Create a new account

It's simple, and free.

Managing Money in Higher Education

Institutions of higher learning operate in unique financial environments which balance the needs of nonprofit institutions (in most cases) with the need to provide a high quality education to students. Administrations in higher education must bring together the often conflicting requirements of students, faculty, alumni and the community at large in order to meet their obligations to the various stakeholders of the institution. In some cases, research is conducted at the institution and the faculty's reputation is critical to the long-term success of the organization; in other cases, one (or more) schools in the university may greatly influence the school's reputation. Still other schools have outstanding and highly visible athletic programs which serve to market the school to both athletes and nonathletes. All colleges and universities, regardless of their areas of expertise, must balance limited funding with the many demands placed on that funding. Public schools must provide records and be accountable to the states which finance them; private institutions must answer to the various donors. All schools are also accountable to students, who are the ultimate consumers of the education, and those that engage in research or who otherwise operate under grants must be accountable to the source of those grants. This research examines William Vandament's book, Managing Money in Higher Education, which attempts to guide school administrators through the often confusing area of finance in this environment.

Vandament's work is meant to be an introductory text for those administrators who do not have a strong background in business or finance, but who are faced with fiscal responsibility within an institution of higher learning. The author's assumption is that increasing numbers of nonfinancially trained administrators, faculty and others are responsible for making financial decisions, often on the advice of financial professionals, a...

Page 1 of 7 Next >

More on Managing Money in Higher Education...

Loading...
APA     MLA     Chicago
Managing Money in Higher Education. (1969, December 31). In LotsofEssays.com. Retrieved 11:46, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1695165.html