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On December 21, 2020, Congress finalized a new stimulus package and federal budget in the Consolidated Appropriations Act of 2021 to provide another round of relief to the US economy. While this latest relief package is far smaller and later than many of us would have hoped for, higher education leaders can expect some additional federal assistance to start 2021.
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.
COVID-19 has exacerbated existing threats to higher education institutions’ financial stability—including enrolment volatility, value-for-money concerns, and an expensive delivery model. Discover the types of transformative changes institutions are considering in response to pressures on university finance and operations amid COVID-19.
As institutions grapple with COVID-related expenses—and anticipate future budget shortfalls—some have begun furloughing staff to temporarily reduce salary costs. While furloughs are an attractive alternative to layoffs, most institutions haven’t considered furloughing staff since the Great Recession—and today’s circumstances are quite different than they were a decade ago. As a result, leaders are adapting their historic furlough approach to the COVID-19 context.
Design a scorecard with a clear and impactful layout, then effectively deploy to the rest of campus.
During the webconference you'll learn to navigate the new Instructional Workload tab and how to identify where there may be opportunities to rightsize teaching loads or increase productivity.
Discover how EAB's Community College Executive Forum helped Broward College go from good to great.
As the COVID-19 crisis threatens the food security of millions of Americans, school meal distribution represents a critical support for students and their families. Learn how school districts can finance and sustain meal distribution