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  • 1.  Surplus in cores - How do you handle finances?

    Posted 26 days ago

    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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  • 2.  RE: Surplus in cores - How do you handle finances?

    Posted 26 days ago

    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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    Original Message


  • 3.  RE: Surplus in cores - How do you handle finances?

    Posted 26 days ago

    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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    Original Message


  • 4.  RE: Surplus in cores - How do you handle finances?

    Posted 25 days ago

    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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    Original Message


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