Posted: September 23rd, 2022
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Week 3 TOPIC(S): Department/Unit Revenue. According to Barr and McClellan (2018) “[h]ow to do more with less seems to be the question preoccupying budget managers in higher education in the United States and around the world today” (p. 172). For example, the economic impacts of the Covid-19 pandemic have affected the financial stability of colleges and universities all over the United States; therefore, budgets have to reflect these changes. Furthermore, budget managers must pursue strategies and resources to ameliorate the challenges of budget cuts and reductions when planning future budget proposals. Based upon the list of revenues and expenses provided this week, as well as your readings, provide at least two detailed examples of how department/unit budget managers may generate (if appropriate), acquire, or increase department/unit revenue while ameliorating the effect of rising expenses. Important: Weave the evidence from the text and additional readings, where appropriate, into your response. Paraphrase the readings to support your answers, giving credit for the original author’s ideas via in-text citation and bibliographic reference. This helps us, as academic researchers, understand where you drew your evidence from. Only quote directly when absolutely necessary. Discuss. Analyze. Just quoting the book is not really answering the question as it relates directly to your budget proposal. Think and dig deeper. Title Budgets and Financial Management in Higher Education Author Margaret J. Barr (Contribution by); George S. McClellan (Contribution by) ISBN 978-1-119-28773-5
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