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Prium Vienna 2008 Full Cost Model
 

Prium Vienna 2008 Full Cost Model

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Towards implementing a full-cost model of accounting at the University of Vienna, by Alexander Hammer

Towards implementing a full-cost model of accounting at the University of Vienna, by Alexander Hammer

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    Prium Vienna 2008 Full Cost Model Prium Vienna 2008 Full Cost Model Presentation Transcript

    • Towards implementing a full-cost model of accounting at the University of Vienna Alexander Hammer Head of Accounting and Finance
    • Legal Background
      • Universities are legal entities in public law since 2004
      • Large autonomy for universitites
      • Performance agreements (contracts in public law) between universitites and Federal Government
      • Funding of universities by Federal Government: allocation of a global budget for a three-year period
      • Formula-based budget (based on performance indicators such as graduates, third-party funding etc.: 20% of global budget
      • Yearly performance reports: submission with annual financial statements and based on performance agreements
    • Financial Management (Universities Act 2002)
      • Universities manage their financial affairs in their own name and for their own account
      • Federal government not liable for universities ’ debts
      • Large autonomy in financial matters
      • Accounting system according to Commercial Code (change in accounting principles: switch from government cash accounting to commercial accounting)
    • Upcoming Issues for Universities
      • Separation of teaching and research budgets?
      • Allocation of teaching budget based on number of students (per capita funding)?
      • Allocation of research budget based on performance indicators?
      • Introduction of full-cost models in research projects (EU grants etc.)
    • Full-cost accounting at the University of Vienna
      • Perfect integration with accounting system and existing cost centers
      • Definition of model in order to allocate overhead costs (personnel costs, rental costs, general and administrative costs etc.)
      • Definition of model (based on working time) in order to separate teaching and research costs
      • Certification of full-cost model by European Union planned in 2009