FY19 Allocation Increase Request Form
Unit: Finance & Business Auxiliaries
Budget Owner:
Patrick Stanton Budget Owner E-mail Address: Stantonp@Cwu.Edu FY19 Allocation Increase Amount: $111,578
One-time
XContinuous
All requests should also include a full itemized budget breakdown for the previous 3 years as well as the forecasted budget for FY19. These will be provided to you by January 10, 2018. Requests shall be no longer than 5 pages, not including the required budget breakdown, the forecasted FY19 budget or the required cover sheet. Completed Budget Summit PowerPoints, Budget Reports and Allocation Increase Requests are due to Linda Hoff by 5:00p.m., January 26, 2018. 1. What will the funds be used for? The Funds Would Be Used To Hire Two Staff Members At The Fiscal Analyst 2 Job Classification. The Salary Costs Per Employee Are Anticipated To Be $42,264 Annually (Range 44), Plus Benefits Of Approximately $13,525, Each. The Rational For This Requested Increase In Staffing Is As Follows: The Most Recent Benchmarking For The Finance Function At Cwu Was Preformed By Mcgladry Llc In 2015. The Source Of The Benchmark Data Was The 'American Productivity & Quality Center' (Apqc) Which Is The Leading Source Of Financial Service Benchmarks. The Benchmarks Used Were Higher Education Specific. (See Attachment #1 Mcgladry Report - Page 42) The Benchmarking Study Indicated That, For An Institution Of Our Size, Finance Ftes And Cost Per Finance Fte Were Both Below The Industry Average. The Median Number Of Ftes In The Finance Function Was 38 Fte While Cwu Has 23 Fte. This Is A Good Situation For The Overhead Cost Burden Of The University, But There Is Risk In This Situation. Over The Years Situations Have Arisen At Cwu, Just Like Every Organization, That Should Have Been Avoided. These Are Things That Could Generally Be Termed 'Financial Irregularities' Or 'Failures Of Internal Controls'. When These Situations Occur, Resources Are Lost, The University Looks Bad, The People In The Workplace Suffer Stress And Some Lose Their Jobs. In Most Cases These Situations Can At Least Be Minimized By Proper Internal Controls, Monitoring And Segregations Of Duties. In Many Ways When Something Like This Happens It Is Not Just That An Individual Has Failed And Done Something Wrong, The University Has Also Failed To Protect The Individual From Themselves And Failed To Protect The Resources And/Or Assets.
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