#GFATalks Transcript
Healthcare social media transcript of the #GFATalks hashtag.
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See #GFATalks Influencers/Analytics.
| Profile | Tweet |
|---|---|
 | Fostering Faculty @FosterFaculty #gfatalks Q1. Lets start with the basics: What is “organizational finance”? How necessary is it for faculty affairs professionals to know about institutional finances, budget details, and funds flow? |
 | Leigh Patterson @LeighPatterson Let's Go! #ShowMetheMoney! #GFATalks |
 | Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: Let's Go! #ShowMetheMoney! #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy @FosterFaculty Budget management, accounting, funds flow, ROI are critical parts of faculty affairs jobs #gfatalks |
| Leigh Patterson @LeighPatterson @FosterFaculty I did not realize initially in my role how important this would be. Money in our institution comes from several sources, all of which have their own restrictions and budget rules. Navigating this is complex! #GFATalks |
| Leigh Patterson @LeighPatterson @Wardwendy @FosterFaculty I agree completely but I wasn't prepared for this and I wonder how many of us were assessed on these topics and skills when we interviewed for our positions? #GFATalks @FosterFaculty |
 | Dr. Elaine Schulte @drelaineschulte Faculty retention is at least 1.5x the annual salary. #gfatalks |
| Fostering Faculty @FosterFaculty #gfatalks Q2. OK, so few of us came to our positions knowing much about finance. How hard is it to gain knowledge in organizational finance? How could you get that experience, or do you need additional degrees or certifications? |
| Leigh Patterson @LeighPatterson @drelaineschulte How are you using this in your annual budgeting process or in your work with finance folks at your institution? How do we use this knowledge to advocate for our financing? @FosterFaculty #GFATalks |
| Leigh Patterson @LeighPatterson @Wardwendy @FosterFaculty Not me!!!! #GFATalks @FosterFaculty |
| Dr. Elaine Schulte @drelaineschulte Great question. Would like to hear responses. So hard to make the case. Retention is not always in the faculty member’s nor the organization’s best interest. |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @Wardwendy @FosterFaculty I agree completely but I wasn't prepared for this and I wonder how many of us were assessed on these topics and skills when we interviewed for our positions? #GFATalks @FosterFaculty |
| Leigh Patterson @LeighPatterson @FosterFaculty I learned so muchdoing an informational interview of our lead financial officer as part of the @ELAMProgram. I realized afterward he would have been willing to meet with me anyway. Incidentally, I learned more about research funding from him. #GFATalks @FosterFaculty |
| Fostering Faculty @FosterFaculty RT @Wardwendy: @FosterFaculty Budget management, accounting, funds flow, ROI are critical parts of faculty affairs jobs #gfatalks |
| Leigh Patterson @LeighPatterson @FosterFaculty I was also called on to serve as an Interim Chair for a brief period in another department. The financial manager there, who did have that MBA, was probably the most helpful for understanding state funds and personnel financing! #GFAtalks @FosterFaculty |
| Fostering Faculty @FosterFaculty #gfatalks 7 Characteristics of a great financial leader includes communication skills, honesty, results-driven. https://t.co/rmUqP1QkXO |
| Leigh Patterson @LeighPatterson @drelaineschulte When we look at programming or funding for faculty as whole, I wonder if we shouldn't be trying to calculate a NNT for development? How much faculty development programming should we fund in order not to lose a faculty member? #GFATalks @FosterFaculty |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @FosterFaculty: #gfatalks 7 Characteristics of a great financial leader includes communication skills, honesty, results-driven. https://t.co/rmUqP1QkXO |
| Leigh Patterson @LeighPatterson RT @FosterFaculty: #gfatalks 7 Characteristics of a great financial leader includes communication skills, honesty, results-driven. https://t.co/rmUqP1QkXO |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @drelaineschulte: Faculty retention is at least 1.5x the annual salary. #gfatalks |
| Leigh Patterson @LeighPatterson @FosterFaculty I agree. We have so many systems with so many differing sources of finance that we need to connect within our systems. #GFATalks @FosterFaculty |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @FosterFaculty I agree. We have so many systems with so many differing sources of finance that we need to connect within our systems. #GFATalks @FosterFaculty |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @FosterFaculty I agree. We have so many systems with so many differing sources of finance that we need to connect within our systems. #GFATalks @FosterFaculty |
| Leigh Patterson @LeighPatterson @Wardwendy @drelaineschulte @FosterFaculty I think the balance also has to come between responsibility for the financing - central with the school/university and with the unit/department too. We are contemplating using foundation accounts to try to buffer against the challenges of state funding shortfalls. #GFATalks |
| Leigh Patterson @LeighPatterson @FosterFaculty @drelaineschulte I think this might refer back to an earlier conversation where we touched on #stayinterviews as a source for info on our #faculty wellbeing. #GFATalks |
| Leigh Patterson @LeighPatterson @Wardwendy @drelaineschulte @FosterFaculty So...our admin finance support today recommended that we consider making an "ask" of faculty who have completed program like #mentor program to support us in their charitable giving for year. I admit it never occurred to me!! @SalSyed4 @Alli_FlowersECU #GFATalks |
| Fostering Faculty @FosterFaculty #gfatalks Here is an organization you can consider joining: The Healthcare Financial Management Association (HFMA) helps its members—both individuals and organizations—achieve optimal performance by providing the practical tools and solutions, education, and strategic guidance |
| Leigh Patterson @LeighPatterson @drelaineschulte @Wardwendy @FosterFaculty @SalSyed4 @Alli_FlowersECU Compensation within departments or across disciplines too? #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @Wardwendy @drelaineschulte @FosterFaculty So...our admin finance support today recommended that we consider making an "ask" of faculty who have completed program like #mentor program to support us in their charitable giving for year. I admit it never occurred to me!! @SalSyed4 @Alli_FlowersECU #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @FosterFaculty @drelaineschulte I think this might refer back to an earlier conversation where we touched on #stayinterviews as a source for info on our #faculty wellbeing. #GFATalks |
| Leigh Patterson @LeighPatterson RT @FosterFaculty: #gfatalks Here is an organization you can consider joining: #gfatalks Here is an organization you can consider joining: The Healthcare Financial Management Association (HFMA) helps its members—both individuals and organizations—achieve optimal performance by providing the practical tools and solutions, education, and strategic guidance |
| Fostering Faculty @FosterFaculty #gfatalks Q3. What can organizations do to support a fiscally-minded leaders….? https://t.co/jtC5JFAB0g |
| Leigh Patterson @LeighPatterson @FosterFaculty Does anyone remember if we have tackled any of these topics at a GFA Meeting? I would love to see us consider this for some plenary and workshop time. @AAMCProfDev #GFATalks @FosterFaculty |
| Leigh Patterson @LeighPatterson @FosterFaculty One step should be responsibility - share the budget constraints early in the year. When we are able to ask for things - travel, support, and don't know how our superiors are funding them, we don't develop prioritization skills. #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @FosterFaculty Does anyone remember if we have tackled any of these topics at a GFA Meeting? I would love to see us consider this for some plenary and workshop time. @AAMCProfDev #GFATalks @FosterFaculty |
| Leigh Patterson @LeighPatterson Transparency!!! I am beginning to think this needs to begin in #orientation with a sample excel spreadsheet of a funded program in the institution. #GFATalks @FosterFaculty |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: Transparency!!! I am beginning to think this needs to begin in #orientation with a sample excel spreadsheet of a funded program in the institution. #GFATalks @FosterFaculty |
| Fostering Faculty @FosterFaculty #gfatalks Q4. Any other thoughts about organizational finances? Any resources out there? |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: Transparency!!! I am beginning to think this needs to begin in #orientation with a sample excel spreadsheet of a funded program in the institution. #GFATalks @FosterFaculty |
| Leigh Patterson @LeighPatterson @FosterFaculty I think our #facdev offices need to be linked or at least understand the budgeting the primary units in our shops. In my case, that is departments with traditional chairs. For others, might be different. #GFAtalks @FosterFaculty |
| Leigh Patterson @LeighPatterson @FosterFaculty One of the tables in this article describes the sources of programming across institutions and a move to share cost between departments and the #FacDev office. Did not describe completely how we should share or balance programming needs. We should be budgeting together. #GFATalks |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @FosterFaculty One of the tables in this article describes the sources of programming across institutions and a move to share cost between departments and the #FacDev office. Did not describe completely how we should share or balance programming needs. We should be budgeting together. #GFATalks |
| Leigh Patterson @LeighPatterson @Wardwendy @FosterFaculty @AAMC These have been so helpful and I would like to see a per faculty member yearly spending on #facdev programming and #mentorship (if you allocate funds). #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @Wardwendy @FosterFaculty @AAMC These have been so helpful and I would like to see a per faculty member yearly spending on #facdev programming and #mentorship (if you allocate funds). #GFATalks |
| Leigh Patterson @LeighPatterson @AAMCProfDev Can you help us out? #GFATalks |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @AAMCProfDev Can you help us out? #GFATalks |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @Wardwendy @FosterFaculty @AAMC These have been so helpful and I would like to see a per faculty member yearly spending on #facdev programming and #mentorship (if you allocate funds). #GFATalks |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @FosterFaculty I think our #facdev offices need to be linked or at least understand the budgeting the primary units in our shops. In my case, that is departments with traditional chairs. For others, might be different. #GFAtalks @FosterFaculty |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @AAMCProfDev Can you help us out? #GFATalks |
| Fostering Faculty @FosterFaculty This concludes our #GFATalks Twitter Chat. What a great discussion!!!! Thank you for joining! Remember, #GFATalks every second Tuesdays at 7pm CST/8pm EDT. Got a good topic idea? Message @pattersonleigh or @wardwendyl https://t.co/FQvRBixQWU |
| Leigh Patterson @LeighPatterson @AlexisLRossi1 @FosterFaculty I really like this!!! Would help with a "pulse check" on faculty throughout too. #GFATalks |
| Fostering Faculty @FosterFaculty RT @LeighPatterson: @AlexisLRossi1 @FosterFaculty I really like this!!! Would help with a "pulse check" on faculty throughout too. #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy RT @LeighPatterson: @AlexisLRossi1 @FosterFaculty I really like this!!! Would help with a "pulse check" on faculty throughout too. #GFATalks |
| Wendy L Ward, PhD, ABPP, FAPA @Wardwendy Thanks to @facultyfocused and the AAMC GFA for this Twitter Chat series!!! |
#GFATalks content from Twitter.