Sessions


Navigating the Financial Storm

Doug Chittenden, Executive Vice President and CEO of Institutional Relationships, TIAA
Ed Kania, Vice President for Business and Finance and Treasurer, Rollins College
Brian Nick, Chief Investment Strategist, Nuveen (A TIAA Company)
Glenn Richter, Senior Executive Vice President, Chief Financial Officer, TIAA
Noel Sloan, Chief Financial Officer, Texas Tech University
Anup Vidwans, Senior Managing Director, Higher Education, TIAA

Program Level: Basic

No prerequisites or advanced preparation is necessary.

The coronavirus outbreak is a fast–moving human tragedy with a growing impact on the global economy. In these uncertain times, strong leadership from the finance organization is important to secure the business today and position it well for the future. SACUBO and TIAA will provide business leaders with a perspective on the evolving situation and discuss ways to think through the financial impact of the coronavirus. You will hear from and engage with a panel of fellow business officers to gain their perspective and discuss challenges and solutions. Participants will have an opportunity to submit questions to the panel during the session.


Risk Management Resources for Your Institution

Steven T. Aldrich, Senior Vice President, Managing Director National Practices, McGriff Insurance Services

William H. “Bill” Durham, Vice President for Finance, Wingate University

John D. Lynch, SVP Education Industry Manager, SunTrust now Truist

Christopher Smith, Vice President - ARM, McGriff Insurance Services

Program Level: Basic

No prerequisites or advanced preparation is necessary.

All institutions have a fiduciary obligation to manage risk in an effort to protect the institution, students, faculty and visitors. Historically, risk management has focused on the hazard risks; damage to property, injury to others, etc. More recently, there has been a call for a more holistic approach to risk to include strategic, operational and financial risks in addition to hazard risks. This session will contain on overview of the resources available to the school and how they are used to your best advantage. We will undertake a shortened review of the Enterprise Risk Management process.

After completing this course, you will be able to:

  • Benefit from the peer institution’s experience in utilizing their broker resources.
  • Understand those risks in the other three quadrants and how to identify and quantify them.
  • Learn strategies in how to address, manage or mitigate those risks.

Moving Forward in a Changing World with Planning and Analytics

Vipul Datt, Solution Consultant, Workday

Steve Omli, Assistant Dean of Medical School Finance, UCF, College of Medicine

Marc Weyerstall, Sr., Senior Value Manager, Workday

Program Level: Basic

No prerequisites or advanced preparation is necessary.

The COVID-19 crisis has upended higher education resulting in closed campuses, largely virtual learning environments, and significant unknowns. In disruptive times, agility is everything. Learn how institutions leverage planning software to optimize resources, better prepare for change, and speed decision making by:

  • Enabling robust scenario analysis, sensitivity testing, and contingency planning;
  • Developing a single driver–based plan across the organization (deans, enrollment, faculty, endowment, research, long range planning, etc.); and
  • Increasing visibility into performance across the institution throughout the year and adjust strategic plans accordingly.

After completing this course, you will be able to:

  • Recognize the importance of developing in-year scenario analysis & reforecasts to make best decisions going forward in uncertain times.
  • Realize the benefits of a connected annual and long-range plan when preparing for recovery.

Generating New Revenue Streams in Our COVID-19 Reality: Asset Monetization, Service Bundling, and P3 Partnerships

Bray Brunkhurst, Vice President, Aramark Facility Services

Jeff Turner, Executive Vice President, Brailsford & Dunlavey

Program Level: Basic

No prerequisites or advanced preparation is necessary.

As we transition to living in a world changed by the novel coronavirus, higher education will require non-traditional revenue sources to offset expected declines in enrollment, auxiliary services, and athletics. Asset monetization provides such a source by leveraging an institution’s physical and energy infrastructure for long-term capital gain. Organizations are interested in leasing and operating these assets while continuing to provide energy to your campuses. Additional financial benefits are derived when bundled with other services, such as facilities management and dining services. A public-private partnership (P3) provides the expertise and resources for efficient, affordable changes that align with both campus needs and student demands, while securing new revenue streams. This session will explain how these P3 partnerships work and share insights for institutions to acquire capital and reduce risk.


Long-Term Focus While Balancing Short-Term Needs: The Operating Endowment

John G. Pierce, Vice Chancellor for Administration & Finance, UNC - Asheville

Eric Ralph, Managing Director, Highland Associates (a Regions Bank, Company)

Gina Terry, Chief Financial Officer, University of Arkansas System

Michael Thomas, Director of Not-For-Profit Analytics, Highland Associates (a Regions Bank, Company)

Program Level: Basic

No prerequisites or advanced preparation is necessary.

Prior to the COVID-19 outbreak, private and public Universities were already struggling with longer–term operational risks. As a result of the pandemic, campuses are facing even greater income risks, which will likely lead to greater reliance on endowment portfolios. With the investment portfolio likely needed to support operational needs, universities should balance short-term operational needs with the need for longer–term growth. A more holistic asset allocation approach should tie the endowment to the true needs of the organization. In both the immediate and longer term, it will be essential that endowment decisions are informed by and support liquidity and the ratings process.

After completing this course, you will be able to:

  • Provide a framework and context for university and college financial officers to think beyond the traditional endowment model.
  • Incorporate the entire fiscal picture of the school when thinking about managing an endowment.

Washington Update: The Latest Public Policy Developments and Implications for Higher Education

Liz Clark, Vice President, Policy and Research, NACUBO

Program Level: Basic

No prerequisites or advanced preparation is necessary.

Before the novel coronavirus crisis emerged, two of the most pressing questions colleges had for Washington policymakers were:

  • Will there be a Higher Education Act reauthorization this year?
  • Will there be more Tax Cuts and Jobs Act guidance?

Now, colleges are navigating the Department of Education’s Higher Education Emergency Relief Fund, the Small Business Administration’s Payroll Protection Program, and many more developments related to the pandemic. What else lies ahead on the legislative and regulatory landscape?

After completing this course, you will be able to:

  • Gain insight into regulatory and legislative actions that impact colleges and universities.
  • Understand what federal agency guidance means for institutions.
  • Explore the role of the business officer as a public advocate for higher education.

Financial Reporting and Accounting Impact of COVID-19

Roselle Bennoitt, Director, Cherry Bekaert LLP

Susan Maddux, Vice President of Finance and Administration, Furman University

Matthew Socha, Partner, Cherry Bekaert

Program Level: Basic

No prerequisites or advanced preparation is necessary.

In this session, we will discuss various financial reporting and accounting impacts that COVID-19 may have on institutions of higher education, including impacts from Federal stimulus programs, market volatility, revenue recognition, financial estimates, liquidity, and subsequent events. This session will also discuss issues around communication of financial information to various audiences and stakeholders during these uncertain times. Finally, there will be a brief update on Financial Accounting Standards Board (“FASB”) standards that impact institutions of higher education and related organizations and delays in implementation impacted by COVID-19.

After completing this course, you will be able to:

  • Evaluate impact of COVID-19 on financial reporting and accounting implications at your institution.
  • Discuss best ways to effectively communicate and report to stakeholders during periods of uncertainty.
  • Recognize Accounting Standard Updates (ASUs) that remain effective and those that have been delayed.

Moving Forward: Decision Making for Fall 2020

Rob Alsop, Vice President for Strategic Initiatives, West Virginia University

Chris Gardner, Chief Financial Officer, Wofford College

John Nisbet, Chief Financial Officer, Saint Leo University

Bjorn Reigle, Managing Partner, PFM

Kelli Shomaker, Vice President for Business and Finance and Chief Financial Officer, Auburn University

Program Level: Basic

No prerequisites or advanced preparation is necessary.

As Colleges and Universities are preparing to make a decision regarding in–person on–campus learning, institutions need to be adequately prepared to make such a critical decision. This panel will discuss how campuses are strategizing and preparing to make such an important decision to protect the safety of their students, faculty, and employees. The panel will discuss topics such as the use of public transportation, classroom utilization, housing arrangements, strategies with other stakeholders such as states and cities, and other contingency planning mechanisms for the upcoming academic year. Participants will have the opportunity to submit questions to the panel during the session.