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May/June 2020

NACUBO Tackles Broad Coronavirus Response Efforts

NACUBO has been working tirelessly to support member colleges and universities and the students they serve since the onset of the coronavirus crisis in the U.S. We have advocated for comprehensive legislative relief for students and institutions, and we are routinely monitoring and compiling COVID-19 resources for colleges and universities, including regulatory guidance on higher education business and tax issues. NACUBO is also hosting weekly Telephone Town Halls for business officers to discuss their questions and strategies regarding pandemic preparations for their campus communities.

Click here to access our COVID-19 resources for colleges and universities on our website.

New Online Resource on State Issues

NACUBO has launched an online resource page aimed at tracking key higher education issues at the state level. Resources include issue briefs on student-athlete name, image, and likeness compensation; trends in “free college” programs across the country; and the rise in data privacy and protection laws in recent years.

The page provides case study analyses of several new state laws and actions that are particularly relevant to higher education. It also features external resources provided by other higher education associations that are of particular value to business officers.

Click here to access these resources on state issues. Send your suggestions of state-level policy trends that you’d like to know more about to Megan Schneider, senior director, government affairs.

Webcasts on Continuity During Challenging Times

The NACUBO webcast calendar and on-demand webcast catalog offer presentations from campus experts on numerous subject areas that are key to successful operations within the higher education business office.

To learn more about the topics below and others, consider viewing one of these webcasts.

Endowment study results and spending levels. The newest edition of NACUBO’s annual endowment study, 2019 NACUBO-TIAA Study of Endowments (NTSE), once again provides a comprehensive analysis of endowment investment returns, asset allocations, and governance policies and practices at U.S. higher education institutions and affiliated foundations.

The webcast Results From the 2019 NACUBO-TIAA Study of Endowments, recorded at the NACUBO 2020 Endowment and Debt Management Forum in Washington, DC, provides an overview of the latest survey findings. The panelists discuss issues that endowment managers encountered in FY19, review the strategies that institutions used to confront volatile market conditions, and offer their predictions of the challenges that investment pros and chief business officers will face in FY20 and beyond.

The webcast Are Endowment Spending Levels Sustainable? Trends and Best Practices for Higher Ed Institutions also evaluates new data from the 2019 NTSE as presenters examine trends in endowment spending rates and policies and discuss new spending strategies that institutions can consider in any low-return environments.

Payment card industry compliance. The webcast Managing PCI Compliance on Campus provides an overview of Harvard University’s experiences with centralizing PCI compliance—learn how the Cambridge, Mass., university implemented an omnichannel payment management system and achieved compliance by connecting vendors to one centralized system. The results indicate improved student experience, reduced paperwork, and greater efficiencies across the institution.

The presenters also touch on PCI DSS version 4.0; outline changes on the horizon to the PCI Software Security Framework; and explain the advantages of centralized payments, including flexible administration and greater continuity during unforeseen circumstances.

1098-T reporting basics. Complying with IRS Form 1098-T reporting requirements has long been a controversial and difficult process for many institutions. The webcast 1098-T Information Reporting: Back to the Basics reviews the importance of information reporting, recommendations for completing the form, best practices for collecting taxpayer identification numbers, and guidance on responding to IRS penalty notices. The information covered will both assist beginners and serve as a refresher to campus staff who have experience preparing 1098-T forms.

Return on investment. This two-part webcast series discusses ways for CBOs to increase efficiency while becoming more effective. The first webcast, University-Level ROI: How to Get Better Results With Less, examines macro-level challenges facing all universities today: reduced enrollment of traditional students, declining state and federal support, and increased expectations and accountability. The second webcast, Unit-Level ROI: Increase the Impact of Strategic Resource Allocation, drills down into examining ROI at lower levels in the organization. Both webcasts feature campus experts sharing their metrics for success along with best practices for increasing efficiency and effectiveness.

Click here to view our on-demand recordings or register for upcoming webcasts.

NACUBO Selects the 2020–21 Cohort of Fellows

A cohort of 16 professionals from colleges and universities across the country has been selected for the NACUBO Fellows Program. Over the next year, NACUBO Fellows will work together with and learn from higher education presidents, provosts, CBOs, and other experts as they expand their management, communication, and leadership skills.

NACUBO welcomes the following finance and business officers as 2020-21 Fellows:

This intensive leadership development program is a proven launching pad to career growth. Over the four years that NACUBO has offered the program, more than a dozen graduates have been promoted to senior leadership positions.

“Strengthening and diversifying the pool of business and finance leaders in higher education is part of NACUBO’s DNA,” says NACUBO President and CEO Susan Whealler Johnston. “We are honored to welcome these impressive new NACUBO Fellows and look forward to helping them grow as leaders over the course of the next year.”

For more information on the NACUBO Fellows Program, contact Elizabeth LaRocca. For media inquiries, contact Katy McCreary.

Professional Development