All Members Community

Hi Everyone,

There are a couple of cores I work with at MGB that are running a surplus on a consistent basis due to relationships with external users (mostly commercial). This is great, but I know we need to handle the finances correctly - there could be all kinds of considerations from keeping it separate from federal funding to tax implications. Does anyone have established policies/protocols for this? I'd like to hear best practices. 

Thanks!

Andy Chitty

Mass General Brigham

achitty@mgb.org

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Andy Chitty
Executive Director, MGB Research Cores
Mass General Brigham
West Linn OR
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We create sustainability accounts for each of the Cores, the surplus will get deferred to that account for future use

Feel free to email and we can discuss the mechanics 

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Arthur Yu Man Wong
University Health Network
Whitby ON
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Hi Andy,

years ago there was a great paper by Julie Auger et al called: "Best Practices for Core Facilities: Handling External Customers" It was really  a very good analysis of what to do with the surplus. With that in mind, and considering that our industrial customers pay X% more than our external academic customers, we transfer that x% to another account (unrelated to the cores). 

Let me know if you would like to talk about this off line.

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Marimar Lopez
Director Research Cores
RENSSELAER POLYTECHNIC INST
Troy NY
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Andy,

We worked with finance to set up a process for commercial clients.  I don't know if it is best practice.  It uses another account to receive payments and pay the core.  It is probably easier to talk off line about the mechanics of how it works. 
Best,
Janette

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Janette Lamb
Institutional Research Cores Program Director
Medical College of Wisconsin
Wisconsin WI
jlamb@mcw.edu
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