Higher education leaders cannot flinch in the face of tough decisions. You know your institution’s financial health is crucial to your ability to continue serving students in an industry environment with evolving risks and challenges. Finding a reliable path to financial sustainability has grown complex for most colleges and universities. However, identifying a path to financial viability isn’t always straightforward.
That’s why FORVIS created our Financial Sustainability Services line. This suite of consulting services can be scaled to meet a range of needs—from budget and business strategy consulting to financial modeling and scenario planning. We also can provide in-depth, data-driven analyses of your courses and programs to help you boost financial sustainability.
Our higher education consulting professionals dedicate themselves to assisting institutions as they face these challenges and more. Contact us today to find out how FORVIS can help your institution make informed operational decisions and better meet student demands and workplace needs.
The focus of this year’s Outlook is turning the one-time gains from the pandemic into positive economic momentum. Many schools experienced significant increases in revenue from the Higher Education Emergency Relief Fund (HEERF), Paycheck Protection Program (PPP) (with its related loan forgiveness), Employee Retention Credits, and other gains.
Some schools enjoyed added contributions and the positive impact of investment earnings (those experienced prior to 2022). In many cases, these substantial one-time gains were visible in fiscal year (FY) 2021 external financial statements. Some of this activity also carried into FY 2022, including Employee Retention Credits being harvested. Knowing this largesse will end shortly is a reminder that forward vision is more important than ever.
