Budgets and Financial Management in Higher Education
This thoroughly updated and expanded edition of the classic resource The Jossey-Bass Academic Administrator's Guide to Budgets and Financial Management will help administrators become more proficient in their financial management roles. Grounded in the latest knowledge and filled with illustrative examples from diverse institutions, as well as helpful reflection questions, the book's guidance can be put to immediate use. In addition, the authors suggest ways of avoiding common pitfalls and address what to do when faced with budget fluctuations and changing fiscal environments.
"This book is vitally important for understanding the complex financial underpinnings of higher education. Could there be a more critical time for administrators to add to their knowledge in this area? I don't think so."
EUGENE S. SUNSHINE, senior vice president for business and finance, Northwestern University
"The authors have produced an easily readable and valuable resource for board members, administrators, students, faculty, or anyone interested in knowing about budgeting and the budgeting process. Their treatment of the subject is thorough and complete."
LARRY H. DIETZ, vice chancellor for student affairs, Southern Illinois University, Carbondale
"This is the best 'nitty-gritty-how-to' book on university budgeting that I have found. My graduate students at both the master's and doctoral levels have found it to be a comprehensive, insightful, and useful tool in their graduate studies."
LINDA KUK, program chair, Higher Education Graduate Programs, and associate professor of education, Colorado State University
Figures, Tables, and Exhibits ix
About the Authors xv
1. The Fiscal Context and the Role of the Budget Manager 1
2. Primary Elements of the Budget: Revenue and Expenses 29
3. Understanding Budgets 55
4. Management of the Budget Cycle 87
5. Understanding Auxiliary and Capital Budgets 119
6. Problems and Pitfalls in Budget Management 139
7. Managing Budget Fluctuations 163
Glossary of Terms 191