What the Money People Say

The Chronicle and Inside Higher Ed both have takes on an interesting story today: Few Finance Chiefs Are Optimistic in Face of Slow Recovery [Chronicle] and Maintenance Over Management [Inside Higher Ed]. They are reporting on the results of a survey of higher education institution CFOs and here are some of the things they have to say:

  • CFOs think raising teaching loads and eliminating tenure will help institutional economic recovery
  • CFOs are pushing the “outsourcing” of teaching to online classes
  • A lot of public universities are, due to the decreased state funding, effectively becoming private institutions
  • Despite their acknowledgement that faculty and the way faculty work need to change, CFOs are also concerned about recruiting and retention of employees
  • “93 percent of business officers disagreed or strongly disagreed with the statement that “budget cuts over the past three years have done major damage to the quality of academic programs at my institution,” and 88.8 percent said the same thing about the quality of student academic support services. (A slightly larger proportion acknowledged some impact on the quality of campus operations and support services, and a majority of public college CFOs conceded damage to staff morale.)” [Inside Higher Ed]

All in all, it’s a mixed bag but an interesting read into the business mindset that has been taking over higher education administration.

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