VP for Finance
As the chief financial officer, the vice president for finance (VPF) has broad and strategic responsibilities and provides significant financial, administrative and managerial support to the president. Acting under direction of the president, the VPF serves as the treasurer for the College and serves as the liaison to the audit and risk management, facilities, finance and investment committees of the Board of Trustees. The VPF oversees and is responsible for all areas of the finance division of the College.
The finance division assists the campus community in allocating the institution’s financial, physical and technology resources in an efficient and effective manner to advance the mission of Hood College. This is achieved by collaborating with other divisions to strategically utilize resources in a manner which strengthens the College’s academic programs and the students’ holistic educational experience. The division strives to provide outstanding services to the campus community while monitoring compliance with financial and administrative policies.
The division includes the following offices:
- Accounting Services develops policies and procedures, and maintains systems and internal controls to support the College’s fiscal operations; issues bills and collects the College’s receivables; pays the College’s financial obligations; prepares the College’s annual financial statements in coordination with an independent auditing firm; prepares the College’s federal, state and other miscellaneous tax returns; and provides financial reports to departmental budget managers, senior team and the Board of Trustees.
- Treasury and Budget Management maintains and provides oversight to the annual operating budget; prepares weekly cash flow analysis; manages accounting for the College’s physical plant; prepares grant financial reports and reimbursement requests; and manages endowment accounting functions to include subscription agreements, capital calls, monthly reconciliations and annual audit requirements.
- Information Technology is responsible for the proper operation and configuration of all College-owned computers, software, network equipment, telephone equipment, computer labs, and information infrastructure. Their offices are embedded within the Learning Commons alongside library staff and the student success team.
- Campus Facilities, managed by Aramark, provides custodial services, maintains the physical plant, plans and manages campus capital projects, enhances and promotes sustainable practices, coordinates events setups, advises departments on interior design and remodeling issues, efficiently manages utility usage, and is staffed by customer-focused and effective stewards of the College’s resources. Campus facilities’ staff maintains 30 buildings on 52 acres and provides services to nearly 850,000 square feet of space.
- Auxiliary Services including
- Dining Services, also managed by Aramark, operates on-campus dining services, including the main dining hall, a quick order and coffee café in the campus center, and a grab-and-go option in the library learning commons. Dining services also provides on-campus catering.
- Bookstore (now known as the Hood College Gear Shop) is managed by University Gear Shop; textbooks are managed by eCampus.
Robert C. Klinedinst
Rowela Lascolette, MBA
The PBAC is a recommending body to the president and meets at least monthly throughout the year and is responsible for:
- Reviewing short- and long-term planning priorities for the College, using assessment data and the College mission as primary references
- Reviewing planning priorities annually in light of current and anticipated needs, external conditions, trustee decisions, etc.
- Using established planning priorities to plan budget allocations
- Assessing available funding in coming years and establishing budget goals
- Evaluating expenditures from previous years based on annual assessment reports and considering appropriate increases or reductions in specific allocations
- Reviewing and assigning priorities to new requests for funding
The planning, budgeting and assessment committee (PBAC) consists of the following individuals:
- President of the college
- Vice president for finance and administration—chair
- Provost and dean of the faculty
- Vice president for enrollment management
- Vice president for institutional advancement
- Vice president for community and inclusivity
- Vice president for marketing and communication
- Director of athletics
- Two faculty members elected by the faculty—serving two year terms
- One faculty representative from the faculty executive committee
- Dean of the graduate school
- Dean of students
- Director of human resources
- Two staff representative from the staff council board
The planning, budgeting and assessment committee will be supported by the following individuals:
- Director of admission
- Director of institutional research and assessment
- Director of finance
- Second Friday of December: Capital Budget Requests Submitted to VPs
- Second Friday of January: VP Capital Priority List Submitted to VPFA
- Last Friday of January: PBAC Reviews and Approves Capital Budget
- First Friday of February: Operational KAP Requests Submitted to VPs
- Second or Third Friday of March: PBAC Starts Review of KAP Requests
The Risk Management Committee is responsible for providing oversight, guidance, and coordination of institution-wide efforts aimed at identifying, assessing, and reducing risks that may jeopardize the life and safety of individuals, and/or the assets, operations, reputation, and legal interests of Hood College. The Committee’s work centers around the enterprise risk management (ERM) principles of:
- Strategic Risk
- Operational Risks
- Financial Risks
- Compliance Risks
- Reputation Risks
The Committee shall work in concert with the Campus Emergency Response Team (CERT) to plan for and manage risks and risk related incidents in a comprehensive manner following best practices.
- Conduct a risk assessment survey to identify and rate risks based on potential impact, likelihood and effectiveness of controls.
- Develop action plans to mitigate, transfer and/or avoid identified risks.
- Assign responsibilities for managing identified risks to the appropriate individual or office.
- Review risk policies and procedures to assess their effectiveness in monitoring and managing risks.
- Recommend prevention approaches, training and education strategies, and provide guidance on implementation.
- Assess and review current response protocols.
- Review and assess annually the adequacy of this charge.
The Committee will meet at least twice a semester and more frequently if deemed necessary. Minutes will be taken at each meeting and kept on file in the VP for Finance office.
The Risk Management Committee consists of the following individuals:
- Director of Business Services (Chair)
- Director of Facilities
- Director of Campus Safety
- Lab/Chemical Safety Officer
- Director of Residence Life
- Chief Information Officer
- Executive Director of Human Resources
- Vice President for Marketing and Communications
- Vice President for Enrollment Management
- Director of Athletics
- Disability Services Coordinator
- A representative from the Wellness Center
- Two faculty members elected by the faculty (serving two year terms)
- A staff representative elected by the Staff Council (serving a two year term)
- Representative from the College’s Insurance Broker (invited as needed)
The Committee reports to the VP for Finance.
Please contact Rowela Lascolette for any questions.