Inside Higher Ed has provided an interesting survey on how management at universities (national survey) thinks about financial circumstances. The chart above gives some indication of what you can find out. It indicates that both financial officers and provosts are skeptical about faculty understanding of financial issues. CFOs are more likely than provosts (academics) to think more spending cuts can be made without an impact on quality although only a minority of CFOs feel that way.
You can find a lengthy article on the survey with a link to the actual document at
http://www.insidehighered.com/news/survey/business_officer_2012
Since there is skepticism about faculty understanding of money issues, we provide this helpful lesson below:
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