Required Reporting for FSEAs

Directive Statement

Fee-for-Service Educational Activity (FSEA) with annual revenue in excess of $1 million are required to submit to the Auxiliary Accounting Office semi-annually (as of 06/30/yy and 12/31/yy) the following:

• Analysis of revenue, expense, and cash information as compared to prior year activities
• Accounts receivable: 30-60-90-120 day summary with detail and explanation of amounts over 120 days

Other accrual information is required to be submitted only annually. (Ex. Deferred revenue, prepaids, inventory, other accruals).

Reason for Directive

To ensure Fee-for-Service Educational Activities are conducted in accordance with good business practices and with the laws, rules, regulations, and policies of the State of Florida and the University.

Who must comply?

All Fee-for-Service Educational Activities.

Procedures & Best Practices