Student Support Infrastructure Scholarship & Fellowship Administration

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

Deliverables 1. Scholarship recipient tracking (UMF) –Objectives Enhance stewardship of scholarship gifts Identify scholarship prospects –Completed November 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 Scholarship fund raising impact reporting (UMF) –Objectives Effectively measure the impact of scholarship fund raising on students Guide fund raising strategy –Start Spring

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 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 4

Financial Forecasting & Admin Scope 1.Distribute $125+ Million (U Wide) yearly 2.From all sources –3,400+ UMF funds –600+ MMF funds –500+ University Endowment funds –O&M funds 3.To the right 28,000+ students 4.Keep 14,000 donors of $33 million to UMF last year happy enough to give more 5

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

Financial Forecasting & Admin Challenges 1.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) 2.Information necessary to make informed decisions is complicated, confusing and scattered 3.Multiple steps with fiscal conservatism at each step 4.Better understand and manage available balance 7

Scholarship Forecasting & Admin Solution - Combines all scholarship information in one place 1.UMF Financial details –Available balance –Forecast earnings payout 2.EFS Financial details –Presidential Match monies –Unspent UMF monies –O&M monies –University Endowment monies 3.MMF Financial details 4.Fund MOA & documentation 5.Historical notes 6.Recipients 7.Future student commitments 8

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 9

Phase II – Enhancements 10

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 11

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 12

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