Budgets and Finance
Colleges and universities will be challenged to offer more with less income and smaller student bodies in the 2020s, and for a variety of reason not stemming from the pandemic. Many institutions have already begun ...
Many of our institutions of higher education are presently in a fierce competition to recruit undergraduates. For some of them it is a matter of survival: improve your recruitment outcomes or suffer the fiscal consequences ...
As traditional revenue streams continue to wane, academic leaders at colleges and universities are increasingly expected to acquire new sources of support. While fundraising is nothing new for colleges and universities, those tasked with these ...
The US finds itself at a crossroads as it confronts the challenge of repaying student loan debt. Over the past 30 years in Michigan alone, state support for public colleges has flipped from about 75 ...
As budgets tighten at colleges and universities, academic leaders are repeatedly urged to be more entrepreneurial in their approaches. “It’s time to think outside the box,” we’re told. “Be creative. Be daring. Be innovative.” But ...
In higher education fundraising, the people who identify, cultivate, and solicit charitable contributions are critical assets. These gift officers strengthen the bonds between alumni and their alma maters by facilitating the donation of major gifts ...
At this point, we have considered the structural and functional features of RCM and some behaviors that must be avoided during its implementation. In this final installment, I will reveal some weaknesses that we have ...
In the first two parts of this series, I presented the structural features of Responsibility Centered Management (RCM), how money flowed throughout an RCM campus, and how campus costs were covered in this decentralized budgeting ...
In part one of this four-part series on Responsibility Centered Management (RCM), I presented the basic features of RCM, including the fact that no two versions of RCM are the same. Institutions have found ways ...
Part 1 of 4: Basic Structure and Money FlowResponsibility Centered Management (RCM) is a budgeting model that has been in existence for decades but more recently has become the preferred budgeting approach for an increasing ...
