Small Institutions Roundtable Discussions - Session 2
May 11, 2009 (4:00 pm) - The NACUBO Small Institutions Council hosted a roundtable discussion for chief business officers from similar institutions. Julee K. Sherman, vice president for finance and administration at Central Methodist University in Fayette, MO, facilitated the discussion. The following topics were discussed:
- New requirements for the Form 5500 - Parente Randolph was mentioned as having this expertise.
- UPMIFA Resources. See Status in the States at page bottom for state-specific information.
- While a comprehensive source of funding for private institutions by state might not exist, more information might be found through the education department within your state, or see the Department of Commerce State Services site.
- Utilities savings - geothermal energy for new buildings (some with assistance from the state). It seems common to have no backup system. Cost savings are apparent; some have seen payback in less than 5 years. [Geothermal energy information is accessible on the AASHE web site. Each issue of the AASHE Bulletin has an "energy" section to report what schools are doing. Archives for the year are available. Examples can also be found in their Annual Digest (www.aashe.org, search on geothermal).]
- For some, endowment spending rates still are hovering near 4.5-5.5%.
- Tuition increases in place for AY2009-10 hover near 4-6%. Budgeting for increased student financial aid expenses is a trend.
- Salary increases are being considered at 3% at some institutions. Cost reductions include hiring freezes, decreasing retirement contributions, cutting capital expenditure budgets by 10-50%. Marist is moving forward with constructing its technology center. Holy Cross is finishing one building but postponing the completion of two others.
- Outsourcing of the bookstore and payroll functions has been met with success.
- Form 990 - most are working through the board audit committee only, not the full board, to finalize the form before filing.
- Yellow Ribbon program - some institutions are participating although they don't expect a huge demand. The deadline for participating has been extended to June 15, 2009.
- NACUBO Responds to GASB's Fair Value Proposal
- IRS Again Issues 1098-T Fine Notices
- SEC Approves Money Market Fund Reform
- 2014 Planning and Budgeting Forum
September 22-23, 2014
- 2014 Tax Forum
September 28-September 30, 2014
- 2014 Global Operations Forum
September 30-October 1, 2014
- 2014 Intermediate Accounting and Reporting - Fall
October 13-14, 2014
- WEBCAST: Strategic Tuition Assessment and Tuition Restructuring
Thursday, September 4, 2014 1:00 PM ET
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: FASB's Proposed NFP Reporting Changes
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- ON-DEMAND: VIRTUAL: Global Operations Support and Compliance Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis