Host Dale Larson, CFO of Dallas Theology Seminary, discusses how he early-adopted the provisions of ASU 2016-14, which will require changes to reporting on the face of the financial statements, additional footnote disclosures, and new accounting treatment of certain transactions.
Financial officers in theological schools do more than wield the purse strings. They work with senior administrators to maintain economic equilibrium and maximize the use of available resources. Through annual conferences, webinars, a listserv (requires member school email address), and other resources, CFOs build peer networks and a collection of best practices for budget planning, investment policies and management, liability and legal issues, personnel and human resources issues, professional ethics, facilities management, and more. The Human Resource Professional Listserv is for those individuals at ATS member schools who are the designated HR person at the school. This might be a full-time HR person, a part-time HR person, or even a CFO who has the responsibility of HR in his or her portfolio.
ATS has many resources and data available to assist financial officers in their work. In particular, the ATS Strategic Information Report and the Institutional Peer Profile Report are strategic resources to help schools analyze their financial trends and performances. Please contact Chris Meinzer, ATS Senior Director of Administration and CFO if you have any questions—especially if you are new to a theological school.
Here are several professional organizations ATS financial officers have found useful:
- American Institute of CPAs
- Association of Business Administrators of Christian Colleges
- College and University Professional Association for Human Resources
- Council for Christian Colleges and Universities
- National Association of College and University Business Officers
- National Business Officers Association
- Society for Human Resource Management