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Financial Services  

Welcome to the Financial Services home page!  Our goal is to provide the Babson community with a user friendly site for obtaining forms and other documents needed to ensure the College's financial records are complete and properly stated.  


This website will be reviewed and updated on an on-going basis.  We encourage you to offer suggestions and comments to help make this site as useful as possible.  Feel free to contact any department member - we are all here to serve you.

 

 

Babson College Financial Facts

The College's endowment value as of June 30, 2009 was $171M, down from $216M at June 30, 2008;

The total investment return on the endowment for the fiscal years ended June 30, 2009 and June 30, 2008 was (17.1%) and (1.5%), respectively;

Contribution and grant revenues for the fiscal year ended June 30, 2009 were $23.4M, as compared to $14.8M at June 30, 2008;

Bonds outstanding (both taxable and tax-exempt) as of June 30, 2009 and June 30, 2009 amounted to $121.9M and $124.8M, respectively;

Total net assets as of June 30, 2009 and June 30, 2008 were $235M and $269M, respectively.

 

 

 


What's New

CHANGE IN STANDARD MILEAGE RATE

 

Effective January 1, 2009, the new IRS standard mileage rate has DECREASED from 58.5 cents/mile to 55 cents/mile.  This new rate for computing personal car mileage business expense should be used for all miles driven after 12/31/08.

 

Please use the old rates of:  50.5 cents/mile for business miles driven from January 1 - June 30, 2008;   and 58.5 cents/mile for business miles driven from July 1 – December 31, 2008.

 

 

DOCUMENTATION REQUIRED FOR MILEAGE REIMBURSEMENT

 

When submitting an expense report for mileage reimbursement, our recently updated “best practices” policy requires the traveler to verify all mileage by attaching a MapQuest printout

(or similar on-line mileage reporting tool) which displays accurate beginning/ending addresses and exact mileage totals that should correspond to the requested reimbursement amount.  The Accounts Payable office will not process reimbursements for mileage without this important backup documentation.

 

 

Should you have any questions, please contact Harry on ext. 3940 or Jeff on ext. 5843.

 

 

 

 

 

 

 

© 2009 BABSON COLLEGE. ALL RIGHTS RESERVED. BABSON PARK, MA 02457-0310. 781-235-1200