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Brief 14: Risk Management, New England Resource Center For Higher Education, University Of Massachusetts Boston
Brief 14: Risk Management, New England Resource Center For Higher Education, University Of Massachusetts Boston
New England Resource Center for Higher Education Publications
The development office accepts a gift of a house from a prestigious donor. The faculty has developed and approved a new core curriculum. The institution recently constructed a new campus center. While these circumstances sound no alarms, all involve elements of risk. The welcome gift of the house, later discovered to be contaminated with mold, will involve a costly clean up. A revised curriculum cannot guarantee that the changes will yield the expected results. The construction of a new building has significant implications for maintenance of the physical plant. In a recent meeting NERCHE’s Chief Financial Officers Think Tank discussed …
Brief 11: Partnering For Accountability: The Role Of The Chief Financial Officer At An Academic Institution, New England Resource Center For Higher Education, University Of Massachusetts Boston
Brief 11: Partnering For Accountability: The Role Of The Chief Financial Officer At An Academic Institution, New England Resource Center For Higher Education, University Of Massachusetts Boston
New England Resource Center for Higher Education Publications
There is rarely a perception in colleges and universities that everyone owns the financial plan. Deans, department chairs, and division heads are most concerned with their own budgets, rather than the aggregate. Mythologies about how the academic and financial sides of the house operate create artificial divisions and compromise the development of shared responsibility. Driven by myth, each side tends to view the other as a threat to its values and priorities. These views often stereotype the other in ways that become self-fulfilling prophesies. For example, Chief Financial Officers (CFOs) believe that academics are inefficient and that CFOs, with their …