The budgetary grip of enrollment.

Many important subjects have been conversed in this class regarding the future state of higher education, the future state of many facets that make up higher education (state funds available, new ways to generate revenue, building a budget and so forth), some external factors that make up issues that higher education professionals need to take into consideration when planning the success of your institution. Planning the financial success of an institution may result in tough and emotional decisions but the correct decisions may be necessary for the sustainability of the institution.

What may be the most important subject spoken about, enrollment projections, is something that is relevant to my personal day to day work. I understand how a budget is built around enrollment projections. I understand the impact of exceeding those enrollment projections or coming up short on those projections. To quote the class assigned text "The development of a campus enrollment plan, based on predictions of acceptance rates for applicants and retention rates for current students, usually occurs on a different than that of the budget process. The enrollment plan in the aggregate must be connected to the budget process because it will influence estimates of tuition and student fees revenues, enrollment-driven expenses such as faculty salaries, and buying decisions made by auxiliaries such as the bookstore and dining services" (Goldstein, 2005).

While pondering the importance of enrollment planning and comparing it to the text this semester, I was interested enough to find an article related to enrollment planning, budget crunching and faculty salaries for a university that is trying to evolve but also trying to keep their doors open. Southern Maine University used enrollment planning and a unique faculty salary spending plan to save their university. While cutting faculty is never ideal and can be an emotional setting for students and faculty, with government officials cutting education more and more each day, innovative budget planning needs to be exercised.

References

Fowler, Richard. [The Richard Fowler Show]. 2015, March 27. Schools Plan Massive Layoffs After Scott Walker Guts Funding. Retrieved from: https://www.youtube.com/watch?v=YoPo_q11_uA

Goldstein, L. (2005). College & University Budgeting: An Introduction for Faculty and Academic Administrators (Third ed.). Washington, DC: NACUBO

Rivard, R. (2014, March 24). Exiled in Maine. In Inside Higher Ed. Retrieved October 4, 2015, from https://www.insidehighered.com/news/2014/03/24/fight-over-layoffs-university-southern-maine-boils-over