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Subcategory of CFO News

Being able to draw from the endowment is important for an institution like Berea College because of its no-tuition promise. Students are required to work as they attend school, with assignments such as greeting guests at the Historic Boone Tavern Hotel.

On average, academic institutions spend between 4.5 and 5 percent of their endowments annually. But when endowment returns are way down, it’s not exactly prudent to spend the same percentage of the endowment with the assumption that target investment payoff percentages will return.

Stanford’s solar solution: Joe Stagner, executive director of sustainability and energy management at Stanford, has led the university through a solar power-based strategy. By 2030, 75 percent of the university buildings will be powered by solar.

How colleges are getting creative about energy supply to save money on heating and cooling, and to boost building comfort for occupants

At the University of South Florida, current and former scholarship recipients were among those who signed a giant thank-you card presented to donors Barron and Dana Collier during a ceremony announcing their latest major gift.

Smart advancement teams put thought and research into making stewardship individual and heartfelt. But how far will institutions bend on their mission when a donor offers big bucks? Are donors negotiating for honorary degrees, access to students, influence over scholarships or a leg up in recruiting graduates?

Colleges and universities now expect employees to take action, change behaviors and make decisions that positively impact their health, finances and lifestyles.

Wellness benefits have transformed into all kinds of unique offerings, ranging from on-site vegetable gardens to fitness centers. Meanwhile, traditional “do-everything-for-me” benefits have disappeared.

Of the 23 types of organizations studied by the Association of Certified Fraud Examiners (ACFE) in 2014, education—including higher ed—had the fifth highest frequency of fraud.

Embezzlement originating from any corner of campus can threaten any college and university. As for the losses, they can be big. Here are four ways technology and vigilance can help head off financial fraud.

Students may forget their campus cards in their rooms or figure they don’t need their wallet for a short walk around the quad. But the one thing they are likely never to be without is a phone.

ERM policies being executed tend to share one major approach: sharing ownership of various risks campuswide.

With YouTube, Facebook, Twitter and other social media outlets, virtually nothing escapes the public’s notice, and judgment. It’s one reason higher education is paying much more attention to risk management now than in the past.

After putting off past maintenance projects when the economy stalled, leaders at many institutions are finding it difficult to fit them back into the budget.

Outside the circle of higher ed facilities managers, it’s the shiny new campus buildings that get all the glory. Yet what facilities insiders know all too well is that existing buildings are in dire need of attention.

“Parents need a thorough understanding of the costs related to college and the options for paying college expenses. The need for timely, understandable information is especially acute in households with no previous experience with the going-to-college process. Colleges often assume parents already have knowledge about budgeting for college, the cost of student loans and effective repayment strategies, so they often don’t address these issues when they provide parents with information.”

—George Covino, vice president of consulting, USA Funds

Through short videos on Financial Aid TV, parents of prospective and returning students at Santa Fe College can learn more about their financial aid options, education tax credits and other money management topics.

Loan default rates and an expanding focus on student success have made strong student financial literacy efforts a higher ed norm. But as students and their parents continue to grapple with paying for school, money management lessons from colleges are becoming a family affair.

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