Balancing the budget concerns college business leaders but they hesitate to take cost-saving measures

Tim Goral's picture
Friday, July 25, 2014

Balancing the budget concerns many chief financial officers at colleges but they don't want to take controversial cost-saving measures, according to a new survey by Inside Higher Ed and Gallup.

The survey is based on the responses of chief financial officers at 438 colleges and universities. It finds that 24 percent of business officers strongly agree they are confident in the sustainability of their business model for the next five years, and only 13 percent strongly agree they are confident in their model over the next 10 years, Inside Higher Ed reported.

Two-thirds believe news media reports suggesting that higher education is in the midst of a financial crisis.

Fewer than 25 percent of the chief financial officers have any plans to have senior faculty teach more undergraduates, revise tenure policies, promote early retirement for administrators and staff, outsource more academic programs or cut funding for intercollegiate athletics.

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