2024 Fall Workshop Concurrent Sessions 8

November 1, 2024 | 10:50 AM - 11:40 AM

Accounting Track 8 | Concurrent Session 8A | Concurrent Session 8B
Concurrent Session 8C | Concurrent Session 8D

Accounting Track 8: How to Prepare for Your First Audit

Description

Presented tag-team style by an auditor and an accountant with 16 years of industry experience, this session is designed to address what to expect in an external audit and how to best prepare. We outline how all the audit puzzle pieces fit together for higher education, what deliverables an entity will receive, audit terminology commonly used by auditors, and the best ways to equip an entity for the best possible outcome. Even experienced auditees may find something new to take back to their preparation process.

Learning Objectives

Gather practical tips for audit and single audit preparation
List terminology that auditors use
Recognize key takeaways from audit deliverables

Speakers

Alyssa Roussea, Senior Manager, Forvis Mazars

Alyssa is a member of Forvis Mazars’ Nonprofit, Higher Education and Public Sector practice. She provides audit and accounting services to nonprofit organizations including private schools, universities, health and welfare organizations, foundations, and governmental entities. Many of which report under the Uniform Guidance. Alyssa is a current instructor for the firm’s new hire, intern and level trainings, where she has the responsibility of instructing those new to the firm as well as those progressing throughout their careers with Forvis Mazars.Alyssa is a member of the America Institute of CPAs and Texas Society of Certified Public Accountants.She currently is serving as the president for Austin-San Antonio Chapter of the firm’s charitable foundation, where she coordinates volunteer events with and support for many organizations including the San Antonio and Texas Food Banks, Ronald McDonald House, BIG Love Cancer Care and Girls on the Run. In 2024, Alyssa was the American Heart Association’s Woman of Impact for the Austin chapter.She is a 2015 graduate of Baylor University, Waco, Texas, with a M.Acc. degree.

Concurrent Session 8A: Mastering Zero-Based Budgeting: A Strategic Approach to Financial Management in Higher Education

Description

Zero-Based Budgeting (ZBB) is a strategic budgeting approach that has gained recognition for its potential to optimize resource allocation and cost management in higher education institutions. In this workshop, we will explore the fundamental concepts of ZBB, its application in the context of colleges and universities, and the potential benefits it can offer to educational institutions. Participants will learn the key steps to implement ZBB successfully, including:

Understanding the ZBB Philosophy: We will discuss the core principles of ZBB and how it differs from traditional budgeting methods.
Identifying Decision Units: Participants will learn how to identify and structure decision units within their institution, facilitating a granular examination of budgets.
Prioritizing Programs and Activities: We will guide attendees in the process of prioritizing programs and activities, allowing them to make informed budgeting decisions.
Establishing Accountability: Participants will learn how to assign ownership and accountability for budget decisions and monitor performance.
Building a ZBB Framework: We will discuss the development of a ZBB framework tailored to the unique needs and goals of higher education institutions.

Learning Objectives

Understand the principles and benefits of Zero-Based Budgeting.
Gain the skills to prioritize programs and activities effectively.
Learn how to establish accountability and monitor performance.

Speakers

Matthew DeTemple, Assistant Dean, Nova Southeastern University Law School

Matthew DeTemple is a seasoned finance and strategic planning professional with over 15 years of financial, consulting and management experience. He’s worked both in K-12 and higher education throughout his career and has expert level knowledge of school finances and business practices.He is a data-driven leader with capabilities within financial analysis, management reporting, project management, and research expertise.Matthew's prior experience at Accenture LLP is strongly related to this project. Matt already a financial management expert supported the western region account planning efforts specific to higher education, K-12, and local government. He provide detailed summaries of funding streams, RFPs, and forthcoming legislative efforts, to provide a national leaders a perspective on the addressable market. Currently serving as the Assistant Dean and Chief Financial Officer at Nova Southeastern University since 2022, Matthew is the financial and administrative leader for the Division. He plays a pivotal role in developing and executing the division's multi-year strategy and financial plan. His contributions include advising on organizational restructuring, developing new operating practices aligned with industry best practices, overseeing all financial management aspects, and introducing innovative financial reporting and cost analysis tools.

Concurrent Session 8B: The Ghost of Payments Past: Why Physical Checks Are (Still) a Growing Problem in Higher Education

Description

This presentation will dive into why physical check payments represent a large (and in some cases growing) risk to Universities and their student families. Banks reported 680,000 incidents of check fraud in 2022, nearly 2x the number reported in 2021 (source: FinCEN. The USPS inspection service reported 300,000 complaints of mail theft in 2021, greater than 2x the level in 2020 (Source: US Post Office of Inspector General). Yet, because a lot of payment methods are still reliant on physical checks and manual processes, the higher education industry in particular is still subject to large physical check volume.We will focus on two fast growing forms of payment, 529 Payments and Private Scholarships, that are great examples of this trend. We will dive into why the current state for these payment methods create unnecessary manual workflows for bursars, lead to more questions/inbound call volume from student families, and represent a security threat to all parties involved.You will leave the session with a detailed understanding of:(1) Direct issues with physical checks as a payment method.(2) The negative, indirect ripple effects of Physical Checks, including manual workflows, delayed and dropped enrollments, stress and confusion from student families, and security issues.(3) How some of the fastest growing methods of payment (529 and Private Scholarships) are still predominantly paid via physical check and what this means for physical check volumes.(4) New, bleeding edge payment methods that, when paired with powerful software, can obfuscate the issues surrounding physical checks without pushing student families into fee heavy options (e.g. Pay by Bank).(5) How St. Edwardʼs University is working with Backpack to address physical check growth and the value it has for both the Business Office and Student Families.

Learning Objectives

Gain a better understanding of the risks and security implications surrounding physical check and paper form based payment processes
Identify where there are "quick wins" in your current processes and payment methods to improve security and reduce risk for your University and student families
Understand how you can leverage Backpack's platform to meaningfully reduce risk and improve operation efficiency in 529 and Private Scholarship payments

Speakers

Callum Bedos, CEO, Backpack Payment Technologies, Inc.

Callum is an experienced founder and executive having worked in financial services and fintech for over a decade. Callum is the Founder and CEO of Backpack, an education payments and software company helping Universities improve operational efficiency for their most complex and manual payment methods/processes, particularly for 529 payments. Prior to founding Backpack, Callum served as CFO of a financial services and payments company in New York.Notably, Callum spent seven years as a business and product leader at SoFi, which is where he developed his passion for helping student families navigate and improve the education payments, savings and loans systems. Callum led Capital Markets, International and Corporate Development (M&A) during his time at SoFi, including launching products such as international brokerage, in-school student loans, SoFi Bank and leading SoFi's IPO process. Callum started his career in Sydney, Australia (his home town!) first in Investment Banking and then Management Consulting.

Peter Beilharz, Director, Student Accounts, St. Edward's University

Peter Beilharz has over 30 years of experience in higher education finance, specializing in student accounts and financial aid. As the Director of Student Accounts (Bursar) at St. Edward's University in Austin, Texas, since 1998, Peter manages daily operations, accounts receivable, and compliance with financial regulations. He has driven numerous initiatives focused on process automation, financial transparency, and student support.Since 2014, Peter has utilized Ellucian Banner and TouchNet Information systems to manage complex financial processes and ensure the seamless integration of student financial services. He has also served as a product advisor and beta tester for several vendors, offering his expertise to help shape improvements in financial technology over his career.With more than 11 years of experience in financial aid as an Assistant Director of Financial Aid and Financial Aid Advisor, Peter brings a broad perspective to student financial services, integrating both financial aid and student accounts to better serve students and families.Peter holds an MA in Human Services Administration and a Bachelor of Arts from St. Edward's University. His leadership extends across the university through his participation in committees related to data standards, security access, and ERP advisory. He is recognized for his excellence in process optimization, customer service, and financial technology. He actively contributes to university-wide committees and initiatives, ensuring operational excellence and innovative solutions.

Concurrent Session 8C: Sugar and Spice and Everything Nice (With a Dash of Salt, as Needed)

Description

The many hats required to be worn by today’s Business Officers mandate a ‘core’ of soft skills to effectively manage teams, communicate with students/families, Administration and other campus colleagues and meet University efficiency goals. Understanding the role Emotional Intelligence plays in the workplace is crucial to both providing customer service in an exceptional manner and creating a work culture that staff want to remain a part of. The ability to resolve conflict is paramount to not only success, but also to enjoying the job. This session will equip attendees to move the needle from acceptable management to exceptional management.

Learning Objectives

Equip staff with vital skills such as time management, organization, and effective communication tools.
Resolve conflict between colleagues.
Re-imagine customer service in an automated world

Speakers

Jackie Park, Director of Student Accounts, Coastal Carolina University

Jackie Park is a Certified Public Accountant that has been serving in the role of Director of Student Accounts at Coastal Carolina University since 2018. Prior to joining the field of Higher Education, she founded and operated a public accounting practice for over 20 years. Jackie has also worked in a Controller role for a country club in the past and enjoys the opportunity to be involved in all aspects of the financial and customer service matrix of an entity. She has presented continuing education classes on both Ethics and QuickBooks and also enjoys her current role allowing her to be involved in Orientation presentations to incoming students of CCU. She has been married for over thirty six years and is the proud mother of two adult children and "Gran" to her one year old granddaughter, Lily.