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ERIC Number: EJ1000268
Record Type: Journal
Publication Date: 2012-Oct
Pages: 2
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: ISSN-0036-651X
Managing Hysteresis: Three Cornerstones to Fiscal Stability
Weeks, Richard
School Business Affairs, v78 n9 p20-21 Oct 2012
The effects of the Great Recession of 2007-2009 continue to challenge school business officials (SBOs) and other education leaders as they strive to prepare students for the global workforce. Economists have borrowed a word from chemistry to describe this state of affairs: hysteresis--the lingering effects of the past on the present. Today's SBOs are experiencing hysteresis on the revenue and expense sides as they prepare their upcoming budgets. Revenues are expected to be elusive and dysfunctional based on how states collect and distribute funds. SBOs are in a better position to manage hysteresis with respect to expenses. The key is to focus on three cornerstones: consolidation, technology, and outsourcing. In the private sector, the executive counterparts have turned to these three areas to restore profitability to their companies. Perhaps SBOs can improve fiscal stability in their districts by using some of the same methods.
Association of School Business Officials International (ASBO). 11401 North Shore Drive, Reston, VA 20190. Tel: 866-682-2729; Fax: 703-478-0205; e-mail: asboreq@asbointl.org; Web site: http://www.asbointl.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A