The SACUBO Ledger Blog has moved to its new home at www.sacubo.org. If you haven’t visited SACUBO’s site recently, we’ve got a whole new look with the latest blog posts, information on upcoming events and other ways to interact with the SACUBO all in one place. If you’ve previously bookmarked www.thesacuboledgerblog.org, please update that bookmark to the new address www.sacubo.org. After Friday, March 8th, this site for the SACUBO Ledger Blog will no longer be active.
And, blog subscribers, we’ve got you covered! We have already transferred your blog subscription to the new site and you should continue to receive each new blog post in your inbox when they are published. If you are not a SACUBO blog subscriber, yet, and want to join, visit the new SACUBO home page, select “Blog” from the menu at the top, then scroll down until you see the option to “Subscribe to Blog Posts” on the right. Enter your email address and click the “Subscribe” button. Whenever SACUBO posts a new blog, it’ll automatically be delivered to your inbox ready for reading, at your convenience.
We appreciate your support of the SACUBO Ledger Blog and look forward to continuing to keep you informed on SACUBO’s new website – www.sacubo.org
Special guest post by James Dawson and Janice Ratica, Cherry Bekaert & Holland
International study abroad programs are gaining in popularity and are fast becoming a fundamental part of college and university initiatives. Such programs assist in increasing enrollment while enhancing studies by providing students with an opportunity to experience another culture firsthand and improve foreign language skills. However, the overall investment involved with global initiatives can be quite significant and the risks of operating in foreign jurisdictions can be substantial as well, given the complex regulatory and cultural environments. Thus, international activities often trigger significant legal, tax, and reporting requirements – both domestic and foreign.
One of the core issues encountered with international expansion is that the notion of a “tax-exempt” entity is not recognized in all countries. Thus, an educational institution, although exempt from income taxation in the United States, may very well be treated as a taxable enterprise in a foreign jurisdiction. Therefore, educational institutions have to re-consider how their activities are conducted and structured from an international perspective. Continue reading
Managing 403 (b) Plan Compliance by Michelle Ueding, Featured Speaker
As a 403(b) plan sponsor, you (hopefully) survived the plan document requirement by the end of 2009. You have now filed (hopefully) two full Form 5500s and completed two independent audits. However, signing a document and filing a Form 5500 were just the beginning of the new requirements applicable to your 403(b) plan. The law has changed how you should look at (and how often you look at) your 403(b) plan.
These new requirements create a compliance gap you must fill. The IRS has announced new initiatives to increase 403(b) plan compliance. The requirement to file a full Form 5500 multiplies your plan’s chances of raising a DOL audit flag. As a result, you need to be able to answer these basic questions:
- Do you know how the IRS regulations impacted your 403(b) plan?
- Do you know whether your plan operation matches your new document?
- Are you monitoring your plan provider to make sure they have proper procedures in place?
- Do you have proper procedures in place?
- Does a committee meet regularly to discuss the plan and make plan decisions? Are you meeting your fiduciary duties with regard to your vendors and plan investments?
Please join us to discuss these issues at the SACUBO Fall Workshop in Tampa, Florida on November 6 and see how one University has worked to fill this compliance gap. We will provide practical guidance that you can use to reduce your risk of an IRS or Department of Labor audit or problem. Register today!
I join you in welcoming a new academic year, cooler temperatures, and football season! The 2012-13 SACUBO Board and Professional Development Committee met in June to reflect on the successful 2012 Annual Meeting in Louisville, and to plan another year of exciting professional development opportunities for our membership. I am pleased to provide you with a recap of major events to date, upcoming professional development opportunities, and other SACUBO news. Continue reading
Higher education is facing a perfect storm. The demand for education is changing as demographic changes portend a more nontraditional student (older, employed, commuter, etc.) than seen in the past. The supply side is all very different as on-line education has changed both how education is delivered and by whom. With the rising popularity of community colleges and vocational schools, private institutions find themselves competing for fewer traditional students. Public institutions are seeing an influx in students, but are physically and financially stretched to meet the need. Furthermore, an umbrella of financial stress overshadows the entire industry, with public funding waning and tuition discounting surpassing sustainable levels. Uncertainty abounds in the face of an election year. Finally, the addition of a demanding consumer population and greater public scrutiny cause many to believe that a college education is being reduced to a commodity.
It is against this backdrop, that 10 college and university presidents have contributed chapters to Presidential Perspectives and its 2013 theme of “Responding to the Commoditization of Higher Education.” Launched this month, the 7th year of Presidential Perspectives features authors from many SACUBO institutions, including Clemson University, Florida Gulf Coast University, Eastern Kentucky University, and East Tennessee State University, among others. Continue reading
Article Submitted by Michael Haag, University of Kentucky
The dust is settling and we are reattaching our heads on straight after a wonderful 60th anniversary of CBMI!
At the 2012 College Business Management Institute, an increase of over 10% in registrations this year started us out on the right foot. From the participants that attended this year, we wanted to give you some interesting demographics of our attendees: Continue reading
Karen Goldstein is a consultant for Witt/Kieffer, helping colleges and universities find their next presidents and vice presidents. Dr. Goldstein is very excited about the opportunity to speak at the 2012 Fall Workshop and shares the following with us:
“I am very much looking forward to speaking to all of your members at the SACUBO Fall Workshop about the things that I have learned as a search consultant as well as through many years as a CBO.”
At the same time that many CBO’s are planning for retirement, thus opening their positions for the next generation, we are finding that the demands on new CBO’s are rapidly changing. That means that those planning to become a CBO in the near future will find many opportunities but will also have to consider these new demands on the CBO and plan for them. Continue reading
According to Wikipedia, a best practice is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark. In addition, a “best” practice can evolve to become better as improvements are discovered. Best practice is used to describe the process of developing and following a standard way of doing things that multiple organizations can use.
SACUBO member institutions are constantly looking for ways to create better, more efficient business practices. The SACUBO Best Practices program is a great way to share those techniques that you have found to provide superior results at your institution. This year a total of thirty-three excellent best practice submissions were received from our members. From these, five very deserving finalists presented their programs to attendees at the Annual Meeting in Louisville Kentucky. I would like to personally thank the individuals who took the time to document their best practice programs.
If you are looking for best practice business solutions for your institution, I encourage you to visit the Resources tab of the SACUBO web site (www.sacubo.org). There you will find best practices submitted from 2002 through 2012. More than 300 documents have been accumulated from member institutions. Areas include budgeting, imaging, planning, safety, parking, human resources, crisis management, and much more. There is also an excel spreadsheet listing all the documents to assist you in searching for a specific topic.
All of us have creative and unique solutions we have developed at our institutions. I encourage you to consider documenting your best practices and submitting them so they may be shared with your fellow SACUBO members. Calls for submissions will be made around the first of October 2012, and presentation of the five finalists will be at the Annual Meeting, April 21-23, 2013 in Atlanta Georgia.
Trinity University announced May 18, 2012 that financial management leader, Gary Logan, has been named Vice President for Finance and Administration.
Logan, a certified public accountant, will serve as Trinity’s chief financial officer, providing leadership in the areas of budgeting, endowment management, purchasing, facilities services, human resources, and campus police, among other duties. Continue reading
With the state of Kentucky in the spotlight this week for the 138th running of the Kentucky Derby, we felt that it was only right to spotlight the greatest event in Kentucky outside of the Derby, the College Business Management Institute. This year, CBMI will be celebrating its 60th anniversary! Since the beginning of the program in 1953, CBMI has continued to offer the best holistic training on higher education found in the nation. Boasting over 40 faculty members, some of which are presidents of colleges and universities, and nearly 50 different session offerings, CBMI is proud to continually offer a top notch program, revered by many. In racing terms, CBMI is the Churchill Downs of conferences.
And this is where you come in! Registration is officially out of the gates. You don’t want to place or show, you want to win, and the best way to ensure that is by attending the 60th anniversary of CBMI held at the University of Kentucky this summer, July 29 – August 3. We’re counting on you to be the frontrunner and register for CBMI, today!