Your First 90 Days
December 20, 2023
Are you just starting a position as a chief business officer in higher ed? Or, perhaps you’ve been promoted to a leadership role? What do you need to do in your first 90 days?
Read Important Foundational Documents
- Articles of Incorporation
- By-Laws
- Policies & Procedures
- Employee Handbook
- Faculty Handbook
- Strategic Plan
- Master Plan
- Board Governance Manual (if any)
Read Important Financial Documents
- Debt/Bank covenants
- Current year budget
- Prior year’s budget-to-actual report
- Five-year financial plan (if none, plan to create)
- Capital budget (if any)
- Investment policy (if none, plan to create)
Read Audit & Risk Analysis Documents
- Past two years of 990s, 990-Ts, and audit reports
- Past two years of financial aid audits
- Past five years of management comment letters
- Review the most recent risk assessment and risk management documents (if none, plan to create)
Read Accreditation Documents
Read the most recent accreditation reviews and recommendations.
Get Up to Speed on Legal Issues
- Read significant third-party contracts
- Inquire about current or pending litigation
Begin Building Relationships with Key Personnel
- Meet in person with key personnel across the campus (individually—go to them)
- Cabinet members
- Faculty leadership
- Department heads
- Student leadership
- Your own staff
- Board committee chairs (with approval of your president; ask your president to make these introductions)
- Walk the campus with Director of Physical Plant (every building)
- Attend a faculty meeting (introduce yourself, talk about your philosophies and plans, seek their guidance and input)
- Attend departmental meetings across campus
Schedule Introductory/Exploratory Meetings with Key Outsiders
- Auditors
- Bankers
- Investment managers
- Insurance brokers
- Legal counsel
Prioritize
- Knowing your first year (or more) will be overwhelming, be intentional about your work/life balance
- Be intentional about your ongoing professional development
- Be intentional about building your professional peer network
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