The higher education landscape is characterized by a wide range of institutions with various levels of financial stability. A few enjoy enormous wealth. Annually, a handful close or merge with
Let’s start by reviewing the budget components we assembled in part one:
Why redo department budgets at a time like this? There are so many other important considerations these days that this task might seem an unnecessary distraction. Well, we have just
Now that the threats of the COVID-19 virus appear to be diminishing and campuses are returning to face-to-face instruction, it may be an opportune time to examine the budgeting models
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
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
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
Part 1 of 4: Basic Structure and Money Flow
Responsibility Centered Management (RCM) is a budgeting model that has been in existence for decades but more recently has become the
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
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
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