Presentation on theme: "OIE Tuition Process Enhancement Info Session January 2014 Presented by: Chris Schwarzer International Finance Director, Office of International Education."— Presentation transcript:
OIE Tuition Process Enhancement Info Session January 2014 Presented by: Chris Schwarzer International Finance Director, Office of International Education
Why the Change? Current Process: Program directors send budget and registration statistics to OIE prior to the start of the program; not always the case! OIE sends registration information to Bursar for release of funds; and Bursar moves funds to the College for transfer to their various study abroad programs. Arduous Process to say the least.
Why the Change (cont’d)? Requires Business Managers and Program Directors to work with two separate university offices – OIE and the Bursar, unnecessary redundancy Timing of the release of tuition return funds to the colleges/programs is inflexible Timing issues are particularly pronounced for summer programs because they cannot use the tuition funds until the new fiscal year begins
New Process!!!!! Program directors send budget and registration statistics to OIE prior to the start of the program; OIE will move funds to the College for transfer to their various study abroad programs
New Process Deliverables: 1.OIE Budget Template, completed accurately and 100% (examples are coming up) a)New Flat Rate of $275/credit will be used for all programs beginning with Maymester 2.OIE Stats Report 1.This is needed for the Open Doors Report, we load these into our database here at OIE.
New Process Step 1: Program Director or designee will prepare and provide OIE a detailed budget for the International Study Abroad Program. ▫Per the USG Business Procedure Manual 21.1:“The budgeting process for study abroad programs should be based on a reasonable projection of operating costs in the host country, including consideration of projected currency exchange rates.” The detailed budget must be submitted to OIE at a minimum of 4 weeks prior to departure date. No tuition funds will be provided to any study abroad program without a completed detailed budget in the format provided by OIE.No tuition funds will be provided to any study abroad program without a completed detailed budget in the format provided by OIE.
New Process (cont’d) Step 2: Program Director or designee will prepare and provide OIE the “Stats” template with all tabs and information completed per the OIE Stats Instructions. ▫Again, no change from the current process
New Process (cont’d) Step 3: Program Director or designee will request from OIE tuition funds for their corresponding International Study Abroad program. ▫This request can be in form and sent at the same time as the required detailed budget. OIE will review the prior year’s tuition generated from the international study abroad program and send the appropriate tuition dollars.
New Process (cont’d) Step 4 : Business Manager will prepare BA to move funds from OIE to specified pre-determined Study Abroad Tuition account within college. Please see the document labeled “OIE Study Abroad Tuition Process ” for details on how to retrieve the tuition funds from OIE. ▫No Need to Pre-Budget ▫The budget office has been instructed not to pre- budget for any SA Programs
Tuition Excess/Deficit Excess Tuition Funds – Should be sent back to OIE. ▫Based on Materiality, variance Explanations will be required within 45 days of program end ▫Failure to provide adequate explanation will result in lower tuition dollars available for the following year Deficit Tuition Funds – College will pick up the tab for any shortfalls, OIE discretion to help
OIE Responsibilities Monthly or upon completion of a SA Program, OIE will verify tuition charges and applicable transient fees have been posted to the participants student account OIE will forward the tuition reconciliation to the budget office adhering to University deadlines OIE will prepare budget to actual reports for internal use and audit purposes