Federal regulations require diligence from academic institutions
Colleges and universities face many complex issues as they navigate the growing number of federal regulations. Institutions of higher education spend considerable financial resources to stay in compliance. Speakers at the 72nd annual meeting of the ORAU Council of Sponsoring Institutions clarified select regulations and presented practical solutions for overcoming hurdles.
The recent two-day meeting hosted by ORAU at Pollard Technology Conference Center involved nearly 150 attendees, and speakers addressed regulatory reform to compliance processes.
Keynote speaker Brett Sweet, vice chancellor for finance and chief financial officer of Vanderbilt University, observed the substantial increase in the magnitude of federal regulations since the 1950s and noted the administrative and enforcement expenses tied to these regulations.
“While some regulation is valuable, compliance and reporting add a material cost burden to post-secondary education. This is especially true for research institutions,” Sweet said. [Read more…]