budgeting in higher education

Budgeting in higher education involves planning and managing financial resources to support a college or university's goals. It includes estimating income from tuition, grants, and donations, then allocating funds for salaries, facilities, academic programs, research, and student services. Effective budgeting ensures the institution can operate smoothly, maintain academic quality, and adapt to financial challenges. It requires careful analysis, prioritization, and ongoing adjustments to meet the institution’s strategic objectives while maintaining financial stability.