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Poor Budget Management : A Case Study

In recent months, the organization and governance of Jacksonville University (JU) has undergone a dramatic transformation in the wake of the forced departure of President David Harlow and the resignation of Chief Financial Officer Joe Wiley amidst the controversy of poor budget management (Filaroski, 2003, 2004; Snell, 2004). Under the governance of Harlow, JU has shifted from its fiscally sound position in 1999 (JU, 1999a) and its successful fundraising campaign that generated $60 million to a projected $3.5 million budget deficit in 2004 (Filaroski, 2003, 2004). The fiscal problems encountered by JU and its efforts to restructure the organization are representative of JU's continuous struggle to maintain and expand its niche as a private liberal arts college in an increasingly competitive market over the last few decades.

In the remainder of the paper, the organization and governance of Jacksonville University, along with the impact of societal changes, as well as the three forces (the public, the consumer, and the faculty) that determine its existence over the years, will be explored.

Established in 1934, JU was originally established as a two-year junior college that offered night classes to encourage both young people and adults to pursue their learning. As the primary educational institution that catered to the local growing community, JU was able to consolidate its position and expand its curricular offerings. In 1956, it became a four-year university. Through its mergence with a key local fine arts institution, Jacksonville College of Music, in 1958, JU further developed its liberal arts traditions by incorporating additional programs such as drama, art and fine arts and create the College of Fine Arts in 1961 (JU, "University Information").

During this period, as the only "comprehensive liberal arts university with professional schools" (Filaroski, 2004, p. 1), JU benefited from considerable commu...

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Poor Budget Management : A Case Study. (1969, December 31). In LotsofEssays.com. Retrieved 01:01, April 25, 2024, from https://www.lotsofessays.com/viewpaper/1686951.html