Types of Revenue

Tuition and Student Revenue

The process by which students are assessed tuition and other fees related to matriculation, and the allocation of the associated revenue to the appropriate business units, is overseen by the Office of Billing and Payment Services. Rates for tuition and fees are determined annually by the Board of Directors, and published in the annual Financial Plan. Assessment of tuition and fees occurs on a daily basis, with the initial assessment for a given term posting to GMS Financial occurring according to the following schema:

Semester

Initial Assessment Date
Fall June 15th
Spring November 15th
Summer April 1st
  • The Office of Billing and Payment Services is unable to assess charges that do not fall within the framework of the current year’s Board of Director’s schedule of tuition and fees

  • Business units wishing to request specific revenue routing for certain programs must:

    • Present the request prior to the first assessment of the semester

    • Have a population of students that is clearly and distinctly identifiable in the student system (Banner)

    • Present a complete set of GMS Worktags

  • According to the principles of accrual accounting, revenue can only be recorded as such when it is earned; as such, tuition revenue is deferred throughout the semester in a process overseen by the Director of Financial and Accounting Systems

 

Grants and Awards

The University receives grant and contract revenue from governmental and private sources. The University recognizes most revenues associated with the direct costs of sponsored programs as the related costs are incurred. Revenues from private clinical trials are recognized when earned, generally when specific milestones are reached based on the agreements. Indirect costs recovered on federally-sponsored programs are generally based on predetermined reimbursement rates negotiated with the University’s cognizant federal agency, the Department of Health and Human Services. Indirect costs recovered on all other grants and contracts are based on rates negotiated with the respective sponsors

Gifts and Donations

The Office of Advancement should be contacted before accepting any gift or donations on behalf of the University.

Please refer to Policy FA 162 for questions related to employees accepting gifts from University vendors.

Other Revenue

Other revenue is typically generated by service agreements, sponsorships, revenue sharing arrangements, collaborations, and memorandums of understanding (MOU) that generate revenue for the University. See Revenue Generating Agreement Policy - FA 157