In order to fully utilize the Faculty Contribution Tracking (FCT) feature, you will need to define the fixed cost parameters for your Academic Year.
These parameters include the monetary hourly rate for Faculty hours, lab reimbursement, maximum elective credit, etc. This tutorial will show you where to customize these parameters.
Path: Admin Toolbar > Advanced > FCT Admin > Define FCT Year > [Select Year]
The following settings are available on this screen:
- eRVU: This is the education Relative Value Unit. Use this field for designating the monetary amount for each hour of Faculty time.
- Course Dir. PHM: This is the Course Director Prep Hour Multiplier.
- Clerkship Dir. PHM: This is the Clerkship Director Prep Hour Multiplier.
- Clinical Electives PHM: This is the Clinical Elective Prep Hour Multiplier.
- 3rd Year SPD PHM: 3rd Year SPD Prep Hour Multiplier.
- Admin Support Percentage: This is the additional amount needed for Staff time devoted to preparing for a Course.
- Lab Reimbursement: Amount of reimbursement for lab expenses.
- Hrs/Credit for (S)electives: Defines how many hours per credit for Selectives or Electives.
- Max Elective Credits: Defines the maximum credits allowed for Selectives or Electives.
- Clinical Admin Cost: Adds amount for Clinical Admin hours contributed to Course.
Click Save Record when completed.
This screen is used to enter and adjust the fixed cost parameters for the financial reporting system. If these parameters are not defined, the FCT Reports will generate an error message indicating that these fields need to be defined.