ERIC Number: EJ1408006
Record Type: Journal
Publication Date: 2024
Pages: 14
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1360-080X
EISSN: EISSN-1469-9508
Financial Scenario Modelling: A Guide for Universities
Journal of Higher Education Policy and Management, v46 n1 p78-91 2024
Universities face an uncertain funding environment and turbulent marketplace. Financial scenario modelling offers a potential mechanism to assist in navigating a way forward. Our previous paper on UK universities' practice found some variation in the sophistication of the approaches taken, but the overall impression was of a relatively simple approach, with spreadsheets generally viewed as having sufficient functionality to meet current strategic needs. This subsequent paper offers guidance on the construction of financial scenario models. It addresses the key variables that universities may wish to include, and it offers advice on how models might be formulated and evolve. The characteristics of differing approaches taken by universities in meeting their own scenario modelling requirements are explored by identifying three forms of model: basic, intermediate and advanced. The contribution of this paper is to enable universities, in the UK and beyond, to evaluate and improve their own financial scenario modelling practices.
Descriptors: Universities, Educational Finance, Money Management, Budgets, Models, Foreign Countries, Guidance, Vignettes, Costs, Economic Climate
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: United Kingdom
Grant or Contract Numbers: N/A