Training Certification Program For Senior Financial Administrators Session I January 2005.

Training Certification ProgramFor Senior Financial Administrators

Session I

January 2005

2

Agenda

SECTION TIME

Introduction 20 Mins

Goals and Objectives 20 Mins

Ethics 30 Mins

Break 10 Mins

Higher Education / Not-for-Profits 60 Mins

Fundamentals of Accounting (I) 30 Mins

Break 10 Mins

Fundamentals of Accounting (II) 30 Mins

Summary and Conclusion / Questions 30 Mins

TOTAL 240 Mins

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• CUMC is growing – more people and $’s to manage

• Highly regulated

• Need for formal training

• Team building

• Reinforcement of CU Policies and Procedures

• Professional development

Goals and Objectives

Steering Committee Members

• Michael O’Connor, Ed.D.

• David M. Cohen

• Gary Herrmann

• Galene Kessin

• Michael McGuire

• Lisa Franciosa

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• Strengthen areas that are weak:

– Reputation risk

– Minimize and risks

– Validate goal performance

– Raise professional standards

• Administrator’s role

– Dual responsibility to CU and Chair

• Strengthen financial controls

Goals and Objectives

6

Columbia Organization Chart:Lines of Reporting

Gerald D. FischbachExecutive Vice President for Health and Biomedical Sciences

Dean of the Faculty of Medicine

Joanna Rubinstein

Senior AssociateDean for

Institutional and Global Initiatives

Harvey Colten

Vice President and Senior

Associate Dean for

Academic Affairs

Michael O’Connor

Vice President andSenior Associate

Dean for Budget and Finance

Kevin Kirby

Chief Operating Officer and Vice

President and Senior Associate

Dean for Administration

Susan Stalcup

Interim Vice President for Development

Kathleen O’Donnell

Vice President and Senior Associate Dean for Clinical

Administration

Joseph Tenenbaum

Senior Associate Dean for Clinical

Affairs

Edward Shortliffe

Deputy Vice President and

Senior Associate Dean for

InformationTechnology

Marilyn Castaldi

Deputy Vice President for

Communications

Institute & Center Directors

DepartmentChairs

Ira LamsterDean, School of Dental

and Oral Surgery

Allan RosenfieldDean, Mailman

School of Public Health

Mary MundingerDean, School

of Nursing

Eric Rose

Associate DeanFor

Translational Research

PRESIDENT Board of Trustees

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CUMC: General Background

• $1.2 billion budget

• One-half of total University money and personnel

• 2,700 full-time and 4,000 part-time faculty (including affiliates); 4000 non-

faculty staff

• 2,900 students in four schools

• Sponsored research grants of $401 million

• Faculty practice revenues of $382 million

• Endowment of $947 million; 112 endowed chairs

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CUMC: 2004-2005 Projected Revenues

Dental $ 43 M

Medicine 985 M

Nursing 18 M

Public Health 150 M

Total $ 1.2 Billion

SchoolSchool

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CUMC: 2003-2004Source of Operating Funds

Note : Other includes gifts, endowment, patent and miscellaneous revenues

Total = 1.2 Billion

Tuition 4%

ICR9%

Other 9%

Affiliations 15%

Clinical Practice 37%

Sponsored Awards 26%

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• Overview of training program

• Reasons for conducting training

• Requirements for certification

– Complete 40 hours

– Participate

– Complete evaluation

– Case studies

– Lab exercises

Introduction

List Of Training Seminars

1: Intro Higher Ed, Fundamentals of Accounting

2: Fundamentals of Budgeting/ Monitoring Budget Performance

3: Financial Reporting

4: Revenue Cycle

5: Gifts, Pledges, Endowments

6: Cost Recoveries for Higher Education, OMB Circular A-21

7: Grant Compliance, OMB Circulars A-110 and A-133

8: Cash Management and Payroll Accounting

9: Capstone Summary and Conclusions

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12

It’s a New Environment

• Since the enactment of the Sarbanes-Oxley Act of 2002, there has been unprecedented focus on the role of board members and officers in ensuring their institutions are carrying out their missions faithfully, without extravagance, waste or the appearance of self-dealing.

• Although Sarbanes does not apply directly to college, universities, and other not-for-profit educational institutions, its influence is being felt in the education sector. Many institutions are voluntarily adopting some of the principles of Sarbanes.

Dealing With Ethical Issues

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– Technically, Sarbanes is not applicable to public interest entities

However:

– Sarbanes’ objectives are compelling:

• Enhanced integrity of senior management• Enhanced integrity of financial reporting• Enhanced role of Board oversight• Enhanced effectiveness of internal controls

– There are increased public entity stakeholder expectations: • Regulators and state governments

• Board members from corporate world

• Donors

• Service buyers and patrons

Sarbanes-Oxley Why Should We Care?

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Action within the Education/Non-profit community:

• There is an emerging emphasis on “the spirit of Sarbanes”• Donors and grantors expect:

−Management integrity

−Use of funds in accordance with restrictions

−Active, effective Board oversight

−Appropriate, understandable financial reporting

• Buyers and patrons expect −Appropriate use of public money

−Impeccable ethical behavior

−Effective management in light of price increases

Sarbanes-Oxley Why Should We Care?

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• If enacted, it would:− Provide that the CEO/CFO certify annual report

− If gross revenues < $1 million/assets < $3 million, then verify that report “fairly presents” the financial condition

− If gross revenues > $1 million/assets > $3 million, then verify “fairly presents” and a) no false statements, b) controls are adequate, c) deficiencies disclosed to board/auditors

− Encourage NFPs, especially if large, to have audit committees that:

− Are independent, oversee auditor, establish system for complaints

− Govern the activities of interested directors and officers (i.e., with regards to related party transactions)

Sarbanes-Oxley Federal Non-Profit Initiatives

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NACUBO Recommends:

Senior management implement a code of conduct that should:

– Inventory, assess and update as needed existing codes of conduct, including

conflict of interest policies

– Establish appropriate codes if they do not already exist

– Require sign off by senior leaders acknowledging the code

– Be comprehensive and clear

– Be easy to access, understand, and implement

– Be communicated broadly

– Include a confidential mechanism to report code violations


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Code of Conduct Promotes:

• Honest, ethical conduct

• Full, fair, accurate, timely, and understandable disclosure in reports and documents

• Compliance with applicable governmental laws, rules and regulations

• Prompt internal reporting of code violations to a designated person or place

• Accountability for adherence to the code


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“If You See Something, Say Something”

Examples:

• Signing onto University System and approving on behalf of someone else

Example: FFE, APCAR, and RASCAL

• Nepotism

– No direct reporting relationship

– Reporting relationship must be disclosed

– No input into compensation of another

– Appearance of impropriety


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• Being asked to submit reports to external sponsors or internally where you know

information is inaccurate

• Misuse/inappropriate use of University resources

• Using University assets for personal gain

• Charging personal side trips made on business trips

• Violating Conflict of Interest Policy

(https://www.rascal.columbia.edu/coi/coiframe.html)

• Use of restricted funds for other purposes


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Reporting Misconduct: Barriers to Reporting

The National Business Ethics 2003 survey by the Ethics Resource Center found that while there had been overall increase in employee reporting of misconduct, the majority of employees (40% - 70%) stated they would not report misconduct.

There are many reasons for non-reporting, including

• Loyalty to group or department

• Fear of retaliation

• Concern that leadership will not act to correct misconduct

• Believing that co-workers would not report

• Not knowing where to report


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Reporting Misconduct: Barriers to Reporting

• Improper practices that are not corrected early can escalate into more destructive situations

• Consequences of escalation include damage to individuals and University image; loss of funds, property, physical security and job security; delays in research progress, disrespect for ethical values

• A culture of non-reporting may imply distrust in leadership, cynicism about University ethics, lack of employee identification with institutional goals, and low employee morale

• Demoralization among employees may result in a culture of “permission” to cut corners and participate in impropriety, values confusion, diminished performance, increased turnover and instability


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Conflict of Interest : Individuals to call if there is an ethical issue:

Gerald Fischbach 305-2752 Executive VP of CUMC

Michael O’Connor 305-3719 CUMC Budget and Finance

Marsha Wagner 854-1234 Ombuds Officer

Galene Kessin 305-3671 Human Resources

Alan Brinkley 854-2403 Provost

Patricia Catapano 854-4521 Office of General Counsel

BREAK

SESSION 1

Part 1: Intro to Higher Education

Part 2: Fundamentals of Accounting

Session Objectives

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• Identify characteristics and types of not-for-profit organizations, including colleges and universities

• Understand the following:

– Differences between not-for-profits and commercial entities

– Fiduciary responsibilities of not-for-profit organizations

– Higher Education market segment and its challenges

– Basic principles of fund accounting

– Net asset classifications per SFAS 116 and 117 and be able to relate fund accounting to them

PART 1Higher Education /

NFP Industry Overview

What is aNot-for-Profit Organization?

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A 501 C(3) entity possesses the following characteristics:

• Contributions of significant amounts from resource providers who do not expect

commensurate return; existence heavily dependent on private and public support

• Operating purposes are other than to provide goods or services at a profit; typically

serves a social, moral, or ethical purpose which is usually reflected in the mission

statement

• Absence of ownership interests

• Tax-exempt status


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• Hospitals and medical research organizations. A hospital is an organization whose

principal purpose or function is to provide hospital or medical care or either medical

education or medical research. A rehabilitation institution, outpatient clinic, or community

mental health or drug treatment center may qualify as a hospital if its principal purpose or

function is providing hospital or medical care. If the accommodations of an organization

qualify as being part of a skilled nursing facility, that organization may qualify as a hospital

if its principal purpose or function is providing hospital or medical care. A cooperative

hospital service organization that meets the requirements of section 501(e) will qualify as a

hospital.


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• Hospitals and medical research organizations. The term hospital does not include

convalescent homes, homes for children or the aged, or institutions whose principal purpose

or function is to train handicapped individuals to pursue a vocation. An organization that

mainly provides medical education or medical research will not be considered a hospital,

unless it is also actively engaged in providing medical or hospital care to patients on its

premises or in its facilities, on an in-patient or out-patient basis, as an integral part of its

medical education or medical research functions.

• Medical research organization. A medical research organization must be directly engaged

in the continuous active conduct of medical research in conjunction with a hospital, and

that activity must be the organization's principal purpose or function.

Not-for-Profit vs. Commercial Organizations

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Not-for-Profit Organizations:

• Resources received without expected repayment

• Operate to fulfill a need, purpose or cause

• Surplus or deficit

• CU: “Educate, Discover, Care, and Lead”

Commercial Enterprises:

• Resources received with possible repayment or economic benefit

• Operates to make a profit and provide returns to shareholders

• Net income or net loss

• Provide service to make money

more

Not-for-Profit vs. Commercial Organizations

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Not-for-Profit Organizations:

• Absence of defined ownership interest

• Use “Net Asset” classification

• May receive donated assets and services

• Tax-exempt status granted

• Board of Trustees - fiduciary responsibility to society, community, and clients

Commercial Enterprises:

• Have defined ownership interest (i.e., stock)

• Use “Equity” classification

• Usually there are no donations to commercial enterprises

• Taxable entities

• Board of Directors - fiduciary responsibility to shareholders

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Endowment – fund grouping includes three types of funds classified as “endowment and similar” funds:

1. True Endowment – donor has stipulated that the principal is to be kept intact in perpetuity and only the income therefrom can be expended either for general purposes or for a restricted purpose. Revenue and net assets of these funds are reported in the permanently restricted class of net assets.

2. Term Endowment – donor has provided that upon the passage of time or the happening of a specific event, the endowment principal can then be utilized either for a specific purpose or for the general operation of the institution. Revenue and net assets of these funds are reported in the temporary restricted class of net assets.

3. Quasi-Endowment – the board, as distinct from the donor, has set aside unrestricted amounts to be used as endowment at least for some time. Revenue and net assets of these funds are reported in the unrestricted class of net assets.

Fund Balance Accounting:Definitions

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Gifts: • Unrestricted Contributions • Current Restricted Contributions – contributions that can be used to meet the

current expenses of the organization, although restricted to use for some specific purpose, or during or after some specified time

• Investment Securities – contributions in the form of stocks and bonds• Gifts-In-Kind – unrestricted or temporarily restricted

• Fixed Assets – land, building, and equipment• Museum Collections

Pledges (promise to give): A promise to contribute to an organization at a later date or in installment payments. May or may not be legally enforceable.


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Statement of Financial Position (Balance Sheet)• Reports the assets, liabilities and net assets of the organization

• Is presented on the accrual basis of accounting

• The assets and liabilities are grouped into homogeneous groups such as

– Cash and Cash equivalents

– Accounts and notes receivable

– Accrued employee benefits

– Short and long term liabilities

• Each FAS Account has a balance sheet and revenues and expenses


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Statement of Financial Position (Balance Sheet)

Six Basic Totals Required:

Fund Balance AccountingBalance Sheet

NFP Organization Balance SheetXX/XX/XX

Total Assets XXX

Total Liabilities XXX

Net Assets:Unrestricted XXXTemporarily Restricted XXXPermanently Restricted XXX

Total Net Assets XXX

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Statement of Financial Position (Balance Sheet)

Other Information Required:

•Classification of Assets and Liabilities

•Liquidity Information

•Restrictions on Assets and Net Assets


NFP Organization Balance SheetXX/XX/XX

Cash XXX

Total Assets XXX

Accounts Payable XXX

Total Liabilities XXX

Total Net Assets XXX

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Each fund has its own assets, liabilities, net assets (fund balance), revenues, and expenses.

Plant fund Operating fund

Endowment fund Total entity

A = L + N.A.R - E = N.A. A = L + N.A.

R - E + N.A.

A = L + N.A.R - E = N.A.

A = L + N.A. R - E = N.A.


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Fund Balance Accounting:Balance Sheet

Example:

Balance Sheet

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Statement of Activities (Revenue/Expense statement)• Summarizes all of the activity of the organization for the entire period.

• Depicts how the resources of the organization are used in providing programs or services in order to meet its mission

– Revenues (Sources)

– Expenses (Uses)

• Reported by natural or functional groupings

• Reports revenue and expenses at gross amount and gains and losses at net amount

Fund Balance Accounting:Statement of Activities

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Fund Balance Accounting:Statement of Activities

Example:

Revenue and Expenses

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Statement of Cash Flows:

• The statement of cash flows analyzes the movement of actual cash

• The cash flow statement indicates:- The organization’s ability to meet its obligations, and- The reasons for the differences between the total changes in net assets, and the receipts and payments of cash during the period.

Fund Balance Accounting:Statement of Cash Flows

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The statement of cash flows classifies receipts and payments of cash in three categories:

1. Operating

– All amounts not defined as investing or financing

2. Investing

– Making or collecting loans to other entities

– Acquisition or disposal of property, plant and equipment

– Sales or purchases of marketable securities

3. Financing

– Borrowing or repaying amounts borrowed by the organization

– Proceeds from contributions received for long-term purposes

– Receipt or payment of annuity obligations

– Deposits with bond trustees

Fund Balance Accounting:Statement of Cash Flows (Cont.)

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Fund Balance Accounting:Cash Flow Statement

Example:

Cash Flow Statement

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•Permanently Restricted•Resources subject to donor-imposed restrictions requiring that the original contribution be retained inviolate and in perpetuity but permit the use of investments earnings for general or specific purposes. The primary component of these assets is true endowments whose appreciation is either restricted to specific uses, such as support for financial aid or a faculty chair, or else is available for general university purposes.

•Example: Endowment Principal accounted in: General Ledger 0-60000 through 0-69999

Net Assets Classification

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•Temporarily Restricted•Resources subject to donor-imposed restrictions that will be met by actions of the University or the passage of time. These net assets are primarily comprised of gifts in the form of cash or pledges for specific purposes, such as financial aid, capital constriction or research activities, and the unspent net realized and unrealized gains and net reinvested income generated by permanently restricted assets subject to donor-imposed restrictions on their use.

•Example: Gift Accounts accounted in:General Ledger 0-42000 through 0-44999-Once expired, moved to Unrestricted Net Assets


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•Unrestricted•Resources which are not subject to donor-imposed restrictions.

•Example: Ledger 2 - Unrestricted budgetLedger 4 - Internally restricted

Someone in department decides how to spend through budget process


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•Similarity to Profit-Oriented Reporting

•A complete set of Financial Statements are required

Statement of financial position (balance sheet)

•Statement of activities (revenue / expense account)

•Statement of cash flows

•Accompanying notes

Reporting Considerations

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http://www.columbia.edu/cu/finance/

Reporting ConsiderationsFinancial Report

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•Safeguard Assets

•Net assets are an asset of the University

•Deans, Chairmen and DA’s are custodians

•Fiduciary responsibility

•Agency relationship

•Monitor positive fund balance and transactions

•Review transactions

•T&E expenses on DARTS

•Acknowledge donors money, how money should be spent, reporting to donors

•Reviewing and reconciling monthly reports on a timely basis

•Making corrections as needed

Role of DA: Stewardship

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•Cost of doing business when account is in overdraft

•Overdrafts are funded by the University

•Not collected AR: forfeited funds

•Aggravation factor / Time waster

Time Value of Money

PART 2Fundamentals of

Accounting

Cash vs. Accrual Accounting

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CASH Revenues are recognized when cash is received and deposited and expenses are recorded in the accounting period when bills are paid

ACCRUAL The most commonly used accounting method, which reports income when earned and expenses when incurred

Receivables – when earning process is complete (since 1996 in terms of faculty practice)

Liabilities – when there is a legal claim against assets.

(Includes Physician Incentive payments)

MODIFIED ACCRUAL Revenue and Expenditures handled daily on a cash basis, but converted to accrual with periodic adjustments


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Balance Sheet Example


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ADVANTAGESCASH BASIS

•Simplicity

A simple checkbook may be all that is needed to keep the financial records of an organization, provided a complete description is recorded in the checkbook stubs.

Accrual basis adds a level of complexity that is unnecessary in some organizations

ACCRUAL BASIS

•Accurately presents financial picture of the organization

This basis is more meaningful for organizations that have substantial unpaid bills or uncollected income at the end of each period and these amounts vary from period to period.

The cash basis would provide great difficulty in knowing exactly where the organization stood

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Cash Example

Deposits

•Faculty Practice Patient Receipts

•Gifts Receipts

•Employee Reimbursements

Disbursements

•Invoice Payments

•Payroll

Departmental Accruals

•AR – Patient invoices in IDX

•AR – hospital agreements (NYPH, MD, Clinical Assess)

•AP – NYPH and other affiliates

•AP – MD incentives and on call payment

•AP – Clinical assessment

•AR/AP- Clinical Trials

•AR/AP- Nongovernment grants

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Accrual Example

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Modified Accrual Example

Grant Accounting

•Revenue is recognized, up to the budgeted amount, when expenditures are incurred

•Revenues equals Expenses

Endowment Income• Income Distributed Quarterly

• Principal adjusted at year end to reflect actual

BREAK

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•Reconciliation of lockboxes

•Timely Deposit

•Safeguard / custody (within 24hrs needs to be deposited)

•Reconcile to FAS (DARTS)

Expectations of Managing Cash

Budget, Actuals, andEncumbrances

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Budget A budget is a plan of action. It represents the organization’s blueprint for the coming months, or years, expressed in monetary terms. An organization must have specific goals before preparing a budget.

Actuals Transactions which represent actual revenues and expenditures

example: payrolls, supplies, equipment, etc

Encumbrances Represents commitments based on SAF’s project salary allocation

example: PO’s in Purchasing system

Balance Available Budget – Actuals – Encumbrances = Budget Available

CUMC Fund Accounting

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Accounts in FAS

•General Ledger (“0” Ledger): •0-XXXXX-XXXX

•Revenues/Expenses or Subsidiary Ledgers:•1-XXXXX-XXXX

•2-XXXXX-XXXX

….

•9-XXXXX-XXXX

Remember – Every Revenue/Expense Ledger must be related to a General Ledger (“0” Ledger) account


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Accounts in FAS

General Ledger Structure:Assets, Liabilities, Fund Balances

0-XXXXX-XXXX

Account Control

Account Identification

Ledger

Example of General Ledger Account: 0-44320-4220


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Accounts in FAS

Subsidiary Ledger Structure:Assets, Liabilities, Fund Balances

1-XXXXX-XXXX through 9-XXXXX-XXXX

Subcode

Account Identification

Ledger

Example of Revenue/Expense Account: 1-60114-0790


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Subsidiary Ledgers (Revenues/Expenses)

1-XXXXX Current Unrestricted Revenues include unrestricted gifts and other unrestricted resources earned such as student tuition and fees, Indirect Cost Recovery, etc.

2-XXXXX Current Unrestricted Expenditures include economic resources which are expendable for any purpose in performing the primary objectives of the institution, i.e., instruction, research, and public service, and which have not been designated by outside donors or the

governing board for other purposes.

3-XXXXX Auxiliary Enterprises and Other Activities include revenues and expenditures for faculty practice, residence halls, and dining services


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Subsidiary Ledgers (Revenues/Expenses)

4-XXXXX Internally Restricted (Designated) include revenues and expenditures of funds, expendable for operating purposes but restricted by the University’s governing boards as to the specific purpose for which they may be expended, i.e., discretionary funds.

5-XXXXX Current Restricted Expenditures – Government Grants and Contracts include grants from governmental sources for research, training, or other sponsored programs.

6-XXXXX Current Restricted Expenditures – Other include private gifts and endowment income restricted to a school or a department or restricted for specific operating purposes such as scholarship grants, professorships, purchase of library books, etc.


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Subsidiary Ledgers (Revenues/Expenses) continued

7-XXXXX Plant Fund / Clinical Trials Expenditures: Plant funds are used for the acquisition, renewal and replacement, and retirement of indebtedness on physical properties for institutional purposes. Clinical trials are used for the study in human subjects involving a therapeutic or diagnostic intervention with a drug, device, or health care product.

8-XXXXX Not Assigned

9-XXXXX Agency Funds include revenues and expenditures of funds held by the institution as custodian or fiscal agent for others such as student organizations, individual students, or faculty members.


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Prime and Scope Accounts General Ledger accounts may have more than one sub-ledger account. The first sub-ledger account is called “prime” and the others are called “scope” accounts.

Map Code Every sub-ledger account carries a “map code” which tells the reader to which General ledger account it belongs. The map code is simply the General Ledger account number with out the leading zero number.

Note: Sub-ledger accounts do not have to be in the same department as the corresponding general ledger. This allows one department to hold the funds (General Ledger account) and allow other departments to spend some of these funds (Subsidiary Ledger account).

Sub Ledger General LedgerRevenue 1-XXXXX 0-10000 throughExpenditure 2-XXXXX 0-10099

Auxiliary Enterprises 3-XXXXX 0-16000 through0-16149

Internally Restricted (Designated) 3-6XXXX through 0-16500 throughExtension (Ledger 4H on FFE) 3-69999 0-16999

Faculty Practice 3-7XXXX 0-17XXX


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Subsidiary – General Ledger RelationshipUnrestricted

Sub Ledger General Ledger

Internally Restricted (Designated) 4-XXXXX 0-18000 through0-19999

Internally Restricted (Designated) 4-55000 through 0-16150 throughExtension (ledger 4H on FFE) 4-55599 0-16999


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Subsidiary – General Ledger RelationshipUnrestricted (continued)


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Subsidiary – General Ledger RelationshipRestricted


Gov't Grants and Contracts Prime 5-20000 through 0-20000 through5-39999 0-39999

Scope 5-40000 through Mapcode 2XXXX and5-99999 3XXXX

Private Grants (Ledger 6A) Prime 6-40000 through 0-40000 through6-41999 0-41999

Scope 6-5XXXX Mapcode 40XXX and 41XXX

Private Grants (Ledger 6A) Prime 7-78100 through 0-78100 through7-78999 0-78999

Scope 7-88200 through Mapcode 0-78100 through7-88999 0-78999


Private Gifts (Ledger 6B) Prime 6-42000 through 0-42000 through6-44999 0-44999

Scope 6-6XXXX Mapcode 42XXXScope 6-7XXXX Mapcode 43XXX & 44XXX

Endowment Income (Ledger 6C) Prime 6-46000 through 0-46000 through6-49999 0-49999

Scope 6-8XXXX Mapcode 0-46XXXX through48XXXX

Scope 6-9XXX Mapcode 49XXXX

Student Loan Funds NONE 0-5XXXXEndowment Principal NONE 0-60000 through

0-69999


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Subsidiary – General Ledger RelationshipRestricted (continued)


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Subsidiary – General Ledger RelationshipSub Ledger General Ledger

Plant FundsPrime 7-1000 through 7-72999 0-71000 through 0-72999Scope 7-3XXXX Mapcode 71XXX & 72XXXPrime 7-75XXX 0-75XXXScope 7-5XXXX Mapcode 75XXX

Clinical TrialsLedger 7A 7-79000 through 0-79000 through

7-79999 0-79999

Scope 7-88000 through Mapcode 79000 through7-88199 79999

Agency FundsPrime 9-9XXXX 0-9XXXXScope 9-1XXXX Mapcode 9XXXX

Clinical, Affiliates, Practice Plans

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Clinical Doctors rendering services for patient care

Affiliates Other institutions where CUMC provides patient care or teaching

Practice Plans 3 Types1. Federated – Unified resources are pooled in one departmental plan2. Divisional – Divisions operate on padded basis and incurred department

O/H charges3. Individual Practitioner Accounts – Autonomous self sufficient, need to

cover costs individually

Questions

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“Education is what remains after one has forgotten everything he learned in school.”

Einstein

Summary

Course Evaluation

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Please complete course evaluation form

Session 1

Training Certification Program For Senior Financial Administrators Session I January 2005.

Documents

school slide

biomedical sciences

school of dental

training requirements

training certification

faculty practice revenues

financial reporting

parttime faculty