FinMI Program Details

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Agenda

Day One | Saturday, June 9, 2012

Welcome dinner and introductions
Tour of ConAgra Foods headquarters

Day Two | Sunday, June 10, 2012

"Basics of Budgeting"
Lunch
"Revenue Generation Opportunities"
"Capital Budgeting"
Dinner on your own/team meetings

Day Three | Monday, June 11, 2012

"The Operations Budget"
Lunch
"Financial Analysis"
"Analyzing Financial Statements"
Dinner on your own/team meetings

Day Four | Tuesday, June 12, 2012

"The Financial Impact of Meal Plans, Catering, C-Stores and Retail Operations"
"The Economy, the Future, and Foodservice"
Lunch
"Menu Engineering"
Case study introduction
Dinner on your own/team meetings

Day Five | Wednesday, June 13, 2012

"Contracts and Their Financial Impact"
"Risk Management and Ethics"
"Negotiations"
Lunch
Final presentation preparation
Group dinner

Day Six | Thursday,

Final Presentations
Graduation and Program Evaluation

This program begins at at 6:00 p.m. on Day One, and ends at 12:00 noon on Day Six.

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Sessions

Basics of Budgeting. Learn budgeting philosophies, reasons for budgeting, types of budgets, cash vs. accrual accounting, use of historical data, forecasting techniques, depreciation methods, and more.

Using Excel for Foodservice. Participate in a tutorial that introduces Microsoft Excel ® as a financial management tool for foodservice.

Capital Budgeting. Learn the purpose of capital budgets, timing of cash flows, time value of money, discounting of cash flows, and capital budget techniques.

The Operational Budget. Discuss the purpose of an operational budget, forecasting expenses, budget revisions, and revenue and expense variance analysis.

Financial Analysis. Learn how to conduct a financial analysis, including cost/benefit analysis; break-even analysis; ratios and what they tell you about your operation; and classes of ratios.

Analyzing Financial Statements. With a partner, analyze financial statements using a case study.

Meal Plans and Their Financial Impact. Discover the impact of various meal plans and their financial implications.

Risk Management and Ethics. Understand the financial impact of risk management and ethics.

Menu Engineering. Learn about menu engineering and priority considerations, and learn how to use the department income statement and operating budget data to establish base selling prices.

Pricing Strategies for Retail Operations. Participate in a discussion on pricing strategies for myriad collegiate retail food operations.

Contracts and Their Financial Impact. Examine the financial impact of contracts including the RFP process, legalities, ethics, negotiations, effective contract development, and system audits.

The Economy, the Future, and Foodservice. Experience a special presentation provided by the ConAgra Foodservice and Lamb Weston management team.

Revenue Generation Opportunities. Discover non-traditional methods that can be used to grow a collegiate foodservice business.

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Speakers

The following speakers were involved with the program in 2010:

R. Cameron Schauf - director of campus dining services & auxiliary operations, University of Rochester. Cam is a primary presenter at this program and services as one of the co-facilitators.

David May - assistant vice president, business affairs, University New Hampshire. David is a primary presenter at this program and serves as one of the co-facilitators.

Rich Neumann - director of residential dining, Ohio University. Rich serves as a presenter at this program and is a representative of the NACUFS board of directors.

Ray Schmidgall, Ph.D., CPA - hospitality financial management expert, the School of Hospitality Business, Michigan State University. Dr. Schmidgall serves as a primary presenter for a portion of the program.

ConAgra/Lamb Weston - the presenter line-up will also include speaker(s) from ConAgra/Lamb Weston, as appropriate.

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Travel Logistics

The following information will be helpful if you are budgeting to attend the Financial Management Institute.

Institute Registration Fee: There is no institute registration fee. All conference materials, facility tours and group meals are covered by the association and/or the sponsors of the program.

Hotel: Once accepted for an institute, participants will need to make their own hotel reservations. The 2012 group hotel rate for the Embassy Suites - Omaha - Downtown/Old Market is $154 plus tax (estimated at 18.16%). You should plan on at least a five-night stay (Saturday to Thursday), for a total of approximately $900 in hotel expenses. (This rate is a little higher than other institutes because of a competing group in the area at the same time. Because of that, the group rate will be offered three nights before the institute, based on room availability, but will NOT be available after the institute.) Hotel reservations must be made by Wednesday, May 9, 2012.

Travel: Travel to and from Eppley Airfield in Omaha, NE (OMA) and most cities typically range between $300- $600 plus appropriate airline luggage fees. The hotel offers a complimentary shuttle to and from the airport. Hotel self-parking is available for $8 per day; valet parking for $14 per day.

Meals: Cooked-to-order breakfasts are included in your hotel rate. All lunches, breaks, and two dinners are included in the program registration. Participants at FinMI should be prepared to purchase the following meals on their own:

All meals during travel prior to 5:00 p.m. on Saturday
Three dinners on your own/small group or team meetings, on Sunday, Monday, and Tuesday
All meals during travel after the program ends at 11:00 a.m. on Thursday

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Sponsor

NACUFS extends its thanks to ConAgra Foodservice and Lamb Weston for their financial and programming support of the Financial Management Institute.