Financials

Overview

As of Fall 2008, the magazine’s circulation increased to more than 350,000 with the addition of all alumni to the distribution list. With this increase, the magazine’s publishing fell under the shared purview of University Relations (UR) and Alumni Relations (AR).

The cost of the magazine is divided between AR and UR as follows:

• AR covers printing, postage, and distribution
• UR covers design, editorial, photography, and all other costs (with the exception that UR contributes to the cost of the printing/postage for the spring issue because AR’s budget does not cover that cost for all three issues/year)

UR handles all the business transactions for the magazine. In order to obtain AR’s contribution, funds must be transfer through RIAS. UR must created an invoice (see sample) and send it to AR, so they can transfer the funds. 

In FileMaker Pro (FMP), the Business Office should note the fund transfer in the three issues for the FY.

Once all invoices are in and recorded, the job should be closed in FMP.

Advertising

The advertising sales rep handles invoicing and follow-up with external advertisers. See the advertising section for more information.

Internal advertisers are invoiced by UR. An invoices must be created and sent to the advertiser so they can generate an IPO in RIAS. After the issue publishes, the funds are transferred (if advertising in more than one issue, the funds are transferred after each issue, not all at once).

UR must track advertising sold to the magazine. Each FY the Business Office must submit details on our advertising revenue to Rutgers accountant. Advertising is a UBIT (Unrelated Income Business Tax) and must be reported to the IRS. The Business Office will request a summary of all advertising sales for each FY.