As colleges and universities navigate ongoing financial challenges, the concept of financial exigency has become increasingly relevant. But what exactly does it mean, and how can institutions determine if and when to declare it? More importantly, what are the risks of not declaring financial exigency when facing severe financial distress?
Join us for an informative webinar designed for higher education leaders, administrators, and financial officers seeking a clear understanding of financial exigency. We will explore:
- The definition of financial exigency and its role in institutional financial management
- The process of declaring financial exigency and key considerations for leadership
- Financial and operational implications of a declaration
- The consequences of not declaring, including long-term financial and reputational risks
Join Deanna McCormick, NACUBO consultant and former vice president for finance and administration at multiple schools, and Ruth Johnston, vice president for consulting at NACUBO, will lead a thoughtful discussion.