Davidson College Business Services

Strategic Goals for the Year Ending June 30, 2008

Accounts Payable:

• Centralizing voucher/invoice entry to ensure compliance with sales tax laws and refund of all eligible sales tax.

Banking:

• Issuing a request for proposal within the next 18-24 months to review banking relationships (two-year horizon)
• Considering implementation of purchasing cards to take advantage of rebates and gain access to on-line administrative tools (two-year horizon).
• Research “one-card” possibility in partnership with with Cat Card Services

Budgeting:

• Developing comprehensive budgets to include all recurring and non-recurring programs/events
• Budgeting of additional monies for planned major maintenance and debt service (especially for any new debt issuances) in light of elimination of special endowment draws.
• Allocation and reallocation of college reserves to meet financial aid and other strategic needs of the college.
• Expanding the capital budget to capture all necessary capital projects, especially for programmatic changes.

Cash Management:

• Report on short-term investments to Audit & Budget Committee at October meeting, including discussion of investing in quasi-endowment or other investments.

Communication/Web Sites:

• Reviewing and updating all pages on Business Services web site

Copying and Binding:

• Continuing to meet with campus customers to understand their needs and the adequacy of our technology to meet those needs. Also, regularly considering outsourcing where that results in better quality or pricing.

External Audits:

• Enhancing policies and procedures to address new accounting and auditing standards, including:

1. Revised post-retirement medical benefits
2. Proper valuations of alternative assets
3. Compliance with more rigid requirements for internal controls.

• Obtaining competitive bids for the post-retirement benefits actuarial calculation

Internal Audits:

• Following up to ensure Physical Plant has implemented all enhanced controls resulting from the March/April 2007 E&Y internal “audit” process, and reporting to the Audit and Budget Committee at the October 2007 meeting.
• Determining next area of internal audit for project in winter/spring 2008.

Mail services:

• Continuing education of and consulting with campus customers, including designers of mailings, to ensure cost effective compliance with the new USPS postal rate structure

Payroll:

• Continuing to enhance seamless payroll processing with Human Resources through work-flow documentation, communication, cross training and a shared vision.

Post Office:

• Obtaining 100% accuracy with accountable mail to comply with USPS mandated goals

Purchasing:

• Performing quarterly reviews of Davidson’s core supplies list for inclusion of all high-volume items and best available pricing.
• Negotiating preferred terms for Davidson students and employees with new cellular partners, while focusing on smart phones and international travel.
• Coordinating with Physical Plant the automated interface of their work order management system with Banner.
• Investigating strategic implementation of the Banner Purchasing and Inventory modules in tandem with Maximo

Student billing:

• Maintaining our high level of personal touch with parents and students while investigating electronic billing and on-line payments.
• Finding the lowest pass-through “convenience fees” to allow parents to use credit cards for tuition and fee payments.

Strategic Planning and Policy Development:

• Keeping the current strategic plan updated and visible while developing a revised plan in accordance with the upcoming college-wide planning process.
• Getting Presidential/PES approval for an enhanced contract signing policy that defines limits for signing authority
• Work with college counsel to develop a standard contract template for Davidson College to use with speakers, performers and outside groups (two-year horizon).
• Assisting in minimizing and, where possible, eliminating interdepartmental charges from Physical Plant

Taxes:

• Maintaining compliance with Unrelated Business Income tax reporting and payments as well as international tax filing requirements on increasingly more diversified endowment investments.
• Meeting the challenges of mandatory IRS electronic filing requirements and updated 990/990T forms.
• Maintaining ongoing communication related to the tax treatment (classification as employment versus scholarship activities) of student summer activities (e.g. working with faculty on research projects) among Payroll, Accounts Payable, HR, RLO, Grants & Contracts, Student Life and Academic Affairs.
• Ongoing monitoring and possible updating of the college’s cell phone policy.