JFR Faculty Hire Business Plan Template Training

Transcript:JFR Faculty Hire Business Plan Template Training:
JFR Faculty Hire Business Plan Template Training v17.03 April 8, 2015 Prepared by Richard M. Nuttall Associate Dean of Finance UAMS College of Medicine General Principles Always start with the latest template as this will become more and more sophisticated You can find it on the JFR website under useful links address: https://jfr.uams.edu/ The business plan requires all revenue and expenses to be categorized into 5 possible separate Proformas (P&Ls)… COM ICE ACH Institutes Other (campus) JFR Business Plan Template General Principles…continued Adding incremental faculty does not in itself generate additional teaching, administrative and clinical needs. If the business plan is adding additional FTE/expense to COM, you will be required to provide evidence of additional teaching, research, or administrative needs within the COM. Note: replacing budget COM faculty is a valid concept In general, the addition of clinical inpatient assignments do not generate incremental revenue. The business plan needs to outline how the collections are “incremental”, or new revenue to the budget (expense should be fairly easy to show it is part of the budget). JFRs should never create equity issues. Equity concerns need to be addressed first before submission of a new faculty. JFR Business Plan Template General Principles…continued The template is organized by tab… JFR Business Plan Template Yellow are data entry tabs Blue are JFR Committee tabs Green is a blank Dean’s Commitment tab Error Tab This tab helps to keep a running total of the data entry errors within the whole business plan template. There is a separate section for each tab. We’ll keep adding errors checks as we find common mistakes. When you get to zero that does not mean everything is accurate, just that you have filled in the boxes. “Assis, Assoc, Prof”: use when you are not sure of the rank (pulls Assoc Benchmarks) Position Budgeted?: this must be accurate or it will be sent back This statement should be short and sweet. Long wordy justification are less likely to be read. Weekly hours can be adjusted. Just indicate “why” in the box provided Compensation Tab Each tab has data entry “error” counts to help ensure the template if fully completed All faculty positions should always complete the AAMC specialty and degree. MGMA should be filled out when clinical faculty. If you have an existing Dean’s Commitment, you don’t have to fill out the Dean’s Commitment Form. Selecting the total FTE and the