Research Cores First Financials Workshop – Covid Edition / March 23 & 25, 2021

Research core managers and leads are invited to the Research Cores First Financials Workshop, a two-part online business-basics class March 23 and March 25, 2021 from 10:00 am – 12:00 pm.  The workshop is sponsored by the Office of Campus Research Cores and Madison Budget Office.  Registration is closed.

Workshop Goals
To provide the business managers of research cores and shared resources the knowledge, skills and tools to implement sustainable and compliant financial practices in core operations, with a focus on  evaluating Covid impacts on revenues and expenses, modeling deficit recovery options, and developing 3-year strategic plans.

Learning Outcomes
Upon completion of the training module, research core managers will:
› understand the university, state, and federal compliance environment affecting business operations
› know the defining features of OMB Uniform Guidance and evaluate adherence
› identify major expenses associated with cores and document respective actual expenses
›  evaluate the impact of Covid on current and near-future expenses
› distinguish between usage and capacity, and provide appropriate metrics for evaluating user fees
› identify realistic models of post-Covid recovery (usage and user-fee income)
› apply various rate-setting parameters to explore effects of assumptions on revenue and sustainability
› provide a working model for sustainable core operation and rates for discussion with leadership teams
› receive individualized support for specific challenges and facility goals
› engage in supportive, friendly dialogue with experts and colleagues

Schedule
Part 1 Lecture: Tuesday March 23 10:00 am – 12:00 pm
Part 2 Discussion: Thursday March 25 10:00 am – 12:00 pm
Attendance at both sessions is required.

Registration
Registration is free but class size is limited. Registrants must be core or shared facility managers or operational leads. The class will be of greatest benefit to cores or shared facilities supported (wholly or in part) by user or customer fees.  The course content is similar to the First Financial workshops offered in June 2019 and October 2018, although the March 2021 discussion will focus on Covid responses.

We look forward to a collaborative workshop.