In the case that there is a budget/revenue surplus, it is important to have a plan on how to distribute those funds because the decision will be highly scrutinized.

1.  In the case that there is a budget/revenue surplus, it is important to have a plan on how to distribute those funds because the decision will be highly scrutinized.

Barr & McClellan offer a few strategies for allocating additional resources but what other areas/people/programs would you see as a beneficial recipient to funding? Please offer 2-3 ideas with a description of why you selected it/them and what effects would the additional funds have? (1 page with textbook reference + two additional references)

2. Throughout the text, Barr & McClellan make mention of the role grants play in an institutional budget. In this chapter they caution budget managers to have a plan for when grant funding concludes. We’re going to back track a little and read more about working with a grant in an article features in the Fall 2014 Grant Professional Association publication.

Please read the article and discuss below some of the things you learned and questions you have about grants. For some institutions, grants will be composed of millions (closing in on billions) in funding each year, for others, it will only amount to a few thousand dollars. It is important to know how grants can impact your current institution.

 (1 page with textbook reference + two additional references)

3.  Chapter 7 discusses the impact a natural disaster can have on an institution, specifically in how it relates to the budget. Please find an academic article discussing the financial crisis a natural disaster has caused on a college campus in the last decade.

Summarize your article and give insight as to how the institution covered some of the immediate costs, what outside funding/resources were available, and how have they recovered?

 (1 page with textbook reference + two additional references)

Question 1

Moreover, the idea will enable the staff to acquire some strength in the economy due to self-dependency and also by giving back to the society through the creation of employment opportunities for both the graduates from the school and other people in the community as well.

References

Barr, M. J., & McClellan, G. S. (2010). Budgets and financial management in higher education. John Wiley & Sons.

Barr, N. (2004). Higher education funding. Oxford review of economic policy, 20(2), 264-283.

Zusman, A. (2005). Challenges were facing higher education in the twenty-first century. American higher education in the twenty-first century: Social, political, and economic challenges, 2, 115-160.

Question 2

Grants are one of the sources of funds that are offered as gifts and donation to a nation or institutions from friends or other supporters. According to Barr, the grants that are received in the higher education are mainly from the alumnus and government. The grants constitute part of the budget in many of the universities especially the public universities like Oxford University and the University of California and others. Grants are very much essential for the efficient running of the institutions because it constitutes millions of dollars. For example, university of California receives approximately $1.5 million every year for the management of the school. This is used in the payment of the staff, building projects, running of the support for needy students and others.

The constant flow of grants to the institution where I study will be of great importance and will aid in doing a lot of projects. I perfectly believe that if the institution can get $1.5 million grant each year from either the government or the supports, the dead projects like construction of the new accommodation for the students (Howells, 2006). Moreover, the funds would also help the students who are unable to pay for their tuition fees through the provision scholarship programs. In addition to the above benefits, the grants will increase and aid to stabilize the current unstable funding of the institution through expansion and filling of the essential gaps that might exist in the society. Perhaps, the questions include; should grants be subject to tax or not? And again is it okay for one institution to receive many awards while others don’t get even one? Is there the policy that guides the issue of grants (Arrow, 2000).

References

Arrow, K. J. (2000). To profit or not to profit: The commercial transformation of the nonprofit sector. Cambridge University Press.

Barr, M. J., & McClellan, G. S. (2010). Budgets and financial management in higher education. John Wiley & Sons.

Howells, J. (2006). Intermediation and the role of intermediaries in innovation. Research Policy, 35(5), 715-728.

Question 3

The most typical financial crisis is the great depression that took place in the year 2008. During this period many of the banks and other financial institutions closed up as many people lost their jobs due to excessive borrowing that was not being controlled. In the last decade, most of the establishments in the United States of America such as the University of Florida as some of them also closed down due to the increased inflation. According to the article, the universities also engaged in the borrowing process to meet up the needs and the demand of the budgets. The loans that the university took from the banks were not spent wisely through finance generating activities but were used to build some of the social amenities like the student centers. Additionally, the accommodation for some of the staff was also made as the top leaders in the university gets fancy vehicles (Barr & McClellan, 2010).

The end of the crisis was important and very good time for the university as they start a new environment to pay for the debts that were outstanding (Kotz, 2009). The government and other supporters of the economy joined hands to assist the university pay the debts and get rid of any attachment with the banking institution’s policies of taking the some of the facilities within the school when they failed to meet up with the agreement. The availability of the grants and other funds through the cut of the budget was essential and aided the university in recovering to normality. The students were also made to pay more of the tuition fees as the support assistance for the scholarship was cut to maintain the figure and not reduce expected value (Hill, 2008).

References

Barr, M. J., & McClellan, G. S. (2010). Budgets and financial management in higher education. John Wiley & Sons.

Hill, C. (2008). International Business: Competing in the global market place. Strategic Direction, 24(9).

Kotz, D. M. (2009). The financial and economic crisis of 2008: A systemic crisis of neoliberal capitalism. Review of Radical Political Economics, 41(3), 305-317.

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