1-A. What is Banner?
Banner is the computer software application for recording financial information at UNM. This software uses an Enterprise Resource Planning (ERP) architecture approach. An ERP system is multi-module transaction-based application software that helps organizations to manage the vital parts of the business. Today, more than ever, managers at all levels have a greater need for accurate, relevant, and timely financial information. As UNM has grown more complex, the reporting needs have intensified. These needs are dictated by state and federal government agencies, and the various levels of management within the institution. For fiscal managers facing today's increased financial pressures, the need becomes urgent to:
- Provide relevant information for more effective decision making,
- Exercise greater financial control,
- Upgrade reporting techniques, and
- Provide these services efficiently and at a stable cost.
Banner provides a comprehensive, efficient foundation of financial accounting record keeping and information dissemination. Banner records all accounting transactions and provides the historical data that creates financial reports, and provides online access to financial data. The system is highly flexible, with a variety of features designed to allow all levels of management and operations access to timely financial information. Banner is designed for the UNM financial structure, so you need to learn UNM financial concepts, terms and procedures in order to perform your job. With this knowledge, you will find and use your department's financial information successfully. This section will help you learn UNM's concepts, terms, and procedures. Read this section carefully to learn the concepts and terms, and to understand how certain procedures are used to manage financial information at UNM.
Financial Characteristics of UNM
The mission of the University of New Mexico is to serve as New Mexico's flagship institution of higher learning through demonstrated and growing excellence in teaching, research, patient care, and community service.
Educational Services. UNM is a state institution of higher education, and the business of UNM is to provide educational services for the people of New Mexico.
Nonprofit Organization. UNM is a nonprofit organization. This means that UNM does not make money on the educational services it provides. No investors or stockholders expect a return on their investment. Instead, UNM receives money (also referred to as funds) from various sources to provide educational services.
Sources of Funding. Many sponsors provide funds to support UNM. We call these sponsors sources of funding. Sponsors have different reasons for providing funds, so they may restrict how the funds are used. Accordingly, each source of funding is accounted for separately to ensure compliance with the sponsors' wishes. See below for sources of funding examples.
Remember: Many sources fund UNM educational services. We account for each funding source separately within your department.
Educational Services. UNM offers a wide variety of academic programs through twelve Colleges and Schools. These academic options include more than 200 degree and certificate programs, including 94 baccalaureate, 72 masters, 37 doctoral degrees and 27 certificate programs. In addition to these programs, we offer 3 doctorial professional practice programs in law, medicine, and pharmacy.
Research Services. UNM also conducts ongoing research for the public and private sector. These research projects provide educational activities for students, and serve to enhance the curriculum and instruction at UNM while meeting important research needs.
Clinical Services. UNM Health Sciences Center (HSC) provides an opportunity for all New Mexicans to obtain an excellent education in health sciences. HSC advances health sciences in the most important areas of human health with a focus on priority health needs of our communities.
Support Services. UNM provides business services to support University operations and to benefit the local community.
Sources of Funding. The following are examples of sources of funding that support UNM educational services:
- The State of New Mexico. The State of New Mexico funds most of the instruction functions. During each legislative session, the state appropriates funds for the next fiscal year.
- Research Sponsors. Both public and private organizations provide research grants.
- Donors. Individual and corporate donors contribute gifts, scholarships endowments, etc., to support specific departments, schools, or activities. These valuable sources of income help UNM expand and enhance UNM and HSC services.
- Revenue Generating Services. Some services provided by UNM generate revenue. These services are offered for a fee and typically do not depend on other sources of funds. Auxiliary services at UNM include such services as UNM Bookstore and certain entertainment events, like athletics and theatre. University Hospital (UH) and HSC clinics generate revenue for medical services rendered.
