José F. Méndez Dr.hc

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Vice Presidency ofFinancial AffairsSmart strategies keepthe university system strongAlfonso L. DávilaIn these difficult and uncertain times, the VicePresidency for Financial Affairs has pursuedresponsible and smart strategies to strengthenAGMUS’ finances. During 2009-2010, operationalrevenues increased and expenses were controlled inorder to improve the institution’s financial condition.Contributing to this accomplishment was thecoordination achieved by the Financial Affairs VicePresident with the VP for Human Resources and theVP for Administrative Affairs to keep close watchon the system’s operations. This is significant whenconsidering that the two vice presidencies accountfor 80 percent of the institution’s budget; salaries andplant maintenance make up 80 percent of expenses.In addition, a Permanent Financial Committee metmonthly with AGMUS’ president to keep projectedexpenditures on target.Striking a balance between providing the bestuniversity education to its 42,000 students and makingAGMUS a cost-effective operation comes down tomanaging resources smartly. Technology has made itpossible for the Vice President for Financial Affairs toknow what is spent, down to the penny, on a daily basis.In the past year, the financial affairs team has builtawareness among the university system executive staffand key personnel about AGMUS’ need to maximizeresources and lower costs.During 2009-2010, operational revenues increased14 percent over the previous year, due in part to anincrease in tuition and registration fees as well asto growth in student enrollment during the year,particularly in the summer term, fueled by theintroduction of the year-round Pell grant. Externalfunding, mostly federal grants, were up over the prioryear. Meanwhile, expenses rose a stable 8 percent, asa result of increased costs in fringe benefits and plantmaintenance. To improve collections and accountspayable processes, a change in the supervising structureof the Vice Presidency was implemented. These twooffices are now under the Controller’s Office.Prudent management enabled excellent financialresults at year-end. The investment portfolio grew$4.4 million in value over the prior year, totaling$41.3 million at year end. An Investment Committeecomposed of the main administrative areas; Finance,Human Resources and Administrative Affairs,and chaired by AGMUS’ President, oversees theperformance of the endowment.42
To continue to pursue the improvement of ourfinancial condition, the Vice Presidency for FinancialAffairs, is in the process of implementing a Cost andFinancial Reporting System (datamart) to facilitatecost analysis of the academic programs and universityprojects and activities. This will provide valuableinformation to establish financial guides for thedevelopment of the institution. The outcome willmaximize the allocation of resources when structuringnew programs and projects.The Vice Presidency for Financial Affairs alsooversees the information technology (IT) division. Thisarea is dedicated to serving the needs of students,faculty and administrators. Providing studentswith the latest technology has meant continuouslyupgrading equipment and quality of services. Inkeeping ahead, AGMUS is implementing a web portalknown as “myCampus” to provide electronic servicesto students at UT, UMET and UNE.Both resources, technology and financial dataanalysis, administered by the capable staff of theVice Presidency for Financial Affairs, will enable theachievement of SUAGM’s ambitious goals.43
Page 2 and 3: Annual Report 2009-2010AGMUS
Page 4: From low tech typing coursesto high
Page 10 and 11: Message from the ChairIn fulfilling
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Page 20 and 21: Institute for Public PolicyA public
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Page 24 and 25: Vice Presidents & ChancellorsManagi
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Page 75: General InformationAna G. Méndez U

José F. Méndez Dr.hc

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