University Finances: Accounting and Budgeting Principles for Higher Education

An essential and comprehensive guide to university finances. In University Finances, higher education expert Dean O. Smith * demystifies basic accounting procedures, budgets, debt financing, and financial statements * explores more unusual financial topics, such as methods for calculating fringe benefit rates, bond refunding costs, and indirect cost allocations * shows that the use of university wealth is highly restricted by donors, bondholders, government regulators, and others * answers nuanced questions, like “How are USDA formula funds calculated?” and “Why does the university pursue more and more research funding when it loses money on every grant?” * illustrates financial calculations using realistic examples Some of these explanations are unavailable in print or online to anyone but a handful of professional accountants. Rigorous, detailed, and wide-ranging, University Finances is a unique and powerful resource.