In this article we explore the experiences of principals and school governing body (SGB) members about the implementation of internal financial processes to manage school finances. To avoid the mismanagement of school funds, SGBs are compelled to design and implement internal financial processes. However, many SGB members lack the necessary…

Purpose: Public education is an important institution in any democracy, and the significant resources invested form a critical pillar in its provision. The evidence used to manage said resources is, therefore, an important issue for education leaders and a matter public interest. The purpose of this paper is to consider the role education finance…

The purpose of this research was to explore the factors that contribute to a chief financial officer's (CFO) success and demise within a higher education setting. Relatively little attention has been given to the study of leadership in educational institutions (Vroom, 1983). Leadership defines what the future should look like, aligns people with…

In this opinion piece, the author reflects on some similarities with the National Health Service (NHS) in England, which has a long history of leadership tensions as hospital trusts have tried to wrestle administrative and operational decision-making away from clinicians and consultants.

This case provides a summary of a situation in which a newly appointed superintendent and his new chief financial officer of a midsized urban school district uncover a massive set of fiscal problems which had been previously hidden from the Board and most other stakeholders. How do the district's top leaders make decisions about how to address the…

Community colleges remain an important component of higher education in the United States, offering readily-accessible education and career training to a diverse array of students from different backgrounds. During the 2007-2009 economic recession, community colleges experienced enrollment increases. Simultaneously, however, community colleges…

Policy changes to school governance have led to Governing Bodies (GBs) increasingly appointing skilled professionals from the business community. Research into these GBs views governors from business as a threat to lay governors and the stakeholder model. Whilst there has been exploration of the contributions of business governors, the ways in…

Districts around the country have been forced to reduce personnel and programs because sufficient funds are unavailable to maintain what are commonly referred to in education as "level service budgets." Perhaps it is time for school business officials (SBOs) to engage in serious conversations about whether K-12 public schools should place greater…

Educational policy makers (e.g., legislators, state and local school boards) continue to promote inter-district service consolidation as one method to reduce operating expenditures citing economies of scale as the source of any savings. This study uses survey data to identify the extent of non-instructional service consolidation in Michigan, with…

Traditionally, district and corporate leaders regarded chief financial officers, or CFOs, as chief accountants. They were the individuals tasked with ensuring financial compliance, settling the books, creating reports, and cutting costs. The CFO was inherently risk averse and internally focused; he or she was there to backstop the ambitious plans…

One important effect of increasing localized autonomy, authority, responsibility, and accountability has been a growing yet understated recognition that effective business management is an essential component of educational leadership. The education business is expanding and becoming more complex and requires propitious oversight. As a result,…

The purpose of this study was to identify financial management strategies that school business officials have found most successful in achieving school district financial stability. To accomplish, 208 Illinois school business officials in six counties: Cook, DuPage, Kane, Lake, McHenry, and Will counties, excluding Chicago School District 299,…

The effects of the Great Recession of 2007-2009 continue to challenge school business officials (SBOs) and other education leaders as they strive to prepare students for the global workforce. Economists have borrowed a word from chemistry to describe this state of affairs: hysteresis--the lingering effects of the past on the present. Today's SBOs…

The National Association of College and University Business Officers' (NACUBO's) "Guide to Unitizing Investment Pools" addresses the principles and concepts for administering a consolidated investment pool. Unitization is the mechanism by which investment funds are pooled to maximize investment efficiencies and provide information for donors,…

State fiscal support for public higher education is declining, particularly during recessionary periods. Public colleges and universities have limited channels of revenue and depend on state appropriations for current operating needs. There is an imperative now for public institutions to do more with less, be more efficient and effective in order…