Managing Finances

The Educational Planner is responsible for the management of all financial activity associated with the CME activity.

Honoraria

The Medical School has established general guidelines for guest faculty honoraria.. Approval for an exception to the honoraria guidelines (any honorarium over $1,500) must be obtained in advance of the activity. Reasons for higher than normal honoraria include: an unusually high number of hours worked or the honorarium being part of a special recognition (e.g., a named lectureship).

Educational Planners should contact Debra Komorowski (dkomorow@umich.edu), Director of Faculty Affairs, to discuss specific requests. Without prior approval, amounts outside the guidelines may not be paid.

Budget

A budget is required for all activities that:

  • Are jointly provided with other schools at the University of Michigan (e.g., School of Pharmacy, School of Engineering), or external groups or organizations (e.g., specialty societies, non-profit 501(c) organizations).
  • Receive commercial support (financial or in-kind gifts/contributions)

A draft budget must be submitted with the application. A final budget is required as part of the Activity Close Out.