Roles and Responsibilities of the Chief Financial Officer: New Directions for Higher Education, No. 107

by Editor: Lucie Lapovsky; Editor: Mary P. McKeown-Moak

• ISBN13: 9780787948597
• ISBN10: 0787948594
• Format: Paperback
• Copyright: 1999-10-01
• Publisher: Jossey-Bass

Summary

With demands for improved quality, increasing competition for state and federal funds, and the challenges of integrating technology into the curriculum, higher education faces greater economic uncertainties than ever before. The chief financial officer (CFO) of any higher education institution stands squarely in the middle of this maelstrom. This issue of New Directions for Higher Education offers CFOs proven strategies for balancing the operating and capital budgets, maximizing net enrollment revenues, containing costs, planning for the resource needs of technology, identifying and managing risks, and investing the endowment wisely. The contributors discuss how CFOs can build positive relationships with key players in the campus?s financial planning and budget, including admissions and financial aid staff, state legislatures, and the board investment committee.This is the 107th issue of the quarterly journal New Directions for Higher Education.

Author Biography

LUCIE LAPOVSKY is president of Mercy College in New York and chair of the NACUBO institutional student aid advisory committee. She was vice president for finance at Goucher College, Maryland. MARY P. MCKEOWN-MOAK is senior associate at MGT of America, Inc., Austin, Tecas, She was recently senior financial officer of the Arizona University System.

Table of Contents

Editors' Notes	1	(4)
Lucie Lapovsky
Mary P. McKeown-Moak
What You Need to Know About Enrollment Management	5	(12)
Lucie Lapovsky
How to Develop an Effective Budget Process	17	(12)
Kent John Chabotar
The Thankless Task of Cost Containment	29	(10)
William S. Reed
Financial Planning for Information Technology: Conventional Approaches Need Not Apply	39	(12)
Ellen F. Falduto
Investment Policies for College and University Endowments	51	(10)
William T. Spitz
Using the Budget as an Effective Management Tool	61	(12)
Ronald E. Salluzzo
Campus Master Planning and Capital Budgeting	73	(10)
J. Kent Caruthers
Daniel T. Layzell
Identifying and Managing Risk	83	(8)
Janice M. Abraham
Financing Participation in Consortia	91	(8)
Mary Jo Maydew
Higher Education Funding Formulas	99	(10)
Mary P. McKeown-Moak
The Chief Financial Officer and Government Relations	109	(8)
William F. Lasher
Gwen Grigsby
Charlotte Sullivan
Using Peer Institutions in Financial and Budgetary Analyses	117	(8)
Thomas Anderes
Index	125