1 / 19

University System of Georgia Fiscal Year End 2013 Workshop

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:. Overview Ways to Hit the Radar Screen Current Issues Opportunities for Growth. The Deal.

walter-clay
Download Presentation

University System of Georgia Fiscal Year End 2013 Workshop

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. University System of GeorgiaFiscal Year End 2013 Workshop Donna Barrett, Director, Institutional Finance Southern Association of Colleges and Schools/Commission on Colleges

  2. Topics for the day: • Overview • Ways to Hit the Radar Screen • Current Issues • Opportunities for Growth

  3. The Deal The Disclaimer I won’t be your evaluator I am not your staff person The “Deal”

  4. Why SACSCOC? • Southern Association of Colleges and Schools, Commission on Colleges • Established 1895 • Private, nonprofit, voluntary organization • Over 800 members • Regional Accreditor • www.sacscoc.org

  5. SACS is a regional accreditor • Purposes • Improve Quality • Assure public standards are met • Serve as “gate-keeper” for federal financial aid

  6. Six Regional Accrediting Associations

  7. How does regional accreditation affect me? • Member institutions are reaffirmed every ten years • Member institutions submit interim reports at the five-year point between reaffirmations – federally required

  8. Ways to hit the COC radar screen • DOE issues – federally required • Financial Indicators • Substantive Change • Complaints • News / Public Notification • Reaffirmation

  9. Current Issues • Accreditation Activities Timeline • Audit Format and Operational Outcomes • Fifth-Year Report

  10. Accreditation Timelines • Know your timeline • Confirm it with your Accreditation Liaison • Share the joy with: • Your auditor • Your staff • Your CEO (particularly if you anticipate noncompliance) • Your Board of Trustees

  11. Disclosure Change • Possible implications

  12. Core Requirement 2.11.1 • Requires an audit and management letter for most recent year • Requires a budget approved by the Board • Requires narrative “making a case” • ARE THESE THREE CONSISTENT?

  13. A Sample Public Institution • Trend asset classes • Examine Available Resources • Operational Outcomes • Operational Cash Flows • Enrollment • USE AUDIT to produce narrative

  14. TWO ISSUES • Is the institution living within its means? • Are these behaviors sustainable?

  15. Fifth-Year Interim Report • Requires full response • Areas related to finance: • CS 3.11.3 Physical facilities appropriately serve programs, services and mission-related activities • Now include technological infrastructure Can result in financial monitoring…

  16. Fifth-Year Interim Report • (Continued) • FR 4.7 Compliance with Title IV • CS 3.10.2 Audits financial aid • Noncompliance can result in financial monitoring…

  17. MYTH versus FACT There is a magic number…

  18. Why be a financial evaluator? • Helps your own institution • Broadens your horizons • Professional contacts • Builds your resume • Service to higher education community • Form: http://www.sacscoc.org/evalinfoform.asp

  19. The End. • Thank you so much. dbarrett@sacscoc.org

More Related