Colleges and universities operate in a world of continuous change and challenges ranging from demographics and economics to globalization and technology. Strategic thinking demands that boards and chief executives take into account mission and core values, longstanding strengths, future trends, and unique opportunities. Strategic thinking is also about tethering aspirations to reality by a comprehensive strategic plan, long-range financial plan, and the annual budget. No strategic plan is ever complete if it does not identify how much it will cost and who will pay for it. No budget is complete unless its recommendations are justified by the institution’s strategic plan.
Strategic Finance engages strategic planning and budgeting topics and marries them to actionable steps that boards, presidents, and CFOs can take to navigate a course of institutional financial stability. Kent Chabotar draws on his considerable experience and years of practice to craft this comprehensive guide to higher education financial planning and budgeting.
"A very useful, comprehensive book on strategic planning and budgeting. Must reading for board chairs, presidents, and CFOs who are contemplating developing a strategic plan...useful background reading for a board retreat." —William S. Reed, former CFO, Wellesley College
"Kent's emphasis on the implementation phase of the strategic planning process is particularly useful as is emphasis on the board's role in monitoring progress and in developing institutional strategic indicators." —Rick Staisloff, former VP for Finance & Administration, College of Notre Dame of Maryland