Colleges and universities face complex challenges in navigating their planning and budgeting processes. With the expectation of improving effectiveness while also increasing efficiencies, resource allocation has become a difficult skill to master. More than ever, institutions are turning to data and analytics to help inform those decisions, from the day-to-day operations to investments in strategic initiatives.
It is clear that many colleges and universities adjusted their processes during the COVID-19 pandemic. As institutions look to FY22 and beyond, what additional changes will need to be made, and what role will analytics play? Discover how colleges and universities are using reserves, assessing academic costs, forecasting, and reviewing the efficiency of space utilization on campus.
This special half-day online event will cover the role of analytics in making planning and budgeting decisions. Attendees will learn how to use data to make difficult decisions, how analytics can help leaders understand cost and revenue drivers, and how dashboards can display data to various stakeholders and support decision-making.
Planning and BudgetingWebcastWorkshop
What You Will Learn
NACUBO’s professional development programs are designed to deliver the skills, concepts, and best practices for success to individuals in the business of higher education. The following course information is provided to help you determine the best learning experience to meet your needs
Develop both the technical and interpersonal skills needed to use data and analytics more effectively at your institution.
Develop strategies to translate your institution’s data and analytics to actionable information.
Identify ways data and analytics can better inform, support, and guide decisions made throughout planning and budgeting processes.
Who Should Attend
Academic Officers
Assistant Vice Presidents for Finance and/or Administration
Budget and Finance Analysts
Budget Directors
Budget Managers
Controllers
Planning Officers
Unit Business Managers
Prerequisites
No prerequisites and/or advance preparation required.
CPE Information
Estimated 3.5 CPE Credits in Finance
NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org.
Rates
Registration assistance: 877.797.7698 or support@nacubo.org
Colleges and universities are confronted with seemingly diametrically opposed goals—to increase operational efficiencies and to improve outcomes. The balancing act this creates isn’t new to higher ed, but the wake of COVID-19 has placed added pressure on leaders. Following the words of Winston Churchill, “Never let a good crisis go to waste,” panelists will share how they talk about institutional priorities with fellow institutional leaders. They will answer questions such as: What processes do you have in place to align priorities with your budget? How do data support these processes? How do data help leaders make difficult decisions about priorities and resource allocation?
Session Duration: 75 minutes; 12 - 1:15pm ET
1:30 PM
Demo Session: Anaplan Connected Planning and Analysis, Featuring New York University
Join this live demo session to learn how colleges and universities are leveraging the Anaplan cloud platform to transform budgeting, planning, and analytics. This demo session will feature a customer case study, with NYU joining to share how the university uses Anaplan to optimize resource allocation and improve strategic decision-making through scenario modeling and analytics.
Session Duration: 30 minutes; 1:30 - 2:00pm ET
2:15 PM
Activity-Based Costing as a Tool for Space Management
While the main focus of activity-based cost (ABC) analysis tends to be on the cost of academic programs, fully loaded ABC analyses also provide rich and useful information about the impact of space allocation and usage on overall costs of operations in higher education. ABC analyses can help leaders understand the interaction between space type and space use, the consequences of growing programs or activities with high space needs, and the impact that nonacademic space allocations have on overall institutional costs. Participants will gain a good understanding of space-related costs, ways that those costs are typically allocated in an ABC analysis, and how to derive metrics that can help leaders identify opportunities to allocate space more effectively and either reduce costs or increase the productivity of this important resource.
Explore a data-informed approach for predicting the lifecycle of large equipment replacement, allowing for regular, annual planning of funding necessary to support this objective. Effective equipment refreshment planning is necessary to avoid business interruptions and to ensure the safety and efficiency of equipment in use. Discover how predictive modeling allowed for the determination of future equipment replacement timing and funding alignment.
Uncertainties brought on by the pandemic have complicated planning and budgeting processes. Dashboards can be an effective tool for college and university leaders… but only if they provide access to the right data and information in a timely manner to appropriate stakeholders. In this session, panelists will discuss best practices for developing and using dashboards.
