Tuesday, May 30, 2017

Higher ed administrators lack confidence in campus finances - Pat Donachie, Education Dive

75% of college financial executives feel that they do not have confidence in their long-term financial planning, as schools face increased challenges on meeting expenses and generating revenue, According to a new study conducted by PFM Solutions at a recent WACUBO conference. The results were generated from interviews with more than 100 higher ed financial and administrative leaders, With researchers finding that 68% of those questioned considered the financial future of their institutions to be “problematic,” and 56% describing the process for long-term strategic planning as “problematic or burdensome.” Many also admitted difficulty in trying to plan for unknown future scenarios, while 24% found a lack of advanced modeling tools to be an issue, and 22% found the lack of complete financial information to be a problem, while 21% felt they relied too heavily on Microsoft Excel.


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