Budgets in higher education Essay

In higher(prenominal) knowledge institutions, best budgeting practices involves the give of proper and excellent coordination of master stick away which establishes every(prenominal) the priorities which have to be undertaken in the institution. This ensures that all the higher education institutions attend to their respective economic and educational goals. The institutions need to have in place excellent and sufficient infrastructure. In depth periodic facilities audits should be done so as to ensure that the facilities are well and adequate. in that respect should be creation of baseline data for the institution so as to enhance planning procedure. The institutions operation budget should have an allocation of sophisticate and renewal. All the needs of the institution should be allocated with the funds available. There is use of rational decision making process which enhances the effective means of budgeting (Caruthers & Orwig, 1979). skepticism two A grand university must always have fair connections with the outside world through a well thought out and effective public relations policy.These much regarded connections go along way, albeit flat and indirectly, in building and maintaining the universitys image as well as being a resource in terms of being an roadway where funds and grants canister be applied for. Many are instances when a university requires finances, out of its budget allocations, to carry out research studies, seminars, fairs, cultural activities and many a(prenominal) other intermittent activities.With these triplet avenues serving the same purpose, there is a possibility that in their course of operations, they might approach a standardised source, knowingly or unknowingly, and end up putting the image of the university at stake. The following are alternatives can be useful in harmonizing their activities (Knapp & Siegel, 2009). Firstly, the three bodies can be streamlined such that their activities are well synchronized and effective without necessarily clashing.For example, the finance operation could be liaising with the universitys story department to source for funds and oversee their use. The alumni organization can be only handling the monies from the alma mater as well as functional with them closely with the objective of raising money courtesy of them. While the universe offices could be dealing with the corporate world with a view of want funds from them. Secondly, all the three bodies can be revamped and made into a whizz entity and even accustomed a new name.With such an action, all the activities that are currently being carried out by the three bodies can be combined. This will eradicate the possibility of a clash of their mandates given the fact that they will all be under a single supervision. References Caruthers, J. K. & Orwig, M. D. (1979). Budgeting in higher education. American Association for Higher Education Knapp, J. & Siegel, D. J. (2009). The note of Higher Education Ma nagement of Fiscal Strategies. New York ABC-CLIO