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Dealing With Financial Challenges: A Provost’s Perspective

The author, who has served as a provost for over two decades, shares their perspective on the financial challenges faced by higher education institutions. They discuss the various forces that contribute to financial distress, such as falling enrollment and overspending, and emphasize the importance of considering what should be done rather than what can be done when making decisions about new programs or grants. The author also explores the impact of financial distress on an institution’s mission and the potential need for restructuring. They conclude by highlighting the difficult process of declaring financial exigency and the importance of adhering to institutional policies and supporting faculty and staff during transitions.

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