Although the legislation only applies to institutions based in New York, the New York Prudent Management of Institutional Funds Act of 2010 has led to discussion in other states about how endowments should be managed to respect donor intentions while meeting institutional needs. Some key points include:
Articles: Financial Services
11/20/2012
The financial crisis is in the past, more or less, and campuses are looking ahead to a new era for their endowments. But what does this mean? Four years on, we’ve come to grips with the changes wrought by the September 2008 market crash. Finance departments are revising their theories and boards of trustees are revising their expectations under what has been called the “new normal”—a time of low stock market returns, low interest rates, and low growth in personal income.
11/19/2012
While community colleges are supposed to be two-year institutions, many students take longer than that to graduate. Some four-year institutions, meanwhile, allow ambitious students to earn a bachelor’s degree in three years. Pima Community College (Ariz.) has come up with a new twist to the accelerated degree trend, giving East Campus students enrolling in the Sprint Schedule pilot program the chance to be done in just one.
11/15/2012
The American Council on Education (ACE) has announced a research effort examining the academic potential of massive open online courses (MOOCs), in which it will evaluate select Coursera courses for college credit. If the ACE College Credit Recommendation Service (ACE CREDIT) decides to recommend these courses for credit, it could mean an improvement in college affordability for hundreds of thousands of students.
11/8/2012
After doubling its number of graduates, Polk needed to automate its graduation applications process. A customized Access database was created with built-in reporting capabilities. An automated download capability was added to link graduate information with the reporting database. The result: Advising hours have been reduced by 1,600 per year and the additional clerical help is no longer needed.
11/7/2012
While voters across the nation were glued to their screens last night counting electoral votes, the higher education community was holding its breath awaiting the answers on a number of important ballot initiatives, proving this year’s election was truly about more than blue and red for higher ed.
11/7/2012
NMU's Foundation Scholarship application and selection process was inefficient and labor intensive. A web application was designed that matched selection criteria to the student's academic and biographical profile. The new system reduced data entry, paper, timing, and labor costs, while increasing data accuracy and providing more information to selection committees.
11/1/2012
Finding funding for new technology investments in higher education can often seem overwhelming and stressful given the current economic environment. However, there are strategies available to support new technological initiatives. Administrators just need to do their homework and remain persistent to secure the funding needed to deploy these essential advancements.
10/25/2012
Successful business incubation at universities is about much more than a capable technology transfer office (TTO) and strong commercialization policies. New businesses are born at universities because faculty and students have the freedom to develop innovative ideas and pursue new lines of inquiry. To emerge from the university successfully, these pioneering ideas must be accompanied by prototype development, market research, commercialization strategy, and effective fundraising.
10/24/2012
More than eight in 10 administrators surveyed—mainly controllers/budget officers and CFOs—say they’re very or somewhat concerned about their institutions’ ability to fund future capital investments. Two-thirds expressed concerns about maintaining enrollment.
10/24/2012
In a step toward improving college access and affordability, California Gov. Jerry Brown has signed into law two bills that will provide students with free access to digital textbooks.
10/3/2012
In a step toward improving college access and affordability, California Gov. Jerry Brown has signed into law two bills that will provide students with free access to digital textbooks.
Bills 1052 and 1053, passed last week, call for creating free, open source digital textbooks for 50 of the most widely taken introductory courses among the University of California, and California Community College systems, and creating a state digital open source library to house the texts.
9/26/2012
Prior to 2011, the sports and events facilities at the University of Mary Washington (Va.) were nothing to write home about. The university’s Dodd Auditorium had a capacity of 1,300 for concerts and other special events, and the Woodard Campus Center gymnasium, which was built in the 1950s, could only seat 500 and couldn’t be used for anything but sporting events.
9/25/2012
The food truck craze that’s hit cities large and small across the nation has made its way to college and university campuses, offering up new dining options in new spots with more hours. Bringing a food truck to campus isn’t as easy as throwing in an oven and hoping students are hungry, though.
9/25/2012
With the 2012 election only weeks away, Pres. Barack Obama and Gov. Mitt Romney are furiously campaigning for that segment of undecided voters that could make or break their efforts.
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