Rerun: Higher Ed 101: College Budgets Explained Podcast By cover art

Rerun: Higher Ed 101: College Budgets Explained

Rerun: Higher Ed 101: College Budgets Explained

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 As colleges navigate increasing financial pressure, many struggle to balance mission with sustainability. In this episode, Jeff and Michael welcome Rick Staisloff, founder of rpk GROUP, for a crash course in how college budgets really work. From centralized vs. decentralized models to the challenges of tuition discounting, Rick breaks down the major drivers of revenue and expense in higher ed. He also highlights why better business intelligence, clearer accountability, and a shift toward ROI thinking are essential for financial sustainability. Whether you're a board member or just curious, this episode offers practical insight into what’s working—and what’s not—in college budgeting. This episode is made with support from Ascendium Education Group and the Gates Foundation.Chapters0:00 - Intro03:45 - How colleges put together their budgets9:05 - Implementation challenges and best practices15:04 - Non-tuition revenue sources26:21 - Cost drivers29:41 - Solving the “Financial Bucket Problem”35:41 - Deferred maintenance38:11 - Shifting to an ROI mindset41:04 - The levers to pull43:14 - On the margins46:44 - College cash sources49:03 - Our most promising strategiesRelevant LinksRPK Group Official WebsiteAccess the official online presence of RPK Group, the consulting firm founded by episode guest Rick Staisloff. This resource provides further information regarding their advisory services in higher education finance and the development of sustainable institutional business models.Responsibility Centered Management (RCM) Manual - Kent State UniversityThis document offers a comprehensive exposition of Responsibility Centered Management (RCM), a decentralized budgetary framework prevalent within higher education institutions. Review for detailed insight into its operational principles and implementation methodologies.Tuition Discounting Hits Another High - Inside Higher EdConsult this article for current data and analysis pertaining to the escalating rates of tuition discounting at private nonprofit colleges. The content elucidates the impact of institutional financial aid on net tuition revenue, a critical financial metric discussed herein.A National Study of Capital Infrastructure at Colleges and Schools of Agriculture | APLUThis report details the substantial and accumulating challenges of deferred maintenance across tertiary education establishments. It provides quantitative data and analytical perspectives on infrastructure-related financial burdens as referenced by Mr. Staisloff.Understanding Enterprise Resource Planning (ERP) Systems in EdTech - EllucianThis resource provides an overview of Enterprise Resource Planning (ERP) systems, elaborating on their function as integrated platforms for managing administrative and academic operations. It highlights their utility in enhancing institutional efficiency, business intelligence, and data-driven strategic planning within higher education.Connect with Michael Horn:Sign Up for the The Future of Education NewsletterWebsiteLinkedInX (Twitter)Threads Connect with Jeff Selingo:Sign Up for the Next NewsletterWebsiteX (Twitter)ThreadsLinkedInConnect with Future U:TwitterYouTubeThreadsInstagramFacebookLinkedIn Submit a question and if we answer it on air we'll send you Future U. swag!Sign up for Future U. emails to get special updates and behind-the-scenes content.
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