What I Wish I Knew

Experienced members of ABACC were asked the question, "What do you wish you had known when you started in the Christian Higher Education industry?"

Here are their responses:

Technical Issues

• More accounting and legal understanding.
• Accurately forecasting the budget based on expected student enrollment.
• Use, regulations, and policies regarding restricted and unrestricted funds.
• Various ways college donations are classified, used and reported.
• Reporting of annual pledges.
• Legal requirements involved in operating an educational non-profit.
• Better understanding of the implications of the Americans with Disabilities Act and how it affects the educational process.
• Benchmarking, financial ratios, and financial analysis.
• Benefits of comparing benchmarks to reference schools.
• Understanding, integrating and adhering to the various reporting and filing requirements for governmental reporting, accreditation reporting, association reporting, etc.
• How to balance tuition pricing and tuition discounting to maximize net tuition revenue.
• Tax laws, minister’s housing allowances.
• Fund accounting and financial statements as they relate to private higher education.
• Accrediting commissions and how they (really) operate.
• The Department of Education and how they (really) operate.

Christian Environment Issues

• How to be a more effective CHRISTIAN administrator and leader in a Christian organization.
• Limitations of partnering with the for-profit business sector.
• How much longer it takes to make decisions in a “shared governance” model.

Leadership / Management Issues

• How best to convey information to the Board of Trustees, some of whom are number-oriented and some who aren’t.
• Understanding the politics of the higher education community.
• Understanding the faculty mindset; working with faculty committees.
• Tracking down and integrating the primary resources for Christian Higher Education business officers.
• Differences between administrative roles, opinions, attitudes and mindsets, including the filters through which each administrator views the educational/institutional process.

• How vastly important it is to have the president’s full confidence and support.
• Importance of good relationships with other administrators.
• Effectively communicating the budget, both “up” to the president and board, and “out” to faculty and staff.
• Importance of quality business/finance recommendations and good communication, especially during difficult financial times.
• How to allocate time between work, family, prayer & worship.