Competency 4: Financial Management

Monday, May 18, 2020 | 3:30PM–12:00AM ET
Session Type: Virtual
Leaders in higher education face increasing pressure to do more with less. Competition for funding is at a premium with many states slashing budgets for their colleges and universities. For this reason, managers need to have a clear understanding of financial management and budgeting. In addition to making sure individual projects stay on track, managers must be willing to fight for necessary funds to support the key initiatives of their departments. They also need to understand the differences between capital and operational expenses. Supporting the financial viability of the institution and maintaining transparency over expenditures are critical responsibilities for managers in higher education.
 
By the end of this competency, you will be able to:
 
  1. Develop strategies to overcome common budgeting challenges
  2. Identify opportunities to support the budgeting strategy of the institution
  3. Develop partnerships to help secure necessary funds for critical workplace initiatives
  4. Use leadership skills to support budgeting efforts