Voices

Interview with a Campus CFO: What to Know About Budgets

A conversation about what international educators should understand about budget allocation, program proposals, navigating dips in revenue, and more.
Understanding the budget workings and processes on campus can help international educators get a realistic picture of their financial footing. Photo: Shutterstock
 
Charlotte West

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. Schaefer is currently the vice president for finance and administration at the University of Maryland-Baltimore County (UMBC), where the international office maintains an exemplary working relationship with her office.

headshot of Lynne Schaefer
Lynne Schaefer, MBA

“Every day is different,” Schaefer says of her work, which includes overseeing all financial aspects of the university in addition to facilities, human resources, the campus police department, and auxiliary services. “We’re kind of invisible to most of the campus unless things are going badly. But that’s how it should be. We recognize that our role is to provide the foundation for the university to be successful—to make sure that everything works well, to make sure that people have the personnel and facilities and everything they need to be successful.”

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.

Listen to this interview on the March episode of the International Educator podcast.

 

What should international education leaders understand about what your job entails and what you are looking for in their budget proposals? 

Subscribe now to read full article

Already a NAFSA member or subscriber? Log in.