ERIC Number: ED352081
Record Type: RIE
Publication Date: 1993
Reference Count: N/A
Financing Community Colleges: Threats and Opportunities.
Kapraun, E. Daniel; Heard, Don A.
Today many community colleges are faced with a multitude of financial problems that threaten the stability of their educational and operational programs. These problems include decreases in funding, rising costs, outdated funding formulas, and volatile enrollment patterns. The extent to which individual community college leaders understand these financial problems and develop appropriate responses will, in large part, determine their institution's ability to maintain the quality of its existing programs, expand into promising new educational areas, and continue an open door policy that ensures that the college's services are available to everyone who has an interest. One method to combat these problems is to identify and develop new sources of revenue. The most promising of such methods are establishing foundations; accessioning non-cash donations including equipment, facilities, and services; auxiliary enterprises such as bookstores, dining halls, and print shops; grant projects; contract training; and investment strategies. Another method involves utilizing strategies to control and reduce costs, which often requires a reevaluation of budgeting practices. A third avenue involves the implementation of a strong financial management system, effective budgeting practices, and a cost accounting system capable of gathering various types of information for decision-making needs. A final method involves garnering support from state officials and the public, including the reform of funding formulas. A review of the literature is included. (Contains 35 references.) (MAB)
Publication Type: Opinion Papers; Information Analyses
Education Level: N/A
Audience: Administrators; Practitioners
Authoring Institution: N/A