The Faculty Practice Association (FPA) Division within the Icahn School of Medicine at Mount Sinai Department of Finance is the accounting office that oversees, monitors, and provides support to all Faculty Practice faculty and staff regarding financial management, reporting, and other administrative services.
Instructions and Forms
Below is a comprehensive list of instructions and forms to help you navigate and comply with the Faculty Practice Accounting Division policies:
- Adding New Faculty to FPA Financial Reporting
- Sample of Income and Disbursement Flow
- The FPA Financial Statement and Description
- New Statement Sample
- Supplemental Payment Requests
- New Supplement Form
Services of FPA Accounting Department
The FPA Accounting Department provides the following services:
- Financial Reporting including monthly cash receipts and actual vs. budgeted expenditure reports, ledgers, and FPA statements and consolidated reports, profit and loss reports; and quarterly financial reports for departments.
- Transaction Processing including FPA supplement payments, transaction review and approval; and journal entries/transfers approved by departments.
- Consultation/Education including meeting with faculty and/or department administrators to answer questions about reports or transactions processed, and assisting departments with business plans for new initiatives.
All questions pertaining to your FPA participation should first be directed to your departmental administrator.
All appointments of FPA physicians are handled by the home department. The physician and the Department chairperson discuss the compensation package and come to an agreement, with a recommendation form then filled out and signed by both parties.
FPA Accounting sets up Income and Overhead accounts for the FPA participant on the Fund Master database (VCV1, FNDU1 Screen) and then notifies the FPA Administration, Department Administrator, and Main Cashier.