Follow-up Budget Questions for New Chairs: Flexibility, Carry Over, and Incentives
To provide some basic budgeting and finance information to new chairs with little or no experience in this area, in my June article I recommended some questions for them to ask their dean prior to or at the outset of their terms as chairs. The questions on the sources of…
On a Shoestring
This simple strategy can play a role in bringing a campus together around priorities that are shared widely and building a leadership team that is broadly regarded as unified and legitimate. Although, honestly, I cannot quantify its success, from years of experience I can attest to its far from negligible benefits and effect upon campus culture. Moreover, it’s an innovation that costs nothing to implement; no resources—either of money or planning time—need to be expended.
Making Progress in Challenging Fiscal Times
There is something uncomfortable about bringing the topic of money into a conversation about how to best serve our college and university students while preserving the values, integrity, and relevance of our higher education institutions. However, there is virtually nothing we do in the realm of education that does not have a real cost associated with it. Thus, the balance sheet does have a place at the table, especially in recent years as endowment growth has been suppressed by diminished giving and low interest rates, state support has been reduced, and tuition resistance or caps have emerged. Add to this picture the decrease in federal funding for research, and we have compromised all the main income streams upon which our colleges and universities have traditionally depended to advance their missions in serving students in the best way. The question is how do we garner, in challenging fiscal circumstances, the resources necessary to serve our students in a changing world that expects new skills of our graduates?
Anatomy of a Budget Crisis: Wright State University Makes Nearly $31M in Cuts
In spring of 2017, Wright State University implemented nearly $31 million in budget cuts to make up for five years of overspending. Part of these cuts include elimination of 189 positions and the possibility of discontinuing the school’s swimming and diving teams.
