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Web Products and Services

Tools – Checklist Bonds

• Purpose – The bond checklist is a tool for identifying debt capacity and the procedures for arranging a bond issue.
• Description – the checklist covers the major processes that need to be done to prepare for a bond issues, such as: financial analysis, hiring bond counsel, working with credit analysts, setting up documents needed for the bond issue, arranging for the bond issue, and preparing the record system for the bonds.

Tools – Checklist Loans

• Purpose – The loan checklist is a tool for identifying debt capacity and the procedures for arranging a loan.
• Description – the checklist covers the major processes that need to be done to prepare for loan, such as: financial analysis, working with credit analysts, setting up documents needed for the bond issue, and preparing the record system for the loan.

Tools – Common Higher Education, Business, and Credit Rating Ratios

• Purpose: to provide CFOs with a set of commonly accepted business, higher education, and credit rating ratios
• Description: the spreadsheet includes the ratio factors that can be computed for a five year period which permits trend analysis.

Tools – Dashboard

• Purpose: to provide CFOs, presidents, and other chief administrators with a template for reporting on the financial condition of the institution and major variables that influence the financial condition.
• Description: the dashboard includes these reporting sections (these sections can be customized to fit the structure of each college):
  • Finance
    • Critical Financial Measures
    • Tuition and Fees
    • Grants, Gifts, and Other Revenue
    • Summary Financial Report
    • Major Capital Projects
  • Enrollment by headcount, full-time equivalent, full-time students, part-time students, and credit hours
  • Admissions by total admissions, undergraduate, and other degree or program levels
  • Sections and Average Class Size
  • Retention and Graduation
  • Employees: total headcount, pay and benefits
  • Productivity Measures, which include a set of standard measures of productivity.

Tools – Depreciation

• Purpose: to provide CFOs and institutions with a tool for estimating depreciation for new capital projects.
• Description: the spreadsheet computes first five years of depreciation on new capital projects and combines these figures with the historic depreciation.

Tools – Financial Aid Matrix

• Purpose: to provide institutions of higher education with a basic financial aid matrix to manage the distribution of scarce financial aid dollars.
• Description: the matrix is a test bed for selecting variables and distribution percentages for an incoming class of first year students.

Tools –Fixed Debt Payments

• Purpose: to provide CFOs and institutions with a tool to estimate principal and interest payments on long-term debt
• Description: Fixed debt payments can be computed using different maturities, interest rates, and principal amounts.

Tools – Net Present Value

• Purpose: to provide CFOs with a basic financial tool to estimate the relative financial values of multiple projects.
• Description: The template uses interest rates, time periods, principal values to conduct a classic net present value analysis.

Tools – Formulas for Different Methods for Computing the Time Value of Money

• Purpose: to provide CFOs and other data managers with basic formula for estimating the time value of money
• Description:the following time value templates are included:
  • Simple Interest Rates
  • Computing Discount Values
  • Rule of 72
  • Finding the Number of Periods for Loans/Bonds
  • Present Value of Multiple Cash Flows
  • Annuities
  • Present Value of Annuities
  • Computing Capital Amount that an Institution Can Afford
  • Calculating Payoff of a Loan
  • Computing the Number of Periods to Payoff of a Loan/Bond
  • Future Value of Annuities
  • Present Value of an Annuity in Perpetuity
  • Effective Annual Interest Rate
  • Effective Annual Interest Rates & Annual Percentage Rate
  • Pure Discount Loans
  • Interest Only Loans
  • Amortized Loans

Analytics – Department of Education (DOE) Financial Test of Responsibility Template

• Purpose: to provide CFOs and institutions with a template for computing their Department of Education (DOE) score.
• Cautionary Note: the DOE scoring rules may change or may be in interpreted differently; before using this template an institution of higher education should consult the DOE regulations and their auditor.
• Description: the template follows the DOE rules as of 2010.  The test is used by DOE to determine if a institution of higher education has the financial capacity to deliver a college degree to its students.

Analytics – Financial Condition, Marketing, and Management Diagnostics

• Purpose: to provide key administrators with a comprehensive tool to conduct a thorough analysis of the strategic condition of their institution.
• Description: This diagnostic tool includes these sections:
  • Financial Diagnostics – operations, drivers, working capital; long-term capital; financial performance; Composite Financial Index (CFI),  and financial distress
  • Marketing Diagnostics – competition and market analysis
  • Management and Oversight Diagnostics
  • General Management Diagnostics

Analytics – Three Key Analysis Sheets

• Purpose: to provide CFOs and institutions with worksheets that focus on three key methods for analyzing the income and cash flows: underlying financial structure flows, marginal analysis, and cash flow.
• Description:
  • Underlying Financial Structure – examines the flow of revenue through expenses over a five year period to determine where changes in revenue and expenses have had an effect on the flow of revenue. The flow of revenue and expenses and the changes in those flows within and between years have an effect on financial condition.
  • Marginal Analysis – examines the scale of changes in revenue and expenses between years and over five years.  The change in revenue and expenses shows how changes influence financial condition.
  • Cash Flow Analysis – examine the source and uses of cash within a year and over a period of years.  The sources and uses of cash have a significant impact on financial condition.

Forecast Level 1 – Quick Budget Estimator

• Purpose: To provide CFOs and Presidents with a quick estimating tool for setting budget parameters.
• Description: the Estimator tests revenue, fixed expenses, and third party expenses to estimate excess revenue available for new hires and discretionary expenses.  In addition, there is a simple capital expense worksheet.

Analytics – Custom Designed Responsibility Centered Models

• Purpose: to provide the president, chief academic and chief administrative officers with an analytic system to identify the full-cost net revenue from revenue producing programs (programs can include academic, athletic, fund-raising, or any other program that generates revenue for the institution).
• Description: Responsibility Centered Management –
  • Organizes revenue and expenses around each revenue generating program in the institutions
  • Revenue for each academic program is discounted for its allocation of financial aid
  • Instructional expenses are distributed by credit hours
  • Credit hours are allocated according by academic major and distributed to the programs where courses are taken
  • Tuition revenue is then priced by credit hour and direct instructional expenses are distributed by credit hour
  • Grant revenues and expenses are assigned by program
  • Program net income is identified after the allocation of revenue and direct expenses
  • Full cost net income is identified after allocation by program of administrative and other expenses

State Licensure Program:  Joint Project of Stevens Strategy, LLC® and Figuli Law Firm

Compliance with Department of Education State Licensure Requirements

The U.S. Department of Education has mandated that by July 1, 2014, all institutions of higher education must show good faith efforts towards compliance with 34 CFR 600.9(c) which states:

“If an institution is offering postsecondary education through distance or correspondence education to students in a State in which it is not physically located or in which it is otherwise subject to State jurisdiction as determined by the State, the institution must meet any State requirements for it to be legally offering postsecondary distance or correspondence education in that State. An institution must be able to document to the Secretary the State’s approval upon request.”
An institution is required to obtain approval from a state regulatory agency if the institution’s activities trigger a “presence” in the state. The definition of presence and the activities that trigger it vary greatly from state to state. The rules and procedures governing compliance are challenging to navigate and require a solid understanding of the technicalities and legal nuances associated with regulatory compliance management.

Due to the ever-changing nature of the regulatory framework, risk management has become a significant issue. Conflicting requirements can result in unintended consequences that can have a severe negative impact on an institution’s business model. When institutions offer instruction to students in various states through online delivery, protecting the “home institution” from undue regulatory reach and limiting exposure to site visits of the “home campus” by regulators from other states becomes crucial.  The expertise in knowing how and when to “push back” against unreasonable and illegal requests from regulatory bodies is vital to the efficient operation of the institution.

Stevens Strategy®, LLC has partnered with Figuli Law Group to analyze each state’s licensing requirements and to offer our clients comprehensive services to respond to this regulatory morass.  Together, Stevens Strategy and Figuli Law Group have well over 50 years of experience in advising colleges and universities in the US and throughout the world.

We have spent more than 200 hours collecting information from each state to develop our State-by-State Survey.  The experience and the contacts we have gained through our direct work with those state licensing agencies have given us knowledge of the “real” licensing requirements, enabling us to provide unparalleled guidance tailored to your institution’s needs.

Our services range from the provision of a report summarizing each state’s licensure requirements and contact information (State-by-State Survey), to preparing state-by-state registration and exemption applications, to completing applications for licensure in each applicable state.

The cost of compliance depends on the level of service your institution requires, which will be determined by your answers to a brief questionnaire.  The questionnaire ascertains your state-by-state compliance profile based upon your activities within each state.
The services we provide are customizable and will be determined based on your institution’s compliance profile and the filing requirements that are necessary in each applicable state. The requirements of a limited number of states are very extensive, equivalent to an accreditation application, so prices vary–in some cases dramatically–by state.

PRICING TABLE FOR LICENSURE SERVICES

MASTER MODEL POLICY LIST

Volume I – Governance and Administration

Model Board Bylaws
Model Faculty Senate Bylaws
Model Student Government Association Bylaws
Model Alumni Association Bylaws
Board Conflict of Interest Policy
Executive Compensation Policy
Form 990 Filing Policy
Responsibilities of Board of Trustee Members
Policy Development and Approval
Substantive Change Reporting

Volume II – Community Policies

General Institutional Policies
Appearances before Government and Accreditation Agencies
Assumption of the Risk
Children on Campus
Confidentiality of Student Records (FERPA)
Demonstrations
Disability (ADA) Policies

• Employees and Applicants with Disabilities
• Students with Disabilities
• Reasonable Accommodations at Campus Events

Equal Opportunity
Gambling
Non-discrimination and Anti-harassment (Title IX)
Pets
Political Activities
Posting and Advertising
Reservation and Use of University Facilities
Solicitations
Visiting Speakers and Performers
Whistleblowers

Health Policies           
Drug and Alcohol Use
Serving Alcohol at University Sponsored Events
Drug Free Schools and Communities Act
Communicable Diseases
Health Insurance Portability and Accountability Act

Environmental Policies
Control of Hazardous Energy Sources
Disposal of Universal Waste
Exposure to Blood Borne Pathogens
Hazard Communication Program
Laboratory and Workshop Safety
Personal Protective Equipment
Refrigerant Management
Smoking Policy

Campus Safety and Protection Policies        
Federal Campus Safety Disclosure Policies

• Federal Crime Awareness and Campus Security Act
• Campus Fire Safety Right-to-Know
• Sex Offender Registry
• Suzanne’s Law

Campus Safety and Protection Policies
Campus Access
Campus Emergency Response
Fire Regulations
Key and Access Cards
Missing Students
Use of Motorcycles, Mopeds, Bicycles, Rollerblades, or Skateboards in Campus
Persona Non Grata
Personal Property
Security Cameras on Campus
Sexual Assault
Student Death
Violence on Campus
Weapons

Information Technology Policies
Acceptable Use of University Information Technology
Information Technology Security Plan
Gramm-Leach-Bliley Act Information Security
Passwords
Peer to Peer File Sharing
Red Flag Program
Use of Social Media
University and Departmental Web Sites
Faculty and Staff Web Pages
Use of Computer Labs
Use of Electronic Devices on Campus
Information Technology Change Control

Public Relations Policies
Advertising and Publications
Media Relations
Photography, Videotaping, and Filming
Official University and College Logos
University Publicity

Institutional Advancement Policies
Authority to Solicit and Accept Charitable Gifts         
Gift Acceptance Guidelines
Naming of University Facilities, Space, Endowments, and Programs

Copyright Policies     
Copyright Guidelines

• Fair Use Factors
• File Sharing And Peer-to-Peer Software Programs

Digital Millennium Copyright Act
TEACH Act
Ownership of Copyrightable Materials and Patents

Volume III – General Employment Policies

Employee Status
Employee Categories
Employment at Will
Position Description Policy

Employment Policies 
Administrator and Staff Appointments
Background Screens
Immigration Law Compliance
Probationary Period
New Hires Reporting
Re-Employment

General Personnel Policies
Appearance and Dress
Arrest and/or Conviction of Employee
Attendance and Punctuality
Business Expenses
Confidential Information
Conflict of Interest
Employee Conduct
Outside Employment
Personal Relationships
Record Retention
References
University Property
Use of University Letterhead
Use of University Telephone and Mail Systems
Work Schedule
Workplace Privacy
Meal Periods

Personnel Records     
Confidential Personnel Files
Data Changes
Right to Access
Subpoena of Employee Records

Leave of Absences     
Family and Medical Leave
Military Leave
Personal Leave
Sick Leave

Legislative Benefits
Benefits Continuation
Social Security
Unemployment Compensation
Workers’ Compensation Insurance

Miscellaneous Benefits          
Tuition Waivers

Performance Evaluations
Administrative Staff Evaluations
Staff Evaluations

Promotions    
Administrative Staff Promotion
Staff Promotion

Payroll and Salary
Overtime
Direct Deposit
Deductions
Garnishment of Wages
Administrative Pay Corrections
Time Keeping

Constructive Discipline and Separation from Employment 
Administrative and General Staff Constructive Discipline
Administrative and General Staff Separation

• Resignation
• Dismissal for Cause
• Discontinuation

Employee Grievances

Volume IV – Faculty Policies

Faculty Status
Ranked Faculty
Instructor
Assistant Professor
Associate Professor
Professor
Adjunct Faculty
Lecturers
Faculty-in-Residence

Special Status Faculty   

• Emeritus Status
• Affiliated Faculty
• Visiting Faculty

Faculty Contracts
Types of Contracts

• Term
• Annual
• Tenure
• Terminal

Issuance of Faculty Contracts
Variance of Contract Terms

Search and Appointment of Faculty
Procedures For Faculty Appointment
Joint Appointments
Location of Appointment
New Faculty Orientation

Faculty Personnel Records   
Faculty Personnel Files
Access to Files
Maintenance of Records

Faculty Evaluation
Faculty Evaluation Criteria

• Teaching and Academic Advising
• Scholarship and Professional Activities
• Service

Faculty Evaluations
Annual Evaluation
Promotion in Rank and Tenure Evaluation
Post-tenure Review

Faculty Rights
Academic Freedom
Due Process
Fair and Respected Treatment
Shared Governance

Faculty Responsibilities         
Academic Duties and Responsibilities
Academic Citizenship
Academic Program Support
Curriculum Development
Library Resources
Compliance with Laws and University Policies
Outside Employment and Activities
Use of Faculty Titles and University Resources

Faculty Separation
Resignation
Non-reappointment
Notice of Non-reappointment
Dismissal
Action Short of Dismissal
Curricular Change and Academic Program Reorganization or Discontinuation
Financial Exigency
Severe Mental or Physical Illness

Faculty Grievances

Volume V – Academic Policies

Admissions Policies
Criminal History Background Screens

Financial Aid Policies
Satisfactory Academic Progress
Taxation of Scholarships
Student Employment and Work Study Policies:

• Dress Policy
• Displacement of Regular Workers
• Breaks
• Work Performance and Termination of Employment
• Student Release from Work Commitment
• Adjustments to the Work Schedule
• Injury on the Job

Registration Policies
Auditing Courses
Closed Class Permission
Course Cancellations
Course Withdrawal
Course Substitutions and Waivers
Cross Registration
Pre-requisite Overrides
Repeating Courses
Schedule Overloads
Time Conflicts
Leave of Absence
Transcript Requests
Lost Diploma Requests
Withdrawal from the University

Academic Support Services   
Academic Accommodations
Change of Academic Advisor

Academic Policies
Academic Grievances
Academic Integrity
Changes in Degree Requirements
Final Grade Appeals
Academic Standing and Dismissal
Examination Rules and Procedures

Classroom and Laboratory Management Policies
Admission to Class
Class Attendance
Observance of Religious Holidays
Class Cancellations
Classroom Conduct
Course Syllabi

Curriculum and Academic Program Development and Change
Syllabus and Minor Curriculum Changes
New Program Development
Placing a Major on Admission Hiatus or Elimination
Department or Degree Program Discontinuation
Substantive Change Reporting
Requesting Accreditation of a New Degree Program

Research Policies       
Research Ethics and Conduct Guidelines
Principal Investigator Policy
Human Subjects Research
Animal Subjects Research
Retention of and Access to Research Data
Sponsored Research Project Administration
University Sponsored Research Project Administration
Trade Control

Volume VI – Student Life Policies

Residence Life Policies and Standards of Conduct
Alcohol and Drugs
Amplified Instruments/Musical Instruments
Appliances
Barbecues and Grills
Confiscated Items
Damages/Vandalism
Damage Charges and Billing
Decorations
Doors
Furniture
Gambling
Guests and Host Responsibilities
Children
Overnight Guests
Hall Meetings
Late/Improper Checkout
Liability
Pets and Animals
Pregnancy
Prohibited Items
Quiet and Courtesy Hours
Railings, Balconies, Roofs, and Stairwells
Residence Hall Postings
Restricted Areas
Room Access
Lockouts
Room Care
Room Changes
Room Entry
Room Occupancy
Sales, Solicitation, and Canvassing
Screens
Smoking
Sports and Activities
Windows, Balconies, and Hallways

Student Code of Conduct      
Acts of Dishonesty
Alcohol and Other Drugs
Assault
Bullying
Campus Disruption
Complicity
Computing Devices and University Network Misuse
Dangerous Materials and Firearms
Discrimination and Harassment
Dress Code
Endangerment
Failure to Comply
Fire Safety
Gambling
Harassing Behavior
Hate Incidents
Hazing
Improper Off-Campus Behavior
Improper Use of University Information Technology
Notification of Criminal Arrest
Misappropriation
Misuse of University Identification Card
Parking Sticker Fraud
Sexual Assault
Social Networking Violations
Tampering with Property
Trespassing and Soliciting
Violation of University Policy

Conduct Review
Model Conduct Review Policy and Procedures
Sanctions
Appeals
Parental Notification of Violations of the Code of Conduct

Student Rights
Rights and Freedoms
Academic Rights
Procedural Rights
Access to Personal Information

Student Responsibilities     

Student Activities and Organizations           
Student Organization Approval Procedures
Fundraising Events
University Liability
Student Travel

Non-Academic Student Grievance Policy

Volume VII – Business and Financial Affairs Policies

Accounting Policies   
Fiscal Year
Revenue Recognition
External Audits
Receipt of Funds
Fixed Asset Management and Capitalization

Budget Policies
Fiscal Year Budget
Fiscal Budget Approval Process
Submission of Detailed Budgets
Capital Project Budgets
Budget Accountability
Budget Adjustments
Fiscal Year End Budgetary Transactions

Finance Policies         
Contracts
Debt Policy
Investment Policy
Purchasing Policy

Strategic Planning – Components of Strategic Planning

• Purpose: to explain the major components of strategic planning and how they are applied to the development of a strategic plan
• Description: this paper covers the following components in the development of a strategic plan:
  • Mission Statement
  • Goals
  • Objectives
  • Action Plan
  • Performance Assessment Plan

Strategic Planning – Use of Debt

• Purpose: to explain considerations in the strategic use of debt
• Description: topics include:
  • Should the college take on debt?
  • Alternatives to debt
  • Financial Plan with Debt
  • Establishing a Debt Strategy – debt capacity, debt portfolio, policies and practices, and  management oversight,
  • Bonds – yields and interest, yield curve, fixed rate, variable rates,
  • Municipal Bonds
  • Off Balance Sheet Financing
  • Federal Tax Laws
  • Taxable Debt
  • Security, Credit Ratings, and Credit Enhancement
  • Assessing Capital Markets
  • Participants
  • Borrowing Process, Checklist for Debt Issuance, Bond Documents, and Cost of Issuing Bonds
  • Managing Existing Debt

Strategic Planning – CFI (Composite Financial Index) with Debt: Analysis and Planning

• Purpose:
  • Uses CFI to identify where changes need to made in financial strategy to improve CFI scores
  • Uses CFI to develop a balanced financial strategy
• Description:
  • The CFI form assumes that the college has debt
  • Historic audit data is used to identify the CFI trend and the last audited year as the benchmark
  • Factors in the CFI ratio can be varied to test which changes improve the CFI score.

Strategic Planning – CFI (Composite Financial Index) with No Debt: Analysis and Planning

• Purpose:
  • Uses CFI to identify where changes need to made in financial strategy to improve CFI scores
  • Uses CFI to develop a balanced financial strategy
• Description:
  • The CFI form assumes that the college does not have or has a very low level of debt
  • Historic audit data is used to identify the CFI trend and the last audited year as the benchmark
  • Factors in the CFI ratio can be varied to test which changes improve the CFI score.

Strategic Planning – Cyert Equilibrium Model – Strategic Grid

• Purpose: to provide the president, board, and chief financial officer a method of measuring financial and economic equilibrium
• Description
  • Cyert Axioms: Economic equilibrium is a state that defines the long-term financial viability of an institution of higher education. Richard Cyert defined the conditions needed to achieve economic equilibrium as:
• The organization fulfills its mission with adequate quality and quantity.
• The organization maintains the purchasing power of its financial assets.
  • The organization maintains needed facilities in satisfactory condition.
• The model estimates the financial parameters needed to achieve a state of dynamic equilibrium (dynamic equilibrium is a multi-year period).  The parameters in the model are:
  • Change in operational net assets
  • Cash position
  • Capital Assets – deferred maintenance
  • Endowment  –  over draw
  • Rapids, Michigan.
• Reference: Ruger, A., J. Canary, and S. Land.; (2006); “The President’s Role in Financial Management” in A Handbook for Seminary Presidents; edited by G. Lewis and L.; William B. Erdman Publishing Company; Grand

Forecast Level 2 – Five Year Forecast Estimator for Revenue and Expense Functions

• Purpose: To test financial forecasts using a basic financial planning model for a five-year period.
• Description: the Estimator tests forecasts using the following worksheets:
  • Historic Data
  • New Revenue Departments linked to the Financial Planning Model
  • New Expense Departments linked to the Financial Planning Model
  • New Capital Projects linked to the Financial Planning Model
  • Endowment and Interest Forecast linked to the Financial Planning Model
  • Financial Planning Model (FPM) that integrates data from new departments, capital projects, and endowment and interest forecasts with existing revenue and expenses and applies a set of algorithms to produce a net income and gross cash forecast.  The FPM permits the institution to make changes in the following variables in the existing revenue and expense structure:
    • Revenues:
      • Enrollment
      • Tuition and Fee rates
      • Tuition Discounts
      • Auxiliary, Grants, and Gift Income
    • Functional Expenses
      • Payroll and Benefits
      • New hires in addition to enrollment variability
      • Taxes
      • Other Expenses
      • Preset expense variability linked to enrollment

Forecast Level 3 – Custom Designed Financial Planning Model (FPM)

• Purpose: to provide a custom designed financial planning model that takes into account the unique financial characteristics of the financial structure of an institution so that the CFO, President, and Chief Administrators can make precise financial forecasts over a five year period.
• Description: the customized five and ten year financial planning model provides CFOs and institutions with a fine tuned forecast of net income.  Stevens Strategy will meet with institutional administrators as assigned by the president to develop the FPM.
  • Tuition rates by program and location
  • Enrollment detail by location, department, program, and tuition rate
  • Expenses by function, department, program, and location
  • New revenue and expense departments,
  • New capital projects
  • Detailed analysis of endowment forecasts and draws
  • Funding campaign options
  • New hires in addition to hires based on enrollment growth
  • Alternative variability linked to enrollment growth
  • Forecast Outcome Options – low, medium, and high forecasts
• Purpose – to provide colleges and universities offering programs in several states a process for licensing those programs in those states
• Description – the State Licensure program is custom designed for each school and each program and prepares the necessary documentation and steps to apply for licensure in any state.

Tools – Operational Planning System (Custom Designed for clients)

• Purpose: a custom designed planning tool that lays out critical milestones for operational plans

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