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Press Releases

ORANGE, CA – Sept. 6, 2018: As higher education institutions plan for the future, chief financial officers must balance their strategic plans and spending projections against the projected growth and composition of their endowment.Chapman University has created a prospective view of this balancing act by utilizing sophisticated financial modeling across a ten-year planning horizon. With Whitebirch, Chapman has been able to understand and manage the planned growth of its endowment, from $134 million to $392 million over the last 10 years, while increasing the percentage held in...
PHILADELPHIA – March 13, 2018:  PFM announced today that Arizona State University is now live on the Whitebirch Pro platform.  The university is using the multi-year planning platform to forecast long-term planning scenarios, including evaluating various operational and capital project assumptions and their impact on the financial statements of the institution. These forecasts support identifying the resources needed to achieve the goals set for the university by the Regents and potential options to address those needs. Lisa Frace, AVP for Planning and Budget, and Rebecca...
PHILADELPHIA – February 9, 2018: Iowa Lakes Regional Water (ILRW) is live on the Whitebirch On Demand platform. ILRW is using Whitebirch to perform revenue and expense trend analysis with a focus on forecasting their current budget. Additionally, ILRW is using the software to evaluate changes in debt service schedules and other scenario impacts on their budget and coverage ratios. Of particular importance is the platform’s ability to help them make decisions around major projects and initiatives, such as building a new water treatment plant, an alternative energy project, and...
PHILADELPHIA – February 8, 2018:  PFM announced today the City of Richmond, California recently signed a Whitebirch subscription agreement. The city is located in the East Bay region of the San Francisco Bay Area with a population of approximately 110,000.The City will use the Whitebirch platform to develop a plan to pay for increased pension costs and to forecast the impacts of this plan. They will also use the platform to analyze labor contract negotiations and reduced limited-term revenues (sales tax sunset, UUT settlement payments).Whitebirch Multi-Year Planning for Local...
PHILADELPHIA – February 7, 2018: It was recently announced that Manheim Area Water & Sewer Authority (MAWSA) signed up for a Whitebirch On Demand subscription agreement. MAWSA is a small authority that services approximately 3,000 water and 2,300 wastewater customers in the Manheim area in Lancaster County, Pennsylvania. They are currently considering a water tank project and will be using the platform initially to perform sensitivity testing around their customer rate structures.Whitebirch Multi-Year Planning for Water & Wastewater delivers to CFOs, finance directors and...
PHILADELPHIA – February 6, 2018:  The City of New Haven, CT has signed a subscription agreement for Whitebirch On Demand. The City is the principal municipality in Greater New Haven, which had a total population of approximately 130,000 in the 2010 United States Census, and is the second largest city in Connecticut. With anticipated cuts in state funding, the City of New Haven will be using the Whitebirch for Local Governments platform to implement initiatives to offset the deficit and pension funding and also provide a long-term strategy for the city’s financial health....
PHILADELPHIA – February 5, 2018:  PFM has announced that College of Saint Elizabeth is now live on the Whitebirch On Demand platform. The College uses Whitebirch to analyze how a series of new initiatives on campus, including new nursing and P.A. programs, will affect the financial health of the institution. This will ultimately allow them to better understand program profitability as they plan for the future. With a new strategic plan on the horizon in 2020, Whitebirch will be the tool they use to evaluate ideas and make key decisions.Mick Fescoe, Vice President for Finance and...
PHILADELPHIA – February 1, 2018: PFM announced today that New Orleans Ernest N. Morial Convention Center (New Orleans Public Facilities Mgmt, Inc.) is now live on Whitebirch On Demand. The platform was presented to the Finance Committee five days after signing the contract and was used at a Board meeting the week after. The Convention Center is using Whitebirch to evaluate the funding, timing, and prioritization of various capital initiatives and their corresponding impacts on liquidity levels, debt capacity, and other key metrics for the institution.Alita Caparotta,Vice President...
PHILADELPHIA – January 26, 2018: PFM announced a Whitebirch On Demand subscription agreement was received from New Mexico Institute of Mining and Technology. Also known as New Mexico Tech, the university offers over 30 Bachelor of Science degrees in technology, the sciences, engineering, management and technical communication. According to Newsweek, New Mexico Tech is considered one of the best small science and engineering schools in North America. Cleve McDaniel, CFO, will be using the platform to understand and model the impacts of possible changes to state support levels. Whitebirch...
PHILADELPHIA – January 26, 2018:  PFM announced the University of North Carolina at Charlotte (UNCC) is now live on Whitebirch Pro. The University uses the platform to evaluate operating impacts of important strategic areas of the institution including tuition, student fees, auxiliaries and compensation. Additionally, they have built a significant number of capital projects to understand the impacts on GAAP-based statements. UNCC also shares a five-year forecast of the financial statements with the system office for a Debt Capacity Study.Whtebirch Pro Multi-Year Planning for Higher...

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Press Mentions

Auburn University uses PFM’s Whitebirch
University Business
With colleges and universities constantly juggling multiple financial challenges, Auburn University has become the 100th user to turn to an innovative cloud-based platform for help -- PFM’s Whitebirch Multi-Year Planning Software (Whitebirch), a preeminent solution specifically built for comprehensive, higher education financial modeling.“A lot of our really big ERP (enterprise resource planning) systems have not been built to help us forecast into the future,” said Kelli D. Shomaker, CPA, and Auburn’s Vice President for Business & Finance/CFO. “Those systems...
Philly's PFM offers financial planning tool for higher education
Philadelphia Inquirer
There was a time when executives at colleges and universities didn’t have to sweat every decision that affected the long-term financial health of their institutions.All they had to do was raise tuition rates for ever-increasing numbers of students.That time is gone, particularly in the Northeast and the Midwest, where the number of high school graduates is declining, forcing schools to be more careful with money when hiring faculty for a new program.“Everybody is pausing for these things today. They might not have in better years. These decisions are bigger because the margin for...
An Open Budget Book
Business Officer Magazine
Colleges and universities across the country have faced numerous fiscal challenges in recent years, including yo-yoing state appropriations, seesawing enrollment numbers, and a wide variety of deferred maintenance and capital needs. In most cases, those familiar challenges drive board members and other leaders to make difficult decisions—and the most important tool for making effective decisions is complete, reliable information.At the University of Massachusetts (UMass), the five-campus public university system in the Commonwealth of Massachusetts, we realized a few years ago that we...
Government Finance Officers Lack Confidence in Fiscal Projections
Bond Buyer
Brett Matteo, President of PFM Solutions, was featured in Bond Buyer discussing how financial officers of local governments can increase their confidence in fiscal projections.
The Week in Public Finance: A Rate Hike, Unpredictable Taxpayers and Stress-Testing Budgets
Governing Magazine
Brett Matteo, President of PFM Solutions presented original survey findings from WACUBO. He discussed how local governments should use financial modeling technology to change assumptions and evaluate impact levels.