1. Sales and Services Funds

2. What is a Sales and Services Fund? Self-Supporting, non profit. Hint: As a non-profit fund your goal is to have your recharges or revenue equal your expenses. “Must break even over a three- year period.” Sales & Service Policy: UCLA Policy 340UCLA Policy 340

3. Purpose To provide support to academic units via recharges within the University or sales or products or services to multiple individuals or organizations outside the University at reasonable and equitable rates. See the APB website (www.apb.ucla.edu) to ensure that the proposed activity qualifies as a S&S activity. (e.g., Instruction, Research, and Community Services activities)www.apb.ucla.edu

4. Who qualifies to be a PI on a Sales and Service Fund? A faculty member in the Professorial Series. Must be a member of the Academic SenateAcademic Senate

5. How to Establish Sales and Service Fund Submit an application to Office of Academic Planning and Budget through DOM’s liaison, Tsegaye Teshome. Application includes Fund Application/Revision Template (Word), & Excel Template. All applications must be approved by the PI, Dr. Fogelman as Department Chair, and Judith Rothman in the DGSOM Dean’s Office. Please note, all S&S funds will be established as 6XXXX fund numbers.

6. Managing Sales and Service Funds The role of a fund manager: Monthly fund reconciliation to ensure that expenditures are in line with the approved application. A Revised Application is required for: Rate changes Methodology Subcodes Classes of customers Responsible faculty member change and/or dept.

7. Managing Sales and Service Funds (continued) If revenue is received (e.g. cash, checks, etc.), the fund manager is responsible for depositing it into the revenue account. (Hint: 2XXXXX-CC-6XXXX) Once revenue appears on the ledger, the fund manager is responsible for transferring the funds into the expense account via TOF. (Hint: 4XXXXX-CC-6XXXX) Work with DOM’s liaison, Tsegaye Teshome, on the annual review process. (Hint: Justifying end of year balance, revise application if needed)

8. Managing Sales & Service Funds (Continue) Fund Managers Fiscal Closing responsibilities: Must follow the June 1 st letter guidelines issued by Accounting. If applicable, prepare special reports to show the value of inventory and amount of accruals and deferrals of income and expenses that must be recorded in the June 30th General Ledger. All special reports must be submitted via DOM liaison.

9. Key points about Sales and Service Funds Keep in mind that at the beginning of each fiscal year each S&S fund will be appropriated with the amount requested on the approved application (aka your permanent budget), regardless of how much income is actually earned.

10. Closing Sales and Service Funds Why? PI is no longer providing the product or service. If the fund is being transferred to another Department/Division. Fund balance at closing must be zero. Submit a memo addressed to Craig Gill via DOM liaison, Tsegaye Teshome, requesting and justifying the account closure.

11. Contact Info: Do NOT contact APB directly For DOM: Assistance in completing the application and any questions on S&S funds contact Tsegaye Teshome, x68351, or via email tteshome@mednet.ucla.edutteshome@mednet.ucla.edu Office of Academic Planning and Budget: Craig Gill