By Stephen T. Beers, Paul Blezien, Timothy W. Herrmann
Suggestions and encouragement for larger academic leaders dealing with the query of the sustainability of the present monetary model.
Just many years into the twenty-first century, larger academic leaders face unanticipated and exceptional monetary demanding situations. Federal and nation aid dwindles whereas universities be afflicted by damaging development projections and anemic endowments. the prices of ''doing business'' in deepest better schooling proceed to upward push sharply, with the typical ''consumer'' suffering to pay even discounted institution. academic leaders face the query of the sustainability of the present monetary model.
This ebook publications and encourages a talk that's severe for personal faculties and universities. it really is equipped into 3 sections. part One, ''Gaining a Vantage Point,'' contains a literature seek reviewing decision-making techniques within the mild of complicated monetary pressures, then experiences on a qualitative study venture accomplished for this ebook surveying senior point executives of non-public better academic associations from around the U.S. part , ''Understanding better academic Finances,'' offers a ''primer'' on greater education's budgeting nomenclature and methods. part 3, ''Preparing for Change,'' specializes in very important management rules for navigating swap and incorporates a checklist of the severe matters dealing with academic leaders as they appear to the long run.
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Extra info for Funding the Future: Preparing University Leaders to Navigate the Coming Change
This collaborative process capitalizes on the collective wisdom, knowledge, and commitment present in our institutions. This book is organized into three sections: Gaining Perspective; Understanding Higher Education Finances; and Preparing for Change. Each section includes chapters that can be read in the context of the whole or as an individual thesis. Section one begins with a report on the original research done for this book titled “The Voice of Experience: A Phenomenological Study of Institutional Budgeting and Prioritization at Faith-based Higher Education Institutions,” chapter two begins with a literature review of leadership decision-making processes in the light of complex financial pressures.
However, there was a clear sense that presidents and their cabinets need to be intentional about this as they develop their institutional budget development and prioritization process. That intentionality must include a well-developed rationale that is clearly understood by all stakeholders. Mission and Strategic Plan “We ought to ask ourselves whether in fact the budget as it came out or as it’s being formed or even how we did the budget truly reflects our mission and values. If it doesn’t, then that should be a wake-up call to us.
Because there is a great benefit in being exempt from paying income taxes and in being able to receive gifts, a growing number of regulations and standards are attached to the continuation of an institution’s tax-exempt status. Donors, board members, and employees cannot derive inappropriate personal benefit from transactions with the college. Presidents cannot be paid above the range for presidents at comparable institutions without clear justification. Greater accountability and transparency is expected from organizations that have been granted not-for-profit status.