In Brief: Adopted: Discontinuation Policy

IN BRIEF

Adopted: Discontinuation Policy

The proposed Human Resources policy spelling out transitional services for members of the University whose positions are discontinued has been adopted, and is published Of Record on pages 17 and 18 of this issue.

FY1996 Budget: $1.9 Billion

At June's stated meeting the Trustees approved a balanced budget for FY1996 of $1.9 billion in unrestricted and restricted expenditures, up 8.1% over the one adopted for FY1995. Among the highlights in the document presented by the Executive Office of Resource Planning and Budget:

The Health Services component is the major force driving the growth of the budget with an increase of 12.4%. Excluding the Health Services, the remainder of the University budget is growing by 5.2%. The University unrestricted component totals $739.1 million, an increase of only 4.5%.
The budget for the School of Veterinary Medicine, although balanced, reflects the University's agreement to underwrite $1.6 million of costs as the School works to achieve longer term stability that was disrupted by the loss of Commonwealth funds. This $1.6 million is not recognized in the budget and will be managed against the University operating performance similar to the two previous years. In FY 1994 and FY 1995 the University underwrote $2.0 million and $1.6 million, respectively.
Beginning in FY 1996, GAAP (Generally Accepted Accounting Principles) for colleges and universities change in several important ways. New standards issued by the Financial Accounting Standards Board will result in changes to FY 1996 financial statements.

Various changes in accounting standards are detailed in the printed budget to be summarized in a fall issue of Almanac.

Seminar: Counterfeit Money, Fraudulent Traveler's Checks

The University Treasurer's Office and the Division of Public Safety are sponsoring a two-hour seminar entitled Counterfeit Money and Fraudulent Traveler's Checks, presented by the U.S. Secret Service:
Date: Wednesday, July 19
Time: 10 a.m.-noon
Location: Stiteler Hall, Room B-6 (208 South 37th Street)
Attention: Managers, supervisor, businesss administrators
We encourage all University and neighboring West Philadelphia businesspersons to attend this seminar. Please R.S.V.P. to Ms. DePorter at 898-7258 by day's end.
If you have any questions or comments, please contact Victim Support & Special Services (3927 Walnut Street) at 898-4481.

-- George Clisby, Police Chief -- Lynn DePorter, Cashier's Office

Almanac

Tuesday, July 18, 1995
Volume 42 Number 1

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