As colleges navigate increasing financial pressure, many struggle to balance mission with sustainability. In this episode, Jeff and Michael welcome Rick Staisloff, founder of rpk GROUP, for a crash course in how college budgets really work. From centralized vs. decentralized models to the challenges of tuition discounting, Rick breaks down the major drivers of revenue and expense in higher ed. He also highlights why better business intelligence, clearer accountability, and a shift toward ROI thinking are essential for financial sustainability. Whether you're a board member or just curious, this episode offers practical insight into what’s working—and what’s not—in college budgeting. This episode is made with support from Ascendium Education Group and the Gates Foundation.

Chapters

0:00 - Intro

03:45 - How colleges put together their budgets

9:05 - Implementation challenges and best practices

15:04 - Non-tuition revenue sources

26:21 - Cost drivers

29:41 - Solving the “Financial Bucket Problem”

35:41 - Deferred maintenance

38:11 - Shifting to an ROI mindset

41:04 - The levers to pull

43:14 - On the margins

46:44 - College cash sources

49:03 - Our most promising strategies

Relevant Links

RPK Group Official Website

Access the official online presence of RPK Group, the consulting firm founded by episode guest Rick Staisloff. This resource provides further information regarding their advisory services in higher education finance and the development of sustainable institutional business models.

Responsibility Centered Management (RCM) Manual - Kent State University

This document offers a comprehensive exposition of Responsibility Centered Management (RCM), a decentralized budgetary framework prevalent within higher education institutions. Review for detailed insight into its operational principles and implementation methodologies.

Tuition Discounting Hits Another High - Inside Higher Ed

Consult this article for current data and analysis pertaining to the escalating rates of tuition discounting at private nonprofit colleges. The content elucidates the impact of institutional financial aid on net tuition revenue, a critical financial metric discussed herein.

A National Study of Capital Infrastructure at Colleges and Schools of Agriculture | APLU

This report details the substantial and accumulating challenges of deferred maintenance across tertiary education establishments. It provides quantitative data and analytical perspectives on infrastructure-related financial burdens as referenced by Mr. Staisloff.

Understanding Enterprise Resource Planning (ERP) Systems in EdTech - Ellucian

This resource provides an overview of Enterprise Resource Planning (ERP) systems, elaborating on their function as integrated platforms for managing administrative and academic operations. It highlights their utility in enhancing institutional efficiency, business intelligence, and data-driven strategic planning within higher education.

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Chapters

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Rerun: Higher Ed 101: College Budgets Explained

Future U Podcast - The Pulse of Higher Ed