Interview with a Campus CFO: What to Know About Budgets

Amid a year of budget tightening, revenue shortfalls, and staff stretched thin, international offices are feeling the effects of decreased international student enrollment and the COVID-19 pandemic. In this environment, understanding the budget workings and processes on campus can help international educators get a realistic picture of their financial footing. International Educator spoke with Lynne Schaefer, MBA, who has more than 30 years of experience in finance at higher education institutions and is currently vice president for finance and administration at the University of Maryland-Baltimore County (UMBC). Schaefer shares what international educators need to know about the budget process, who really makes decisions about competing priorities, common misconceptions about finance on campus, and more.