In this timely book, financial consultant and experienced college
administrator Mike Townsley examines the financial and strategic
resources that private colleges and universities must have in place to
withstand the storm. Small college presidents, CFOs, planners, chief
academic officers, and board members all have a hand on the tiller and
will find substantive guidance here on analyzing financial condition,
reshaping strategy, implementing best practices, weathering rocky
periods, and designing turnarounds.
Readers will learn: Current
financial conditions and statistics for private colleges and
universities Economics of markets, prices, and constraints that drive
private institutions Common financial structures Model practices
employed in a well-run business office Typical business models that
are the framework for strategy, operations, and finance Recommended
policies and procedures to safeguard against disaster Strategic
planning for optimum performance Leadership qualities and
characteristics Warning signs of financial distress Comparative case
histories of private colleges that have succeeded and failed Lessons
learned from college closures and steps for dramatic turnarounds A set
of principles for building and sustaining strategic momentum
Looking ahead to looming financial pressures, Townsley offers advice on
maintaining a forward momentum detailing specific measures for
monitoring performance and posing top-of-mind questions that will help
financial officers maintain the vigilance required to turn a problem
into an opportunity.
