Residency Education Fund

From U of M Internal Medicine Wiki
Policies
Policy: Residency Education Fund
Policy Nr:
Target Review Date: 2018-07-01
Main Stakeholder: Managing Director


Definition

The Residency Education Fund (REF) is a fund established using money generated by training Visa trainees. Funds from these outside agencies or countries are paid to the University of Manitoba and partially allocated to the Department of Medicine.

Accumulation of Funds

The University of Manitoba has a standard agreement for externally funded residents. This agreement specifies payment of funds to the University of Manitoba which are then distributed to the Department where the resident is training. Within the Department of Internal Medicine externally funded residents are trained in the following programs:

Funds from external residents in any of these programs will be allocated to the Department of Medicine and managed according to the following policies.

In order to balance and smooth the yearly fluctuations of the fund, the Department of Internal Medicine will contribute from tithe/overhead funds (Practice Plan) up to any amount necessary to ensure funding is stable year-to-year

  For 2018, set at $201,000 

In years when contributions from the University exceed this set amount, the Department of Internal Medicine will retain that excesses to support resident education including Spring Internal Medicine Resident Retreat, CaRMS Match, and Special Events.

Governance of Funds

The REF is overseen by the Residency Education Fund Committee.

The Committee Chair will report to the Postgraduate Medical Education Committee every six months.

Approval of the majority is required when funding allocation decisions are made. The Committee will keep minutes of deliberations. These minutes will be available to the Postgraduate Program Directors mentioned above.

The funds will be held in an account managed by the Managing Directorand dispersed as directed by the Committee. Funds will be tracked using the FAST system.


Mission of the Fund

The REF Fund will support postgraduate medical education in the Department of Internal Medicine. To this end the committee should ensure that each of the Programs listed above is provided with an annual allocation of funds to support their postgraduate education mission.

The education mission includes Resident Travel, Resident Research Day and other expenses to support postgraduate education.

The Managing Director will propose an allocation for the Committee's consideration - final approval is with the committee.


Allocation of Funds

Standards

Any proposed allocations must accomplish:

  • Base of $1,000 for each sections regardless of number of residents (including none)
  • Funding to cover Resident Travel
  • Funding to cover some mandatory courses some section(s) may have
  • Standard amount for each Resident


Calculating the Allocation

The 2017 allocation of funds (and proposed for 2018) is based on the number of residents in each section:

Proposed Allocation
Allocation per program: $1,000
Each Visa Trainee: $ 300
Each non-Visa PGY1 $1,000
Each non-Visa PGY2-3 $2,000
Each non-Visa PGY4-6 $1,300

A program can calculate an expected allocation based on the above figures.

  Example: Sub-specialty with one Visa Trainee, two non-Visa PGY4, three non-Visa PGY5 residents.
           $1,000 + (1) x $300 + (2+3) x $1,300 = $7,800

  Example: Core Internal Medicine with three Visa Trainees, ten non-Visa PGY1, fifteen non-Visa PGY2 and twelve non-Visa PGY3.
           $1,000 + (3) x $300 + (10) x $1,000 + (15+12) x $2,000 = $69,500
  
  Example: Sub-specialty with no residents
           $1,000 + (0) = $1,000

Any difference between the above calculations and the budget, will be placed in a #Supplementary Travel Fund

Terms of Reference for Awarded Funds

Annual Funding Allocated to Individual Programs

  • Funding will be approved by the Committee, but the money will remain in the Department of Internal Medicine Business Office and will be managed by the Department of Internal Medicine Managing Director.
  • These funds are subject to the level of accountability applied to University of Manitoba Funds. Receipts must be submitted.
  • Allocations will be loaded by the Finance Manager as budgets into the 340901 Org.
  • All expenditures must be through the University FOAPs in 340901.


Approved Uses

Programs can use the annual funding provided from REF for the following activities. These items must be obtained through the Department of Internal Medicine Managing Director, and receipts need to be submitted. Each Program PGME committee should develop a process to decide upon how the money allocated from this source will be used. Possible uses of the REF annual funds are:

  • Purchase of books, journals, computer programs or other educational materials for the training program. (Link to U of M Bookstore Authorization form - [1])
  • Purchase of equipment to improve resident education in the training program.
  • Purchase of office supplies and photocopying for the residents in the training program and the Program Administrator of the training program.
  • Support of courses, seminars, or exams for the residents in the training program. This could include honoraria for lecturers, visiting professors, or external examiners.
  • Purchase of programming or other expertise for Resident education or research.
  • Purchase or upgrades of computer hardware or peripherals for the residents and the Program Administrator in the training program.
  • Support of Resident Research within the training program.

Excluded Uses

  • These funds cannot be used for catering, purchase of alcoholic beverages, or entertainment expenses.
  • No salary support should be provided by this fund.
  • The fund will not be committed to support any item on a continuing annual basis. Support for items may be renewed on an annual basis subject to committee rules and availability of funds.


Other Issues

Allocations from the University exceeding the Department's Budget


Additional Funds Made Available During the Year

  • If additional funds are made available during the year, the Committee will establish and publicize deadlines for applications.


Supplementary Travel Fund


Carryovers

Programs may not spend their allocations during the year. Remaining funds do not automatically carryover to the following year.

Postgraduate Program Directors are welcome to commit funds from the current year for expenditures in the following year(s). These commitments must be approved by the committee.

By February 15 each year, PGME Directors must send an email/letter to the committee Chair explaining what the carryover funds will be used for in the following year(s).

  For example: Wishing to carry over $500, to combine with $500 in the following year for the purchase of a new laptop.
               Wishing to fund a major conference three years from now, and holding $800 each year, for three years.

Any approvals will be granted by February 28, and the Finance Manager and Managing Director will make adjustments to the following year's allocations.


Accounting of Monies

An up-to-date accounting of the annual expenditure by program is easily obtained via University accounting system FAST. All expenses must be put through FAST, Org Unit 340901. Allocations will be loaded by the Finance Manager as budgets into the 340901 Org.

127991 Resident Ed Fund - Core Internal Med.
127976 Resident Ed Fund - Clinical Allergy
127977 Resident Ed Fund - Cardiology
127975 Resident Ed Fund - Critical Care
127978 Resident Ed Fund - Endocrinology
127979 Resident Ed Fund - Gastroenterology
127990 Resident Ed Fund - Gen. Internal Med.
127980 Resident Ed Fund - Geriatric Medicine
127981 Resident Ed Fund - Hematology
127983 Resident Ed Fund - Oncology
127982 Resident Ed Fund - Hepatology
127984 Resident Ed Fund - Infectious Disease
127985 Resident Ed Fund - Nephrology
127986 Resident Ed Fund - Neurology
127987 Resident Ed Fund - Phys. Medicine
127988 Resident Ed Fund - Respiratory Med.
127989 Resident Ed Fund - Rheumatology


Process

Before March 31st, all sections (Postgraduate Program Directors or the Program Administrator) must provide the Managing Director with the names and the PGY level of the residents expected to be in each training program at the start of the new academic year (July 1st). They must also identify which Residents are Visa Trainees. This information will be used by the Managing Director and the committee to allocate funding.