ERIC Number: EJ861163
Record Type: Journal
Publication Date: 2009
Reference Count: 0
Adaptive Budgeting: Thirty-Four Ideas for Raising Revenues, Cutting Costs, Retaining Students, and Saving Jobs in Hard Times
Facione, Peter A.
Liberal Education, v95 n3 p24-31 Sum 2009
The great majority of institutions, public and private, are looking toward 2009-10 and beyond, in anticipation of the deepest budget cuts in more than a generation--and certainly deeper than at any time in the memory of most current campus leaders. In the current recession, even financially well-positioned independents with substantial numbers of qualified applicants for 2009-10 are canceling searches and freezing budgets out of concern for the potential financial aid cost associated with bringing in a full class next fall. Much more troubling is the plight of the many public institutions that must seriously consider laying off tenured faculty and closing programs due to the financial exigencies resulting from mandated double-digit budget cuts. As bad as this may be, these institutions can still survive if they take swift and strong emergency action. In this article, the author suggests some first principles for approaching budgeting in tough times, and offers a list of suggestions for reducing expenses, expanding revenues, supporting students, and minimizing job losses. These suggestions can help one generate revenue, increase productivity, and cut expenditures. Some are tactical, others are strategic. Some are short term, while others are long term.
Descriptors: Productivity, Budgeting, Faculty, Retrenchment, Higher Education, Job Layoff, Financial Exigency, Tenure
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Authoring Institution: N/A