Spring Resources

April 30 2021

This week the PAISBOA staff is in the countdown for the PAISBOA Annual Meeting, Fostering The Resilient Business Office Team, scheduled for Wednesday, March 5 at 9:00 am. Board Chair Carolyn Hapeman will be presiding over this event as we will hold our annual business meeting, network with our vendor partners and sponsors, announce this year’s recipient of the John Batley Award, and present a new honor, the Service to the Flock Award, to a steadfast business officer.

As we gather virtually again this year, we are so appreciative of our PAISBOA Preferred Vendors and our Corporate Sponsors who will be participating in our virtual vendor fair from 8:00 am–5:00 pm the day of the meeting. We will also hear from our generous Signature Sponsors, Armstrong, Doyle, and Carroll (ADC), and our newest PAISBOA Preferred VendorCampus Services Group during the meeting. We can’t wait to see all of you on Wednesday at 9:00 am!  Please Register HERE!

We know this is a busy time of year for all of you!  When the academic year winds down, you are gearing up with budget preparations for your June Board Meetings, end of year events, summer projects, and turning over the campus for summer programming, just to name a few. 

As you prepare your budget for the 2021-2022 academic year, if there was ever a year to start fresh, this year may be the one! Here are some resources for you to consider as you delve into your budgeting and forecasting process over the next few months:

The Corporate Finance Institute has some very straightforward information about zero based budgeting.  “Zero-based budgeting examines all expenses, traditional budgeting only examines proposed new expenses.” 

Advantages of Zero-Based Budgeting

    • Final output is justified and aligned with overall business strategy or plan
    • Encourages more collaboration throughout the organization
    • Improves performance and operating efficiency by challenging assumptions and examining expenditures
    • Better chance of making cost reductions

Disadvantages of Zero-Based Budgeting

    • Requires training and can be time-consuming and costly
    • May harm the overall culture or brand image
    • May be cost-prohibitive (because of time, research, and analysis required)
    • Tedious to start from a zero base

If you would like additional information about budgeting:

Zero-Based Budgeting: Hero or Zero?  (Deloitte) “When successful, ZBB produces radical savings and liberates organizations from entrenched departments and methodologies.  When unsuccessful, the costs to an organization can be considerable.”

An Agile Approach to Budgeting for Uncertain Times may be the answer.  “Rather than tedious templates, endless financial forecasts, haggling over targets, and battling for resources you may have the opportunity for a clean break.”

Overcoming Obstacles to Effective Scenario Planning “Scenario planning can be extremely valuable in the budgeting process, but the results can be disappointing if they are hampered by the  deep-seated cognitive biases that it should be used to address, such as anchoring, neglecting low-probability events, or overconfidence.”

All PAISBOA members have access to these members-only resources:

PAISBOA Annual Data Survey results are available to all participants right now! It is not too late to complete the 2020 general and salary surveys and access your results right away. If you need assistance, contact [email protected] and please watch the video, How to Use Your Data Survey Results from November 11 to review accessing and using the survey results.

Financial Modeling Tool: In conjunction with our colleagues from Cal-ISBOA and MISBO, PAISBOA has a customized financial modeling document that centers around best practices for forecasting and leveraging the information you already have to understand and predict what comes next. Look for your download instructions AT THIS LINK.

Zero Based Budgeting: We have collected some resources for you, and have a presentation from fellow business officers Carol Lerner (The Philadelphia School) and Lisa Carbone Warren (Moorestown Friends School).

As always, PAISBOA is listening, ready to connect with you and with other business officers, and find resources that will save you and your team time, and your school/university money. 

Don’t forget to remind your employees about the Retirement Planning Seminars sponsored, in part, by TIAA on Tuesday, May 11 at 11:00 am and Thursday, May 13 at 5:00 pm.

We continue our Monday Lunch with PAISBOA programs on May 3 at noon with Chris Joffe of Joffe Emergency Services to give us a COVID update, and to introduce you to our newest PAISBOA Preferred Vendor, Campus Services Group. See below for more details!

We look forward to seeing you Monday at noon, and at the PAISBOA Annual Meeting on Wednesday at 9:00 am!

Take Advantage of the Power of the Flock...

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