Is the institution making the best use of its money? Are students and university stakeholders satisfied with their return on investment? Can we survive, or thrive, five to ten years from now? These are just a few of the questions keeping CFOs up at night, and rightfully so, since they are facing increasingly complex questions about their institution’s financial future.
Amid the complexity surrounding higher ed’s business issues, institutions face yet another critical task: supporting decisions with data. Delivering reliable, relevant data that decisions can be made from is the CFO’s obligation to the Board. College Boards are becoming more financially savvy, and therefore expect more in-depth financial reports. Accreditors are also watching more closely, and making accreditation standards more stringent.
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