University System of Georgia Fiscal Year End 2013
- Slides: 19
University System of Georgia Fiscal Year End 2013 Workshop Donna Barrett, Director, Institutional Finance Southern Association of Colleges and Schools/Commission on Colleges
Topics for the day: l Overview l Ways to Hit the Radar Screen l Current Issues l Opportunities for Growth
The Deal The Disclaimer I won’t be your evaluator I am not your staff person The “Deal”
Why SACSCOC? l Southern Association of Colleges and Schools, Commission on Colleges l Established 1895 l Private, nonprofit, voluntary organization l Over 800 members l Regional Accreditor l www. sacscoc. org
SACS is a regional accreditor l Purposes ¡Improve Quality ¡Assure public standards are met ¡Serve as “gate-keeper” for federal financial aid
Six Regional Accrediting Associations
How does regional accreditation affect me? l Member institutions are reaffirmed every ten years l Member institutions submit interim reports at the five-year point between reaffirmations – federally required
Ways to hit the COC radar screen l DOE issues – federally required l Financial Indicators l Substantive Change l Complaints l News / Public Notification l Reaffirmation
Current Issues l Accreditation Activities Timeline l Audit Format and Operational Outcomes l Fifth-Year Report
Accreditation Timelines l Know your timeline l Confirm it with your Accreditation Liaison l Share the joy with: ¡Your auditor ¡Your staff ¡Your CEO (particularly if you anticipate noncompliance) ¡Your Board of Trustees
Disclosure Change l Possible implications
Core Requirement 2. 11. 1 l Requires an audit and management letter for most recent year l Requires a budget approved by the Board l Requires narrative “making a case” l ARE THESE THREE CONSISTENT?
A Sample Public Institution l Trend asset classes l Examine Available Resources l Operational Outcomes l Operational Cash Flows l Enrollment l USE AUDIT to produce narrative
TWO ISSUES l Is the institution living within its means? l Are these behaviors sustainable?
Fifth-Year Interim Report l Requires full response l Areas related to finance: ¡CS 3. 11. 3 Physical facilities appropriately serve programs, services and mission-related activities l. Now include technological infrastructure Can result in financial monitoring…
Fifth-Year Interim Report l (Continued) l FR 4. 7 l CS 3. 10. 2 Compliance with Title IV Audits financial aid ¡Noncompliance can result in financial monitoring…
MYTH versus FACT There is a magic number…
Why be a financial evaluator? l Helps your own institution l Broadens your horizons l Professional contacts l Builds your resume l Service to higher education community l Form: http: //www. sacscoc. org/evalinfoform. asp
l. The End. l Thank you so much. dbarrett@sacscoc. org
- When does amazon's fiscal year end
- Year six leavers poem
- Fiscal incentives for industrial promotion (revised)-2013
- End to end argument
- Amway products catalogue 2013
- What is the georgia fccla state theme this year
- Year end adjustments grade 10
- Greenville bar cle
- End of year review objectives
- End of the year poetry
- Year end planning
- Adjustments in accounting grade 10
- End of year school reports 2021
- Reception end of year expectations
- Georgia state success academy
- Mga bursar office
- Georgia karagiorgi columbia university
- University of west georgia colors
- Cecile barbier
- "ph.d." "georgia state university" or "student success"