3.4.3 Risk, benefit, investment, expenditure

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3.4.3 Risk, benefit, investment, expenditure
Status Ready for review
Compliance Rating Fully compliant
Responsible



The repository shall have an ongoing commitment to analyze and report on financial risk, benefit, investment, and expenditure (including assets, licenses, and liabilities).

Supporting Text

This is necessary in order to demonstrate that the repository has identified and documented these categories, and actively manages them, including identifying and responding to risks, describing and leveraging benefits, specifying and balancing investments, and anticipating and preparing for expenditures.

Examples for Meeting the Requirement

Risk management documents that identify perceived and potential threats and planned or implemented responses (a risk register); technology infrastructure investment planning documents; cost/benefit analyses; financial investment documents and portfolios; requirements for and examples of licenses, contracts, and asset management; evidence of revision based on risk.

Discussion

The repository should have a goal of maintaining an appropriate balance between risk and benefits, investment and return.

Evidence Provided

Academic Preservation Trust Succession Policy (https://doi.org/10.18130/V31C1TF5Z) states:

Reserve Fund and Financial Review

  1. The Academic Preservation Trust SHOULD maintain a reserve fund equal to or greater than the previous year’s net operating cost as recorded in the APTrust’s budget statement.
  2. The APTrust Governing Board MUST review the financial health of the organization twice a year to ensure that the organization has enough in reserve to maintain good financial health and/or to ensure an adequate reserve exists to meet succession needs should the organization decide to dissolve.

Budget reports are shared before meetings for discussion of APTrust's financial health.

APTrust Budget reports posted from 2014/15 fiscal year to present: https://docs.google.com/document/d/1Wp0mRxQwioNTXB8_IzyKFl2pOYNv1JdCMhHr5138Drg/edit

Financial Sustainability and Business Principles and Practices: https://doi.org/10.18130/V3WM13T1F

Compliant Rating

Fully compliant

Status

Ready for review