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SHORT TERM STUDY ABROAD PROGRAMS
BUDGET OVERVIEW
2010
Program Director organizes schedule and on-site logistics
(housing, meals, transportation, etc.)
Program director develops budget projection
with per person and fixed costs
OIP reviews budget projection and helps
determine tentative program fee
Admission runs from December through
March 1 (deposits due by March 15)
Int’l Accounting and OIP process pre-payments to
vendors
Program director finalizes budget projection
and OIP confirms program fee
OIP monitors course registration and
distributes participant lists
Program Director meets with Int’l Accounting
to review financial procedures and arrange bank
debit card
Program Director submits expense summary report to
Int’l Accounting
Financial planning process
Budget Projection
Study abroad programs are self-supporting.
Using a standard template, enter in all expenses, using formulas for all costs that are per person (and please use notes section for explaining your formulas). Assume all students will be in-state residents, assume the minimum number of students (usually 10) and a conservative exchange rate. Put in all possible cost estimates to be sure the program fee is sufficient to cover expenses. The budget can be exchanged electronically until finalized for VP approval – it’s a work in progress!
Budget Template
Basic knowledge of Microsoft Excel will be necessary for the required forms.
ex·cel: ik-sel
1. to surpass others or be superior in some respect or area; do extremely well.
2. a spreadsheet application used to calculate budget projections and to report expenses for study abroad programs.
Tuition and program fees
All tuition and program fees are included in funds to use for the program, exclusive of the JMU summer school department budgets.
Once the enrollment and pre-registration is complete, the oIP will confirm the program fee and apply charges to the students’ accounts.
It is the students’ responsibilities to sort out their financial aid.
Fees are due in full by the first week of summer school in May, no matter when the program starts.
Deposits and admissions
Once the admissions process has been completed in November/December, consider if there’s enough interest to move forward (continue recruiting, making additional arrangements with vendors abroad, etc.)
Deposits are non-refundable except in serious, extenuating circumstances that are described in the Cancellation/Withdrawal Form. Deposits cannot be transferred to other programs except if a program is cancelled, at which point students can apply to another program, and if accepted, the deposit can be transferred. Deposits cannot be transferred to other students.
Start and end dates
By mid-March, the program director will confirm the official “start” and “end” dates with the oIP. These dates are critical – the student will take action to purchase their plane tickets and make other arrangements. When a student submits a cancellation/withdrawal notice, the start date provided by the program director is used.
Students should be expected to arrive on the official start date and remain with the program for the duration.
Program directors are not responsible for making accommodations for who arrive early or stay later, nor are they responsible for the actions or governance of students before or after the inclusive start and end dates.
Payments to assistants
Duties can vary from program to program—some assistants organize group activities, some help to coordinate excursions, some help with financial management. The program director should document the duties and responsibilities to the oIP and to the assistant.
The oIP considers the following in determining the salary amount: the length of the program and the number of students.
Non-teaching assistants’ salaries pay for their own ticket and expenses. They will be paid by JMU Payroll which requires federal and state tax forms, completion of an I-9 employment eligibility form, and a criminal background check, and will be paid after the start of the program.
Air travel
For directors and other JMU staff: the oIP will process travel authorizations for all program directors and faculty teaching classes listed on the Budget Supplement B.
Plane tickets can be purchased more than 90 days in advance.
Students will be directed to purchase their tickets after the official start and end dates have been distributed by the oIP (by April 1). State regulations do not permit JMU faculty and staff to require students take a "group flight" or to make exclusive travel arrangements with a specific travel agency or airline on behalf of groups of students.
Making Air Travel Arrangements
Approved Travel Authorization required!faculty member sets tentative dates of travel
OIP processes travel authorization in Februaryfaculty member works with travel agent
for least expensive “coach” fares ticket cannot be purchased before TA is
approved
Option 1 (preferred):faculty member directs travel agent
to bill the OIP for ticketOIP processes payment for ticket
with JMU VISA credit card
most agents charge a $25-40 processing fee
Option 2:faculty member buys ticket
with personal funds OIP processes reimbursement after faculty member returns
receipt and credit card statement required
Getting to the Airport
Financial responsibilities
•submits draft budget projection on Excel template to OIP
•contacts hosts and vendors abroad to negotiate and confirm costs and logistics
•finalize budget to OIP by April 1
•submits completed expense summary report to Int’l Accounting
•returns debit card and leftover cash to Int’l Accounting
Program Director
•helps and reviews draft budget projection
•processes travel authorization, PAR forms, and pre-payments
•arranges cell phones, health insurance, books, equipment, and transportation
•approves budget and program fee
•process travel reimbursements for out-of-pocket expenses
•determines carry-over balance
OIP
•conducts training on managing funds abroad
•reviews budget projection
•issues wire transfers to vendors
•sets up bank debit accounts
•reviews expense report and reconciles accounts
•releases final salary to director
•prepares year-end financial statements
International Accounting
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