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For this Discussion, you will take on the role of a particular stakeholder in an institution of higher education

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For this Discussion, you will take on the role of a particular stakeholder in an institution of higher education. As you learned this week, an institution’s financial state is reflected in its financial statements: Statement of Financial Position, Statement of Activities, and Statement of Cash Flows. First, identify which stakeholder role you want to play. You may be an administrator or manager in a department, a donor or investor, a faculty member, a community or business leader, someone from the U.S. Department of Education, or other stakeholder.

Then consider what data from financial statements would be relevant to you? How can you analyze and use the information provided in the institution’s financial statements? How do your needs and perspectives compare to those of another stakeholder or interest group?

Post a summary of your thoughts on the questions above. Be sure to support your response with references to this week’s Learning Resources and personal references where applicable.

REQUIRED READINGS

Barr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education (3rd ed.). San Francisco, CA: Jossey-Bass.

• Chapter 2, “Primary Elements of the Budget Revenue and Expenses”

Focus on the notable differences in the sources of revenue between public and private higher education and the differences between restricted and unrestricted expenditures.

Goldstein, L. (2019). College and university budgeting: A guide for academics and other stakeholders (5th ed.). Washington, DC: National Association of College and University Business Officers.

• Chapter 4, “Revenues and Resources”
• Focus on the various sources of revenue and income that an institution of higher education receives and the various types of expenditures.
  https://class.content.laureate.net/7a13723a9c89113...
  
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  OPTIONAL RESOURCES

  Desrochers, D. M., Hurlburt, S. (2015). Trends in college spending 2003–2013: Where does the money come from? Where does it go? What does it buy? Retrieved from the Delta Cost Project website: http://www.deltacostproject.org/sites/default/file...

  U.S. Securities and Exchange Commission. (2007). Beginners' guide to financial statements. Retrieved from http://www.sec.gov/investor/pubs/begfinstmtguide.h...
  Note: The following article, and some of the other articles in this course, can be found in the Walden Library databases, accessed from your myWalden page. For each article, select Research Databases and under the title Search for Journals, type the name of the journal in the box next to the pull-down menu that reads "Title equals." Then, search for the appropriate year and issue number to locate your article. As an alternative, after selecting Research Databases, click on the A to Z List of Databases to find a complete list of databases. Search the database (included after each article citation) using the article’s title and/or author(s).

  Tollefson, T. A. (2009). Community college governance, funding, and accountability: A century of issues and trends. Community College Journal of Research & Practice, 33(3/4), 386–402.
  Note: Retrieved from the Walden Library using the Education Research Complete database.

  Association of Governing Boards http://agb.org/

  Delta Cost Project on Postsecondary Education Costs, Productivity, and Accountability https://deltacostproject.org/

  National Association of College and University Business Officers http://www.nacubo.org/