Office of Administration Learning Series
Are you interested in what the financial statements can tell you about what happened at the university last year? I would like to invite you to join me for an in depth look at the university’s financial status through the lens of the 2018 financial statements.
Together we will walk through the 2018 financial statements, specifically focusing on teasing out the impacts of our complex organization and accounting rules changes to get to the bottom line messages about the financial status of the university.
Financial statements provide a historical record of financial results based on a common set of rules for reporting. This makes them an important document of record. They can also present challenges in interpreting what is relevant to everyday operation.
I also encourage you to read this in-depth review, prepared by SBU’s Office of Governmental Relations that outlines how the recently passed New York State budget for next year will impact Stony Brook. Key takeaways include:
• SUNY will receive an advancement of funds that will cover one year of retroactive
pay for contractual salary increases. Stony Brook will
receive about $9M of this money. While helpful, because there was no increase in base aid available for campus operations, Stony Brook
will still be left with a gap of about $24M in salary costs.
• The budget fails to provide a restoration of $78.6M in operating aid for Stony
Brook Hospital, Downstate Medical Center, and Upstate
Medical University. Stony Brook Hospital would have received $34M of that amount. This means that the state funded operating money
for the three SUNY hospitals has been zeroed out. We continue to work with SUNY to find some relief from this cut.
• The capital component of the budget is reportedly not finished, and we continue
to work with key leadership regarding securing
additional funds for a new Engineering building.
Kathleen M. Byington
Senior Vice President for Finance and Administration
Environmental Health and Safety - Presented on April 24th at 1:00pm, for a discussion and participant-driven session of the top 5 topics you need to know about Environmental Health and Safety at Stony Brook:
• Hazardous and Universal Waste disposal
• Accident reporting and investigation
• Safety Training
• Integrated Pest Management
- A high level overview of the NY State and Research Foundation purchasing processes, including discussion of the importance of competition in purchasing. Discussion about the University's Procure-to-Pay System WolfMart.
- A discussion of the different types of purchases and the differing approval and documentation requirements that apply based on the value of the purchase
- Purchasing Do's and Don't's
- Rules and regulations related to Purchase Order, Contract and Non Encumbered payments for both State and Research Foundation
- High level overview of the Travel rules and regulations related to employee and non-employee reimbursements for both State and Research Foundation
- Overview of the following programs; State Procurement Card, Individual Travel Account, Non-employee Travel Account and Research Foundation Business Travel Account.
In case you missed it, or need to review, click here for the Powerpoint presentation.