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Business Officer Magazine


News about how your association is a resource for you

Set to Debut Next Year: A Forum on Endowment and Debt Management

Next year, NACUBO's signature Endowment Management Forum (EMF) will be a bit different. Until now, the EMF has focused solely on endowment management, offering chief business officers, chief investment officers, and their teams an opportunity to meet with partners from the investment management industry and discuss actionable steps for participants to drive investment performance.

But, as the role of CBOs continues to evolve and expandwith a focus on the increasing complexity of the higher education business model—NACUBO members require a broad range of financial skills. One of those skills is the strategic use of debt as a component of sophisticated endowment management.

To that end, NACUBO offers the new Endowment and Debt Management Forum, to be held Feb. 5–7, 2014, in New York City. The enhanced workshop will address topics such as:

  • Endowment risk/debt risk/operational risk in an environment where more risk is required to yield the required return.
  • Spending rule considerations. Is an 8 to 9 percent return a realistic expectation in a repressed interest rate environment? Should this reality drive the higher education business model change?
  • The continuum of outsourced CIO functions.
  • Debt capacity and management.

Submit Showcase Proposals

NACUBO is accepting proposal submissions for 60-minute corporate showcase presentations at the Endowment and Debt Management Forum on issues related to the above topics. Submitting a proposal offers industry management experts an opportunity to demonstrate solutions, initiate provocative discussions, and share effective strategies to tackle the challenges campus administrators are facing. The deadline to submit proposals is Monday, August 12.

For more information, click on the Events and Programs tab at

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Just-Released Publications From NACUBO

NACUBO recently released several publications to help chief business officers stay abreast of the latest developments in areas such as governance and responsibility center management.

*Business Administration Basics for CBOs

As core members of executive management, CBOs are key players in campus administration. They also have a crucial role to play in support of the governance process, tax compliance, and student financial services. Learn more about the importance of each of these issues in the recently released complimentary chapters of College & University Business Administration, 7th Edition. The chapters are available in the Online Publications section at

Responsibility Center Management, Second Edition

The second edition of Responsibility Center Management, A Guide to Balancing Academic Entrepreneurship With Fiscal Responsibility, first published in 2002, is now available. Having studied the growth of the RCM budgeting model, coauthors John R. Curry, Andrew L. Laws, and Jon C. Strauss found that the fewer than a dozen institutions that used RCM in 2002 has grown to well over 50 institutions self-reporting that they use such a model.

The updated publication includes several case studies explaining the basics of RCM and offers comparisons of this method with the more traditional budgeting models. In addition, readers gain a better understanding of the significant changes involved in moving to RCM-and just why it may be worth the effort.

Purchase your copy from the Products section at

Auditing Subscription Service Changes

Subscribers to the online publication, A Guide to Federal Auditing for Colleges and Universities, will notice a few changes to its management and administration. Most notably, the service will shift from an individual subscription to an institutional subscription for a reduced price.

For more information on the above publications, contact Tadu Yimam, director, online learning, at

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Mary Herrin Chosen to Lead NACUBO Board in 2013–14

Mary L. HerrinMary L. Herrin, vice president for administration and finance, and chief financial officer, Wichita State University (WSU), Wichita, Kansas, becomes the 2013–14 chair of the NACUBO Board of Directors on August 1. She succeeds Charles A. Tegen, comptroller at Clemson University, Clemson, South Carolina.

In her current role at WSU, Herrin's responsibilities include the university budget, financial operations and business technology, purchasing, human resources, facilities planning, physical plant, and the university police. Herrin, who has worked in higher education administration at WSU for more than 35 years, is also an alumna of Wichita State University, having earned both bachelor's and master's degrees in accounting from that institution.

Herrin has been actively involved in both NACUBO and CACUBO; she has served on the NACUBO board since 2009 and as CACUBO board president from 2010 to 2011. She serves as board member and treasurer of the Wichita State University Intercollegiate Athletic Association Inc.; as the vice president and treasurer of the Wichita State University Union Corp.; and as assistant treasurer of the Wichita State University Board of Trustees.

Herrin also serves on the boards of Larksfield Place, an independent retirement community in Wichita; Senior Services of Wichita Inc.; and the Wichita Symphony.

The NACUBO vice chair for 2013–14 is Ronald R. Rhames, senior vice president and chief operations officer, Midlands Technical College, Columbia, South Carolina. Gregg Goldman, senior associate dean, finance and administration, and chief financial officer, Marshall School of Business, University of Southern California, Los Angeles, will serve as secretary.

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More Webcasts on Timely Topics

NACUBO recently held webcasts on a variety of timely topics. These include:

  • Improve Your NFP Audit and Accounting Guide IQ. The AICPA has recently released a revised Audit and Accounting Guide for NFP Entities. Using this updated guide, speakers provided practical guidance for generally accepted accounting principles that are most relevant to independent colleges and universities. Speakers included Karen Craig, AICPA/NFP expert panel representative; Dale Larson, vice president of business and finance, Dallas Theological Seminary, Texas; and Stuart Miller, partner, Crowe Horwath LLP.
  • Affordable Care Act: Implementation Road Map for Colleges and Universities. Learn the steps you should take to help your institution meet the requirements of the act in 2014 and minimize future liability. Speakers included Jim Hamilton, partner, Bose McKinney & Evans LLP, Indianapolis, on employer rules and penalties; Maureen Pinnick, manager of employer resources, Franklin College, Franklin, Indiana, on the treatment of adjunct faculty; and Dan Rives, associate vice president for university human resource services at Indiana University, on new fees and coverage mandates.
  • The Cashless and Paperless Business Office. Two major changes implemented at the Ohio State University, Columbus, include eliminating cash in the bursar's office and not actively billing students. OSU's Virginia Layton, university bursar, and Tony Newland, associate bursar, discussed the resulting cost savings to the institution.

To watch a recording of a webcast or to access previous webcasts, visit the on-demand section of the Distance Learning page at

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