CHAPTER 12

Financial Management in Higher Education

Neal King and J. Mark Munoz

Financial Management in Higher Education—particularly from a global perspective—is a vast and complex world unto itself. It typically involves some constellation of influencing forces such as governing board, president/rector/CEO, CFO/Comptroller and staff, legislative body, Ministry of Education, and multiple sources of funds.

Across institutions, resource availability and accessibility can be quite diverse. For instance, the citizenry in many countries—through their taxation systems—assure free higher education to all, sometimes including even international students. In the developing world, rectors and presidents almost always cite their battle for resources with ...

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