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General Ohio University Discussion/Alumni Events
Topic:  WSJ: How Colleges Spend Money

Topic:  WSJ: How Colleges Spend Money
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giacomo
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Member Since: 11/20/2007
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  Message Not Read  WSJ: How Colleges Spend Money
   Posted: 8/11/2023 7:04:41 PM 
https://www.wsj.com/articles/colleges-urged-to-produce-be...

Great article about state universities and how they blow money in the higher ed arms race.
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Alan Swank
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Member Since: 12/11/2004
Location: Athens, OH
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  Message Not Read  RE: WSJ: How Colleges Spend Money
   Posted: 8/17/2023 2:48:56 PM 
giacomo wrote:
https://www.wsj.com/articles/colleges-urged-to-produce-be...

Great article about state universities and how they blow money in the higher ed arms race.


In case you can't get in. Telling statement.

“The fault lies with governing boards,” said Marty Kotis, a trustee at the University of North Carolina at Chapel Hill since 2021 who previously served on the oversight board for the UNC system. When he first started seeking financial information about the system a number of years ago, he said, he struck out with university administrators. Instead, he had to track the figures down with the state auditor.

“They’d just never been asked this before,” he said, adding that without that pressure, universities’ finance offices are less likely to produce detailed, digestible reports.

“Prior boards were merely ceremonial. If you’ve got a board that never asks about financials and just wants to talk about winning the next game or when the cocktail party is, they are not going to get a lot done,” he said.

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giacomo
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Member Since: 11/20/2007
Post Count: 2,623

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  Message Not Read  RE: WSJ: How Colleges Spend Money
   Posted: 8/19/2023 4:10:20 PM 
So true. They thought the student loan gravy train would never end. Just add to the amenities and raise tuition.
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