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This study includes four executive-level lessons on budget design and a compendium of 29 budget model elements to help you develop a more strategic resource allocation system on your campus.
While financial exigency is still a final recourse for struggling institutions, the financial realities of the current crisis mean more senior leaders are considering the tactic. But because financial exigency declarations are relatively uncommon, misconceptions about what this decision means for a campus abound. To help leaders separate fact from fiction when weighing financial strategy decisions, we identified five common myths about financial exigency—and the information you should promote instead.
This study examines eight executive tactics to increase central dollars and garner buy-in for strategic priorities.
Avoid these common missteps colleges and universities make in academic portfolio review and in pursuit of strategic growth.
Declines in enrollment and revenues, in some cases exacerbated by COVID-19 and in others a perennial issue, have forced many colleges and universities to take a hard look at their academic cost structure. While there is no single right way to make these difficult decisions, there are a few common mistakes that should be avoided if you decide to undertake such a process.
As institutional leaders continue to grapple with their new budget realities, they are identifying further efficiencies. Discover common misconceptions about the drivers of instructional costs and gain a better understanding of college and university finances.
Join us to see a live demonstration of the Academic Performance Solutions (APS) platform and learn how APS integrates student, faculty, and cost data into dashboards that academic leaders can use to inform planning decisions.
As governments around the world scramble to respond to COVID-19’s financial impacts, many countries have introduced relief packages for their respective tertiary or higher education sectors. In most instances, government relief accounts for just a fraction of universities’ expected losses. Higher education providers in some countries are receiving no direct emergency funding at all, with policy changes making up the bulk of government action. To make sense of the different support packages and policy changes affecting HEIs, EAB has put together a short summary of where universities stand in terms of relief in different corners of the globe.
Faculty and staff often correlate a reduction in academic costs with a reduction in quality. In reality, institutions can realize savings and promote excellence by reallocating existing resources to high-impact, mission-aligned activities. The resources below highlight both immediate savings opportunities from increased instructional efficiency and longer-term opportunities to increase instructional productivity and rightsize the academic portfolio.
EAB has identified eight principles most important to budget remodel success. We recommend that all institutions changing models abide by the principles outlined below–regardless of current model, desired new model, or current point in the change process.