Accreditation finance standard revised
On a recommendation from the Council on Education, the Executive Board approved changes in accreditation Standard 2, Finances. The council periodically reviews each accreditation standard to ensure that the requirements of the standards are clearly stated and appropriate to provide quality education. To ensure accuracy, the statement now reads:
Finances must be adequate to sustain the educational programs and mission of the college. Clinical services, field services and teaching hospitals must function as instructional resources. Instructional integrity of these resources must take priority over financial self-sufficiency of clinical services operations.
This last sentence previously read: "These instructional resources operations are not intended to be self-sufficient financially, and need to be subsidized to ensure their instructional integrity."
The revised statement more accurately reflects the current situation. While colleges report hospital revenues, it is difficult to accurately assess expenses. Faculty salaries, for example, are not included in teaching hospital expenses. Hospital revenues are generally used for supplies and equipment, and to employ some staff, especially technical support staff. The change in the standard was requested by the COE to more accurately reflect revenues and to prevent misunderstanding that it is inappropriate for the teaching hospital to generate revenue. The council gathered feedback and input from deans of accredited veterinary medical colleges and schools, and found that deans are comfortable with the change.