Presented at the October 12, 2010 Annual Meeting of the Eastern Association of College & University Business Officers (EACUBO). This presents a more clear way for college CFO's to communicate financial information to a non-financial audience. Done by a college CFO, Bill Mea of The University of the Arts, and two UArts graduate students: Fraser Marshall and Justin Witman.

1. DESIGNING FINANCIAL LANGUAGE
a story from the field
William E. Mea,
Fraser Marshall Ph.D.,
Justin Witman
2010 EACUBO Annual Meeting
10/12/2010

2. Designing Financial Language
Today’s Presentation
1. Introduction
2. Initial Research
3. First Prototype
4. Re-evaluation
5. Stakeholder Interviews
6. Story Development
7. Finding a Collective Purpose
8. Having a Conversation
9. Leaving The Picture

3. With over 2,400 students and 500 faculty members, The University
of the Arts in Philadelphia is the first and only university in the
United States solely dedicated to educating creative individuals in
the visual, performing and communication arts.

4. MID@UArts
Opening conversations with design
At MID@UARTS
Our goal is not to isolate and solve
problems. It’s to connect issues –
and to connect people – in order to
fully understand the challenges we
face in a broader context.
Only then can we find innovative
ways to inspire changes that are
economically, ecologically and
socially responsible.

5. FINANCIAL LANGUAGE
“I want to have a more productive conversation”

6. FINANCIAL LANGUAGE
Communicating to artists, designers and musicians

7. FINANCIAL LANGUAGE
Presenting information

8. FINANCIAL LANGUAGE
Understanding Perception
LEFT BRAIN LANGUAGE RIGHT BRAIN LANGUAGE

9. HUMANTIC DESIGN
FINANCIAL LANGUAGE
The three drivers of human function
Three drives Humans have three innate drivers that direct their lives. These are:
To find and mate; to earn fair compensation for work and to excercise
creative initiative. However, in work teams, confusion over Language,
Authority, Direction and/or Roles is detrimental to creative initiative.
basic human drives
1
Language
Authority
confusion
2 Direction
finding a mate
Roles
fair compensation 3
creative initiative
Pink, D. H. (2009). Drive : the surprising
truth about what motivates us.
New York, NY, Riverhead Books.

10. FINANCIAL LANGUAGE
Conventional Group Collaboration and Conversations
Conventional group collaboration
Anxiety
Collaboration High cognitive load Weak Collaboration
Confusion
Language Authority Direction Roles
Bion, W. R. (1961). Experiences in groups, and
other papers. London, Tavistock Publications.
Designed group collaboration Bion, W. R. (1948). “Experiences in groups.”
Human Relations I-VI. Highhouse, S. (2002). “A
history of the T-Group and its early applications
in management development.” Group Dynamics-
Theory Research and Practice 6(4): 277-290.

11. FINANCIAL LANGUAGE
Language Authority Direction Roles
Designed Group Collaboration and Conversations
Designed group collaboration
Anxiety
Collaboration Low cognitive load Strong Collaboration
Cognitive tools
Language Authority Direction Roles
abc
Carroll, J. M. (1991). Designing
interaction: psychology at the human-
computer interface. Cambridge England ;
New York, Cambridge University Press.
Simon, H. A. (1981). The sciences of the
artificial. Cambridge, Mass., MIT Press.

12. FINANCIAL LANGUAGE
Old language

13. FINANCIAL LANGUAGE
Creation of a New Language
$
100 THE UNITED STATES OF AMERICA 100
100
100 ONE HUNDRED DOLLARS 100
$
100 THE UNITED STATES OF AMERICA 100
100
100 ONE HUNDRED DOLLARS 100
$ $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
$ $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
$ $ $
100 100 100 100 100 THE UNITED STATES OF AMERICA 100
THE UNITED STATES OF AMERICA THE UNITED STATES OF AMERICA
100 100 100
100 100 100 100 100 ONE HUNDRED DOLLARS 100
ONE HUNDRED DOLLARS ONE HUNDRED DOLLARS
$ $ $ $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100
100 100 100 100
= 100K
100 100 100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
ONE HUNDRED DOLLARS
Annual Budget Annual Actual Extra Surplus
411K 623K +212K

14. FINANCIAL LANGUAGE
Infographic Prototype
+19K
Net tuition and
fees for credit $
100 THE UNITED STATES OF AMERICA 100
100
100 ONE HUNDRED DOLLARS 100
$
100 THE UNITED STATES OF AMERICA 100
+79K 100 ONE HUNDRED DOLLARS
100
100
Auxiliary enterprises
$
100 THE UNITED STATES OF AMERICA 100
100
100 ONE HUNDRED DOLLARS 100
-207K 100
$
THE UNITED STATES OF AMERICA
100
100
Net tuition and fees 100 ONE HUNDRED DOLLARS 100
for Cont. Studies 100
$
THE UNITED STATES OF AMERICA
100
100
100 ONE HUNDRED DOLLARS 100
-461K 100
$
THE UNITED STATES OF AMERICA
100
100
Annual fund 100 ONE HUNDRED DOLLARS 100
$
100 THE UNITED STATES OF AMERICA 100
100
-166K
100 ONE HUNDRED DOLLARS 100
Other investment $
100 THE UNITED STATES OF AMERICA 100
100
100 100
income
ONE HUNDRED DOLLARS
Operating Revenue
-804K

15. FINANCIAL LANGUAGE
Infographic Prototype
+19K
Net tuition and 100
$
THE UNITED STATES OF AMERICA
100
100
fees for credit $
100 THE UNITED STATES OF AMERICA 100
+475K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
No Jan 1st
$
100 THE UNITED STATES OF AMERICA 100
+79K salary increase
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
Auxiliary enterprises 100
$
THE UNITED STATES OF AMERICA
100
100
$
100 THE UNITED STATES OF AMERICA 100
+84K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
-207K
100
$
THE UNITED STATES OF AMERICA
100
100
Continuing Studies
$
100 THE UNITED STATES OF AMERICA 100
savings
100 ONE HUNDRED DOLLARS 100
100
Net tuition and fees 100 ONE HUNDRED DOLLARS 100
for Cont. Studies $
100 THE UNITED STATES OF AMERICA 100
100
$
100 THE UNITED STATES OF AMERICA 100
+405K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
-461K
100
$
THE UNITED STATES OF AMERICA
100
100
Hiring freeze
$
100 THE UNITED STATES OF AMERICA 100
100 ONE HUNDRED DOLLARS 100
100
Annual fund 100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
+200K
$
100 THE UNITED STATES OF AMERICA 100
Reserved funds
100 100
100 ONE HUNDRED DOLLARS
-166K
100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
from Operations/IT
Other investment $
100 THE UNITED STATES OF AMERICA 100
100 100 ONE HUNDRED DOLLARS 100
100 100
income
ONE HUNDRED DOLLARS
$ -135K
100 THE UNITED STATES OF AMERICA 100
100
Grad assistants/
100 ONE HUNDRED DOLLARS 100
$ student employment
100 THE UNITED STATES OF AMERICA 100
100
100 ONE HUNDRED DOLLARS 100
Operating Revenue Saved Expenses
-804K + +1016K

16. FINANCIAL LANGUAGE
Infographic Prototype
+19K
Net tuition and 100
$
THE UNITED STATES OF AMERICA
100
100
fees for credit $
100 THE UNITED STATES OF AMERICA 100
+475K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
No Jan 1st
$
100 THE UNITED STATES OF AMERICA 100
+79K salary increase
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
Auxiliary enterprises 100
$
THE UNITED STATES OF AMERICA
100
100
$
100 THE UNITED STATES OF AMERICA 100
+84K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
-207K
100
$
THE UNITED STATES OF AMERICA
100
100
Continuing Studies
$
100 THE UNITED STATES OF AMERICA 100
savings
100 ONE HUNDRED DOLLARS 100
100
Net tuition and fees 100 ONE HUNDRED DOLLARS 100
for Cont. Studies $
100 THE UNITED STATES OF AMERICA 100
100
$
100 THE UNITED STATES OF AMERICA 100
+405K
100 ONE HUNDRED DOLLARS 100
100
100 ONE HUNDRED DOLLARS 100
-461K
100
$
THE UNITED STATES OF AMERICA
100
100
Hiring freeze
$
100 THE UNITED STATES OF AMERICA 100
100 ONE HUNDRED DOLLARS 100
100
Annual fund 100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
+200K
$
100 THE UNITED STATES OF AMERICA 100
Reserved funds
100 100
100 ONE HUNDRED DOLLARS
-166K
100 ONE HUNDRED DOLLARS 100
100
$
THE UNITED STATES OF AMERICA
100
100
from Operations/IT
Other investment $
100 THE UNITED STATES OF AMERICA 100
100 100 ONE HUNDRED DOLLARS 100
100 100
income
ONE HUNDRED DOLLARS
$ -135K $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA
100 100
Grad assistants/
100 ONE HUNDRED DOLLARS 100 100 100
ONE HUNDRED DOLLARS
$ student employment $
100 THE UNITED STATES OF AMERICA 100
100 THE UNITED STATES OF AMERICA 100
100 100
100 ONE HUNDRED DOLLARS 100
100 ONE HUNDRED DOLLARS 100
Operating Revenue Saved Expenses Extra Revenue
-804K + +1016K = +212K

17. FINANCIAL LANGUAGE
Presentation

18. FINANCIAL LANGUAGE
Presentation - all not happy

19. FINANCIAL LANGUAGE
Process
Phase 1 Phase 2
developing language refining language and developing the story
“I need the “graphics need “we want
Bill right language” Bill Graphic work” Faculty more story”
Design Council
CLIENTS
$
100 THE UNITED STATES OF AMERICA
$ $
100
DESIGNERS
100 THE UNITED STATES OF AMERICA 100 THE UNITED STATES OF AMERICA
100 ONE HUNDRED DOLLARS 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
$
100 THE UNITED STATES OF AMERICA 100
$ $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100 100
100 ONE HUNDRED DOLLARS 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
studioNEXT Infographics Presentation Prototype 1 Co-design Prototype 2
sabaticals? benefits?
School Community

20. FINANCIAL LANGUAGE
Process
Phase 1 Phase 2
developing language refining language and developing the story
“I need the “graphics need “we want
Bill right language” Bill Graphic work” Faculty more story”
Design Council
CLIENTS
$
100 THE UNITED STATES OF AMERICA
$ $
100
DESIGNERS
100 THE UNITED STATES OF AMERICA 100 THE UNITED STATES OF AMERICA
100 ONE HUNDRED DOLLARS 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
$
100 THE UNITED STATES OF AMERICA 100
$ $
100 THE UNITED STATES OF AMERICA 100 100 THE UNITED STATES OF AMERICA 100 100
100 ONE HUNDRED DOLLARS 100
100 100
100 ONE HUNDRED DOLLARS 100 100 ONE HUNDRED DOLLARS 100
studioNEXT Infographics Presentation Prototype 1 Co-design Prototype 2
sabaticals? benefits?
School Community

21. FINANCIAL LANGUAGE
Collaboration

22. FINANCIAL LANGUAGE
Collaboration

23. FINANCIAL LANGUAGE
Collaboration

24. FINANCIAL LANGUAGE
Design Refinement

25. FINANCIAL LANGUAGE
Stakeholder interviewing

26. FINANCIAL LANGUAGE
Stakeholder interviewing

27. FINANCIAL LANGUAGE
Stakeholder interviewing

28. FINANCIAL LANGUAGE
Stakeholder interviewing

29. FINANCIAL LANGUAGE
Interviewing

30. FINANCIAL LANGUAGE
Stakeholder interviewing

31. FINANCIAL LANGUAGE
Story development

32. “Speak about restoration, not gifts”
“It would be great to use the Faculty
Council as a sounding board”
“We need a clearer distillation
method for financial information”
“More of a dialogue, even if we cant
change the reality of the numbers”
“It would be great to have a full
picture of the options”

33. FINANCIAL LANGUAGE
Anxieties and Needs
Finance Faculty Faculty Council Staff Council
Accountancy Design Liberal Arts Film + Media Administration
Bill Larry Anna Jack Mary Peter Amy Sara
Delivery Delivery Details Delivery Delivery
Methodology Methodology Clarity Methodology Methodology
Clarity Aesthetics Details Clarity
Sensitivity
Acknowledgement
Prioritizing
Awareness

34. FINANCIAL LANGUAGE
Story Development
FINANCIAL
DATA
VISUAL VERBAL
DATA DATA
EXPANDED
STORY

35. FINANCIAL LANGUAGE
Story Development
Phase I
Pragmatic
(visual language) an incomplete story questions about the story
infographics
Phase 2
Pragmatic
(visual language)
infographics refinement
Psychology + conversation about the story
(verbal language)
content
priority
tone
awareness a more complete story
sensitivity
acknowledgement

36. FINANCIAL LANGUAGE
Creating a shared story

37. FINANCIAL LANGUAGE
Creating a shared story
Talking about money can be
emotional and stressful.
Design helped stakeholders have
a conversation to find collective
financial interests deemed most
important for discussion.

39. FINDING COLLECTIVE PURPOSE Results of a meeting between the Finance Office CFO
at The University of The Arts & the Faculty Council head.
Each group was given 22 cards
with topics pulled from interviews.
BETWEEN FINANCE & FACULTY The goal was to identify points of common interest to aid
in creating a more democratized dialogue about finances.
They were then asked to prioritize
Interests and find common threads.
Strong Interest Slight Interest No Interest
WHERE THE CARDS FALL WHERE THE CARDS FALL WHERE THE CARDS FALL
Faculty Council Faculty Council Faculty Council
9/22 41%
9/22 41%
4/22 18%
Finance Office Finance Office Finance Office
9/22 41%
7/22 32%
6/22 27%
SEEING EYE TO EYE SEEING EYE TO EYE SEEING EYE TO EYE
Agree Agree Agree
28% 14% 11%
Similar Similar Similar
65% 14% 22%
Difference Difference Difference
7% 72% 67%
THE BIG PICTURE
• TRANSPARENCY OF INFORMATION • INFORAMTION ABOUT INSTUTUTIONAL HEALTH
93% COLLECTIVE AGREED
& SIMILAR INTEREST
• MORE VISUAL COMMUNICATION
• FEELING AS IF THERE IS A LACK OF TRUST
• IMPORTANCE OF A DIALOGUE
• COMMUNCATION IS OFTEN PERCIEVED DIFFERENTLY

40. This created CFO level
understanding of
stakeholder experience.
We subsequently designed
information that encouraged
shared conversations.

41. FINANCIAL LANGUAGE
A shared discussion

42. FINANCIAL LANGUAGE
A shared discussion

43. Moving Forward
Keeping the conversation open
NEW DESIGNERS
+ STAKEHOLDERS
past present future
INTERVIEWED RELATIONSHIPS BUILDING TRUST
COMMON GOALS CONVERSATIONS COLLABORATION
BUILDING TRUST SELF-SUFFICIENCY
FRASER
JUSTIN

44. FINANCIAL LANGUAGE
Summary points
Design can provide an innovative method to help overcome
the challenges of financial communication.
To communicate effectively, a shared language is a must.
However, it is also important to consider the underlying
psychology that occurs during financial discussions.
Key to this process is the creation of tools that can be used to
reduce the anxiety of “talking money”, allowing a more open,
productive and successful conversations.

45. A special thanks Acknowledgements
The University of The Arts
Bill Mea
Dr. Jack DeWitt
Dr. Mary Martin
Larry Bach
Project Partners
Dr. Benjamin Olshin
Dr. Anna Beresin
Jonas Milder
Dr. Jeff Wolper