Blog

In this new era of Covid-19, institutions are scrambling to meet students’ unique needs while also remaining functioning and delivering high quality education. They are facing many unparalleled challenges such as declining or flat revenues and increased expenses to new competition from other attractive learning alternatives. It is now more important than ever to properly plan and budget to account for this new landscape. Status quo is no longer an option.

One way colleges and universities can strive to maintain financial sustainability and longevity is by having a long term strategic financial plan. Now, more than ever, effective and efficient budgeting and planning is at the forefront of sustainability. Having the right plan will set the course for success.

There are several budgeting methodologies available to help achieve a strong plan.

This week, presidents and key executives from NAICU member colleges gathered in Washington, DC, to tackle the tough challenges facing university leadership in tumultuous times. The agenda covered legislative issues impacting higher education, how to succeed in today’s evolving higher education environment and more.

I recently had the pleasure of attending the EACUBO Annual Meeting in Buffalo, New York.  The conference brought together College and University business officers from throughout the Northeast with the goal of sharing new ideas regarding how institutions can meet the financial challenges of a quickly changing higher education landscape. Among the topics included were succession planning, sustainability, and risk mitigation.  A common underlying theme was how to use metrics and data analytics to support institutional efforts to make better decisions.