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Student Support Infrastructure Scholarship & Fellowship Administration

Student Support Infrastructure Scholarship & Fellowship Administration. Background. University of Minnesota Scholarship Drive: Promise of Tomorrow Results Student Support Brainstorm. Deliverables. 1. Scholarship recipient tracking (UMF) Objectives

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Student Support Infrastructure Scholarship & Fellowship Administration

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  1. Student Support InfrastructureScholarship & Fellowship Administration

  2. Background • University of Minnesota Scholarship Drive: Promise of Tomorrow • Results • Student Support Brainstorm

  3. Deliverables 1. Scholarship recipient tracking (UMF) • Objectives • Enhance stewardship of scholarship gifts • Identify scholarship prospects • Completed November 2010 2. Scholarship financial forecasting and administration (U Wide) • Objectives • Organize scholarship financial information to simplify the award administration process • Optimize fund utilization • Phase I (Financial) Completed May 2011 • Phase II (Multi Year Scholarships; Planning Sandbox, Automated transfer) Summer 2011 • Phase III (Award Process tools) Summer 2011 3. Scholarship fund raising impact reporting (UMF) • Objectives • Effectively measure the impact of scholarship fund raising on students • Guide fund raising strategy • Start Spring 2011

  4. Scholarship Recipient Tracking • Recent Recipients (2002 – present) • Electronic records on PeopleSoft • University wide 105,000 recipients • Existed 57,000 • Added 48,000 • 85,000 addresses • 97,000 email addresses • 80,000 phones • UMF funded 26,000 recipients • Older Recipients (prior to 2002) • Paper records scattered throughout the University • Test case – Office of Student Finance • Manually linked 1,000 recipients (1955 – 2002) to 60 UMF funds

  5. Financial Forecasting & Admin Scope • Distribute $125+ Million (U Wide) yearly • From all sources • 3,400+ UMF funds • 600+ MMF funds • 500+ University Endowment funds • O&M funds • To the right 28,000+ students • Keep 14,000 donors of $33 million to UMF last year happy enough to give more

  6. Financial Forecasting & Admin Process Phase I Phase II & III

  7. Financial Forecasting & Admin Challenges • Hundreds of scholarship administrators • For most this work is “other duties as assigned” • No formal or systematic training • Requires both financial & award coordination skills • Administrative responsibility is not standard and exists at all levels (college, department, fund) • Information necessary to make informed decisions is complicated, confusing and scattered • Multiple steps with fiscal conservatism at each step • Better understand and manage available balance

  8. Scholarship Forecasting & Admin Solution - Combines all scholarship information in one place • UMF Financial details • Available balance • Forecast earnings payout • EFS Financial details • Presidential Match monies • Unspent UMF monies • O&M monies • University Endowment monies • MMF Financial details • Fund MOA & documentation • Historical notes • Recipients • Future student commitments

  9. Scholarship Administration Next Steps • Phase I – Financial Administration • Validate financial details • Continue iterative development • Roll out by college • Phase II – Planning Sandbox • Manage multi year awards • Model award levels • Match program forecasting • Automate Foundation(s) to University transfers • Phase III – Award Process • Tools to help match students to scholarships

  10. Phase II – Enhancements

  11. Scholarship Access & Roll Out • Access controlled by OSF • At the DeptID level • File ARF (U of MN Access Request Form) • DMS User Agreement • College by College roll out • Managed by OSF • Training materials to follow

  12. Scholarship Fund Raising Impact Reporting • Current limitations • Limited to reporting monies disbursed from UMF funds • No linkage to students • Potential usage • Disbursements from UMF funds AND • Students receiving funds

  13. Questions?

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