Monthly newsletter from the Division of Finance.
Division of Finance Monthly Update |
|
|
|
We welcome the community back for the Fall ’26 semester. Over the summer, the Finance Division has been busy with FY26 closeout and FY27 budget, and preliminary FY28 planning. See more on these topics below.
|
FY26 Financial Close-out
Throughout July and August, Accounting has been examining FY27 payments requiring an accrual entry moving the expense back to FY26. This process has now concluded, and preparation of the annual financial statements is now underway. Grant Thornton, the university’s external auditors, have begun their FY26 audit field work.
|
FY27 Budget Status
With significant input from Executive Cabinet, FY27 operating budgets have been established in Banner Finance. The operating budget totals $346.2M. The Office of Budget & Financial Systems has developed and is now distributing operating budget management reports to Deans and Division Heads to assist in managing these budgets. Restricted gift budgets, capital project budgets and sponsored research budgets have also been established.
|
FY28 Planning
A detailed FY28 budget calendar is being developed for management review. The goal is to begin the FY28 planning process later this fall.
|
Unimarket
Our new procure-to-pay platform completed year one, generating over 16,000 purchase orders exceeding $135M while establishing almost 2700 vendors. As we begin year two in Unimarket, please be reminded that with proper planning accompanied by timely use of Unimarket, all procuring and subsequent payments to suppliers / vendors is to be conducted with the establishment of a ‘standard’ and/or ‘blanket’ PO in Unimarket
before the business need is fulfilled.
|
The Unimarket Contracts module is undergoing final internal review prior to expected phased rollout over the next few months. Until otherwise notified, contracts are still to be processed through ESM.
|
Ed Bishof
Vice President for Finance and Chief Financial Officer
|
|
|
|
Upcoming Fall Finance Events
|
Supplier Showcase
October 28 from 11:30 a.m. to 2:30 p.m. Event Room, University Center
Join the Division of Finance at the Fall 2026 Supplier Showcase which will bring a variety of suppliers to campus to showcase products, services and resources available to the University community. Employees involved in purchasing or who oversee purchasing on behalf of their department are encouraged to stop by, connect with suppliers, and learn more about what’s available.
|
Fall Finance Open Forum
November 17 at 10 a.m. Chancellor’s Suite, University Center
The campus community is invited to attend the Finance Open Forum to receive updates on the FY27 budget, preliminary FY28 budget parameters, and continued progress on business process improvements.
|
|
|
|
|
