Taylor, Mark P. (2013) What is good university financial management? Perspectives: Policy and Practice in Higher Education , Volume 17 (Number 4). pp. 141-147. doi:10.1080/13603108.2013.835289

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Abstract

In the current and foreseeable harsh UK higher education environment, aspiring to best- practice financial management will be key to ensuring the prosperity – and indeed the survival – of any university. In this article I argue that good university financial management should provide stability to the institution, allow for investment as well as renewal and the exploitation of opportunity, be transparent enough to facilitate accountability and good governance, and ensure that the institution allocates resources efficiently in the context of its strategic plan. I explore in detail the issues relating to this fundamental definition of good financial management, including the role of financial management in inducing stability, short-term solvency and reserves, managing financial risk, capital expenditure and long-range planning, developing a diversified funding base, embedding good financial management in university culture, the relationship between financial planning and strategic planning, and financial accounting and control.

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Perspectives: Policy and Practice in Higher Education
Publisher:	Routledge
ISSN:	1360-3108
Official Date:	21 January 2013
Dates:	Date Event 2013 UNSPECIFIED 21 January 2013 Available
Volume:	Volume 17
Number:	Number 4
Page Range:	pp. 141-147
DOI:	10.1080/13603108.2013.835289
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Related URLs:	Publisher

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