarket Implementation and Performance
Operationally, the successful implementation of Unimarket, the cornerstone of the ADAPT ’25 initiative, continues. Results from July 7 through November 16, 2025:

Procurement and Financial Systems statistics:

Treasury/Accounts Payable payment statistics:

As we look ahead into 2026, we’ll be testing and implementing a contracts module and an employee expense reimbursement module within the Unimarket platform.

Policy Development and Fiscal Stewardship
The Fiscal Stewardship policy is in the home stretch for approval, an updated Procurement Policy is under development, and a revised Travel and Business Expense policy is on deck.

Payroll and Year-End Preparations
Finance, in collaboration with Human Resources and Information Technology, is partnering with ADP to produce and make available 2025 W-2s (wage and tax statements). A separate notice in early December will further detail this process.

Ed Bishof
Vice President for Finance and Chief Financial Officer

Finance Open Forum: December 16 at 10 a.m. on the South Orange campus
Please join us at the last Finance Open Forum for the fall semester to receive updates on the FY26 budget, preliminary FY27 budget parameters, business processes and policies, and continued progress on the ADAPT ’25 initiative. The Open Forum will include a discussion on additional Unimarket functionality planned for early 2026 testing and roll-out.

Submission of Travel & Expense (T & E) Reimbursement Forms
Please follow the below instructions to ensure proper review and processing of Travel & Expense Reimbursement Forms (employee and non-employee) by the Accounts Payable Office. 

When submitting a T&E to accountspayable@shu.edu, please include the following information in the e-mail subject line as appropriate:

T & E for Employee: Doe, Jane
T & E for Non-Employee (International): Doe, John *
* W8 Tax Form and Bank Letter must accompany T & E’s for International Non-Employees
T & E for Non-Employee: Doe, Jane
*W9 Tax Form must accompany T & E’s for Domestic Non-Employees

Finance is developing an online expense reimbursement module for employees only. This Unimarket Travel & Expense module is expected to launch by the end of Q1 2026.  Reimbursement for non-employees will continue via the existing T & E process.

Fully approved Travel & Expense Reimbursement forms are to be submitted with all supporting documentation (for both employees and non-employees).  Supporting documentation includes original receipts, proof of payment as appropriate. A completed & signed W9 or W8 tax form for a non-employee is also required. Reimbursements will be approved for legitimate, authorized, out-of-pocket business expenses such as those incurred when on business travel or attending business-related events or for conference/workshop registration fees, and the like.

For grant-funded expense reimbursements, please submit T & E with supporting documentation to the Office of Grants Accounting at grantsaccounting@shu.edu with cc to accountspayable@shu.edu

For questions on the T & E process, please contact Accounts Payable at accountspayable@shu.edu.

Receive your pay / expense reimbursements electronically!
Start off the new year saving some paper by moving to Direct Deposit, which provides employees with a safe, timely and convenient way to receive their pay as well as their business expense reimbursements. Visit the Direct Deposit webpage.

Reminder for the Holiday Season
In this season of thanks and gratitude, we are grateful for the funds entrusted to us, especially those from tuition and fees paid by our students and their families. Please be reminded that university funds (regardless of funding source) are not allowed for holiday gatherings, holiday meals, gifts, donations, etc.

Contact Information:
Division of Finance
Bayley Hall, 2nd Floor
OfficeoftheCFO@shu.edu