Category: Budgets and Finance
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 ...
Universities protect researchers’ inventions by securing patents. The resulting commercialization activities provide additional funding for research and spur start-up companies. Many universities retain their patent assets in-house even though monetizing them might increase related revenue. ...
Traditionally, colleges used a similar mix of marketing tools and techniques to attract new students. The typical approach included: a high-quality set of recruitment brochures on select programs of study; a college catalog that was ...
After the first two questions posed in a previous article on budgeting and finance, namely identifying the sources of academic income and how the department’s budget is established, have been answered, the new chair should ...
