{"id":1836,"date":"2024-11-21T06:38:18","date_gmt":"2024-11-21T06:38:18","guid":{"rendered":"https:\/\/knowacademia.com\/?p=1836"},"modified":"2024-11-28T17:44:29","modified_gmt":"2024-11-28T17:44:29","slug":"tips-on-leadership-in-higher-education-3","status":"publish","type":"post","link":"https:\/\/knowacademia.com\/?p=1836","title":{"rendered":"TIPS on Leadership in Higher Education"},"content":{"rendered":"\n\n<\/a>\n

Observations, Tools, and Tactics<\/em><\/strong><\/p>\n
\nEdits and forward by: Jack Corby<\/strong>\n
\nSupport by: John A Stevens of Stevens Strategy<\/em>, LLC<\/strong>\n
\nContact for Further Information or Questions: <\/strong>mtownsley@stevensstrategy.com<\/strong><\/a> or\n<\/strong>mtown@dca.net.<\/strong><\/a>\n
\n\n

\n
\n

Table of Contents<\/h4>\n Forward<\/a>\n
\n Tip #1: Communications<\/a>\n
\n Tip #2: Managing People<\/a>\n
\n Tip #3: Revenue Does Not Equal Cash<\/a>\n
\n Tip #4: The Dangers of Unfunded Tuition Discounts<\/a>\n
\n Tip #5: Limit Authority to Make Cash Purchases<\/a>\n
\n Tip #6: Become a Proficient Public Speaker<\/a>\n
\n Tip #7: Beware of Slush Funds<\/a>\n
\n Tip #8: Small Colleges Should Be Cautious with Large Grants<\/a>\n
\n Tip #9: Review Corporate Documents, Contracts, Operational Policies, and Processes<\/a>\n
\n Tip #10: Learn to Work the Room<\/a>\n
\n Tip #11: Hire Presidents Who Understand Basic Operational Processes<\/a>\n
\n Tip #12: Unity of Command<\/a>\n
\n Tip #13: Manage Time and Energy<\/a>\n
\n Tip #14: Do Not Inundate the Board with Meetings and Material<\/a>\n
\n Tip #15: Allocate Resources to Strengths; Not Weaknesses<\/a>\n
\n Tip #16: Designing a Strong Budget<\/a>\n
\n Tip #17: Leadership and Respect<\/a>\n
\n Tip #18: Forecasts<\/a>\n
\n Tip #19: Cyert Model and Cash Burnout Model<\/a>\n
\n Tip #20: Saving Private Colleges from Financial Failure<\/a>\n
\n Tip #21: Decision Matrix for Colleges in Crisis<\/a>\n
\n Tip #22: How to Manage Transformational Change<\/a>\n
\n Tip #23: Hire the Best Cabinet Officers<\/a>\n
\n Tip #24: Boards of Trustees<\/a>\n
\n Tip #25: Town Gown Relationships<\/a>\n
\n Tip #26: Career Development for Future Presidents<\/a>\n
\n Tip #27: Important Presidential Notes<\/a>\n
\n Tip #28: Be Wary of the Political Model of Governance<\/a>\n
\n Final Note<\/a>\n
\n\n<\/div>\n\n
\n\n

<\/p>\n Since March 1, 2020, 72 American public or nonprofit colleges have closed, leaving scores of students and their\n families, faculty, staff, and community members reeling. While COVID may have exacerbated the issue, financial\n mismanagement within higher education has plagued the industry for decades. Blurred lines of governance, lack of\n strategic planning, and improper handling of cash-on-hand have left numerous colleges scrambling for emergency\n funds,\n cutting corners, and requesting bailouts from their states, communities, and major donors.\n

<\/p>\n Tips on Leadership: A Collection of Observations, Tools, and Tactics <\/em>aims to provide 28 actionable and\n insightful tips to empower decision-makers in higher education to lead effectively, especially during times of\n financial\n crisis. The best thing one can do during a financial crisis is act swiftly and purposefully. Each tip in this\n booklet is\n a practical suggestion for helping to avoid crises by filling in possible cracks before they develop into deeper\n issues.\n When a crisis does hit, these tips can serve as a guide to resolve issues and navigate a new path forward. While\n geared\n toward presidents, board members, and cabinet-level administrators, this booklet can be helpful for a leader at any\n level, especially one who aspires to a significant leadership position in the future.\n

<\/p>\n With decades of expertise in academia, financial management, and strategic growth, Dr. Michael Townsley brings a\n multidimensional perspective to the unique challenges in higher education.\n His background as a former college Chief Financial Officer and consultant has equipped him to understand the\n operational, financial, and strategic facets crucial to institutional success. His commitment to guiding\n institutions\n through multilayered transformations underpins each tip in this booklet, making it an invaluable resource for\n today\u2019s\n higher education leaders.\n

<\/p>\n I invite you to take Dr. Townsley\u2019s Tips to heart and apply them in any way you see fit to better your campus and\n community. This collection of techniques can be an excellent tool to begin thought-provoking discussions for\n accountability at the highest levels. No one wants to be their institution\u2019s final president, provost, or dean.\n These\n tips can guide you in strengthening your institution and contributing to an enduring legacy.\n

<\/p>\n Jack Corby Senior Consultant, Stevens Strategy\n<\/div>\n

<\/h3>\n

<\/h3>\n

\n

Tip #1: Communications<\/strong>\n <\/em><\/h2>\nThe First Tip is that communications must be clear, concise, and coherent in spoken\nand written communications. What are clear, concise, and coherent communications?\n
    \n
  1. Clarity means that syntax is paramount. Grammatical errors can undermine the meaning of the communications.<\/li>\n
  2. Concise communications focus on one topic and not multiple topics or digress into irrelevant comments or\n tangents.<\/li>\n
  3. Coherent communications present internally logical arguments.<\/li>\n<\/ol>\n<\/p>\n

    \n

    <\/a>Tip #2: <\/strong>Managing People<\/strong><\/h2>\nAt its core, leadership is the ability to convince the community to accept and support decisions and plans intended to\nachieve current or long-term goals.\n
    \nBeing a college president is never an easy task, and shared governance with the faculty does not make it easier. A\npre-condition of management is that the board must affirm the decisions and actions recommended by the president.\n
    \nCharles Dwyer, an acknowledged scholar of leadership at University of Pennsylvania\u2019s Wharton School, states that\nleaders, in this case, college leaders, must recognize that individuals place a value on how their work is organized.\nWhen a college president plans to change work structures, they will encounter resistance because employees place a value\non their contribution to the institution. For change to occur, the president will need to identify the cost to convince\nan employee to change how they organize their work. That is, leaders must continuously sort out the values of employees\nto achieve the mission of the college.\n
    \nManaging people is most contentious when the college faces a financial crisis and must eliminate programs and terminate\nemployees. It is in a financial crisis that the old reliable college leadership tactic of minimizing conflict goes out\nthe window.\n
    \nThe simplest way of describing the Dwyer method is that a president needs to recognize the needs of institutional\nmembers. However, as noted above, it may be nearly impossible to serve the needs of all members critical for\nimplementing strategic and operational plans in the middle of a financial crisis. In that case, the president must make\nit clear that while not all members will be satisfied, those who remain will still have a job.\n\nYou might find it beneficial to read Charles Dwyer\u2019s book, The Shifting Sources of Power and Influence.\n<\/p>\n

    \n

    \n Tip #3: Revenue Does Not Equal Cash<\/strong>\n<\/h2>\nOften, college leaders make the mistake of assuming that revenue equals cash. The differences between the two can have a\nsignificant impact on the financial condition of the college.\n
    \nFirst, revenue is the amount that is recorded in the ledger from a sale. In colleges, the sale is for a seat in a class,\nand the price is tuition and fees. Most private colleges grant institutional- unfunded scholarships to students. As a\nresult, the student is only responsible for paying the balance. The following table illustrates the transaction.\n\n \n \n \n \n \n \n
    Transaction<\/strong><\/td>\n Amount<\/strong><\/td>\n <\/tr>\n
    Tuition & Fee Charge for 4 courses (Revenue)<\/td>\n $53,949<\/td>\n <\/tr>\n
    Tuition Discount (56.1% of Tuition & Fees)<\/td>\n 30,265<\/td>\n <\/tr>\n
    Net Tuiition & Fees (Student Pays)<\/td>\n $23,684<\/td>\n <\/tr>\n
    Tuition & Fees figure is the average for 2024; Research.com<\/td>\n <\/tr>\n <\/tbody>\n<\/table>\nIf the student does not pay the full balance or only pays a partial balance, the unpaid amount becomes an expense. If\nthe business office makes no effort to collect the unpaid balance or only a portion remains unpaid, then the balance is\nwritten down as uncollectible. Uncollectible balances could be seen during an audit or reporting as an unfunded\nscholarship, increasing the average tuition discount rate.\n
    \nWhere net tuition drops significantly over time while expenses increase over the same period, colleges will be unable to\ndig themselves out of their fiscal mess. The paradox is that expenses must be in tune with net tuition revenue to avoid\na fiscal disaster. When minimal cash flows into an enrollment- and tuition-dependent college, it is nearly impossible to\nattain financial viability.\n
    \nThe only solution to this situation is to ensure the college has an outstanding CFO with a supportive business office\nand the college begins cutting expenses to become cash flow positive.\n<\/p>\n

    \n

    Tip<\/strong> #4:<\/strong> The<\/strong> Dangers<\/strong> of<\/strong>\n Unfunded<\/strong> Tuition<\/strong> Discounts<\/strong>\n<\/h2>\nTuition discounts are the front line of price competition. Given that the pool of high\nschool graduates is shrinking, and more high school graduates are choosing careers not requiring a college degree,\ncolleges are forced into price competition through tuition discounts. The problem with student discounts is that they\nare phantom sources of revenue and, if mismanaged, can have drastic effects on an institution. They are why audits\npresent net tuition as the bottom line in student tuition revenue: \u201cTuition revenue minus tuition discounts = net\ntuition.\u201d Since tuition discounts are unfunded, they reduce the flow of cash from enrollment.\n
    \nIn 2023, the National Association of College and University Business Officials (NACUBO) reported that tuition discounts\nat private colleges rose to 56.1% of tuition for incoming first-year students. In other words, new students only\nprovided 43.9% of tuition revenue in cash. For continuing students, according to NACUBO, the discount rate was 51.9%. As\nstudents move forward toward graduation, the average tuition discount rate moves forward with them. The NACUBO report\ndata suggests that the discount rate will continue to increase for new first-year students.\n
    \nWhile the 56.1% rate seems high, some colleges have already reached a 70% tuition discount rate. These colleges are only\nnetting thirty cents <\/em>in cash on a dollar of revenue. It is difficult to understand how these colleges can\ngenerate enough cash to support operations.\n
    \nThen there are colleges that contract with third parties to find new students. These enrollment contractors often charge\na 25% rate on new student tuition that they find. For colleges at the 56% discount level, these enrollment contracts\nshrink net tuition or net cash flow of nineteen cents <\/em>on the dollar of tuition revenue. These colleges have to\nbe at the brink of a financial crisis.\n
    \nEnrollment contracts produce a more horrific outcome for the 70% tuition discounters. Under these circumstances the 70%\ndiscounters end up having a tuition discount of 95%. In other words, they net five cents on the dollar. A\ntuition-dependent college cannot survive at this level. It would be surprising that these colleges can survive on a\nfive-cent return <\/em><\/strong>on tuition revenue.\n
    \nWhen private colleges offer very large tuition discounts, they will be forced to look elsewhere than enrollment to save\nthemselves from financial collapse. Since most of these high tuition discounters are enrollment-dependent, they probably\ndo not have many large donors nor a large enough endowment from which they can draw emergency funds.\n<\/p>\n

    \n

    Tip #5: Limit Authority to Make Cash Purchases<\/strong><\/h2>\nColleges that grant broad <\/a>authority to employees to make cash purchases without prior\napproval will lose control over spending. This authority often results in individuals and departments signing contracts,\nbuying supplies, or even hiring new employees without prior approval. In most cases, credit cards are the main culprit\nthat spurs massive off the books cash spending.\n
    \nAllowing members of the college to make off-the-cuff purchases throws budgets out of kilter. These unauthorized\npurchases also drive the business office crazy as they try to reconcile receipts with budget categories. Even worse are\nsupported purchases in which the employee expects to be reimbursed. Unauthorized purchases are a sure sign that the\ncollege has lost control of its cash reserves.\n
    \nThese cash purchases are particularly dangerous to a college in a deep financial crisis because the college is carrying\nliabilities of which they do not know the scale of the problem. The first stage in taking control of purchases is to\nrecall all credit cards; Next, the business office should tell local businesses that a) the college is terminating all\ncredit arrangements with stores and b) the college will not reimburse the store for unauthorized purchases.\n
    \nFurthermore, the president and the board need to inform the college community that cash purchases without prior approval\nwill no longer be reimbursed. There will be unhappiness when receipts are presented for reimbursement and are rejected.\nThis is when the president and the board need to remain stalwart in their decision to end unauthorized cash purchases.\n<\/p>\n

    \n

    Tip #6: Become a Proficient Public Speaker<\/strong><\/h2>\nThere are three types of public speaking: <\/a>a formal speech, an extemporaneous speech,\nand a press conference\/public meeting. These three types involve different skills that require training and experience\nto become proficient. Presidents\u2019 who are uncomfortable with public speaking should develop a coaching plan. For\ninstance, the president could ask for advice from academic departments that offer courses in public speaking. In\naddition, presidents who are neophytes in public speaking could join a group like Toastmasters International. These\nmeetings provide a regular opportunity to speak without the consequences of failure, and their members give non-\nthreatening feedback on a speech.\n
    \nPress conferences\/public meetings usually take place during a period of contention. The best way to prepare for a press\nconference\/public meeting is to hire a good public relations firm with experience in contentious press\nconferences\/public meetings. While the firm will not conduct the press conference, they can rehearse a meeting and ask\npossible questions from the press or the public. A good public relations firm should also have contacts with the media\nso they have some idea of the questions that will be asked at the live event. When there are public meetings, the firm\nshould place members around the audience to monitor reactions. After the conference or a meeting, there should be a\ndebriefing to review performance and to develop follow-up plans.\n
    \nSince public speaking is critical for a successful presidency, it is worth the time, effort, and cost to develop those\nskills.\n<\/p>\n

    \n

    <\/a>Tip #7: Beware of <\/strong>Slush Funds<\/strong><\/h2>\nTypically, slush funds are given by someone outside the college to support an activity of a department or a person\nwithin a department. The beneficiaries see these gifts as under their control and outside the oversight of the business\noffice. In other words, the funds can be used at the whim of the employee or department. When slush funds bypass normal\ncollege controls, it is not unreasonable to assume that they will serve the personal interests of the recipient and not\nthe interests of the college.\n
    \nThe only way to control slush funds is to establish the requirement that all funds received by individuals or\ndepartments that do not pass through the normal channels of gift-giving are to be treated as gifts to the college and\nmust be reported to and deposited by the business office. In addition, any use of those funds should follow standard\nbusiness procedures.\n
    \nAlso, the existence of slush funds and new gifts to those funds should be reported to the board of trustees. They can\neither affirm or deny their use per college policies. After the board has acted and if the funds used are approved, they\ncan be disbursed.\n\nHere are several typical departments that may have slush funds: athletics, student affairs, alumni\n\naffairs, specific academic departments, new projects, or even the president\u2019s office.\n\nIn sum, slush funds are problematic for these reasons:\n
      \n
    1. Slush funds often distort institutional financial strategy and operational plans.<\/li>\n
    2. If auditors are unaware of these funds, an audit is not a true representation of a college\u2019s finances.<\/li>\n
    3. These funds, when used, may not follow college purchasing procedures.<\/li>\n
    4. Decisions to use these funds by the holders of the money may leave the president uninformed about certain\n critical aspects of the institution.<\/li>\n
    5. If the slush funds are large enough, they may allow the area controlling these funds to separate themselves from\n the operations of the college and act as an independent entity.<\/li>\n<\/ol>\nIn sum, slush funds should not be allowed.\n<\/p>\n

      \n\n

      Tip #8: Small Colleges Should Be Cautious with Large Grants<\/strong><\/h2>\nCollege presidents at small, financially struggling colleges may see large federal or private grants as a windfall that\ncan save the college. However, large sums of money accompanied by governmental or private grantor regulations can also\nwreak havoc in a college. Large grants are seductive and potentially undermine college operations and second, boards of\nsmall colleges should not approve separate entities that are independent of the college\u2019s operational structure to\nmanage the grant. Separate entities are vulnerable to loss of management and financial control.\n<\/p>\n

      \n

      <\/a>Tip #9: Review <\/strong><\/a>Corporate Documents,\n Contracts, Operational Policies and\n Processes<\/strong><\/h2>\nIt is well worth the president’s time to become intimately familiar with all the college’s legal documents. Furthermore,\nthe president must often educate the board on their duties and limits. These legal documents include corporate papers,\ncontracts, operational policies, and processes that delineate the legal structure of the college and the limits of board\nand presidential action. Corporate papers include the charter, mission statement, and by-laws. Contracts comprise\nfaculty agreements, student matriculation records, and student handbooks. Operational policies and processes cover due\nprocesses, work assignments, disciplinary procedures, and other documents that lay out how the college operates.\n
      \nIn addition, presidents should become familiar with basic legal terms and concepts to better understand the state and\nfederal legal concepts that govern the college and changes in strategies and plans. One way of familiarizing themselves\nwith the law is to attend seminars on college law. Likewise, they should build a small personal law library with books\non contracts, intellectual property rights, and Black\u2019s Law Dictionary.\n
      \nIn times of crisis, these legal commitments become substantial obstacles to change. If ignored until a financial crisis,\neven small legal challenges can wreck turnaround plans. A prudent recommendation for boards and presidents is to hire\ncompetent legal counsel familiar with higher education law. The college attorney should review strategies and\noperational plans as they are being devised and assist the president in a review of the current legal documents. During\na financial crisis, the board and president, with the college\u2019s attorney, should minimize the risk that a could rule\nagainst turnaround plans.\n<\/p>\n

      \n

      Tip #10: Learn to Work the Room<\/strong><\/h2>\nWhile \u2018working the room\u2019 seems like a minor skill, it is essential for presidents who must introduce themselves to the\ncollege community and potential donors. Many presidents are uncomfortable meeting strangers, but it is vital for their\ncollege to have strangers feel welcome by its leader. The goal should be to go to every table or each person in the room\nand introduce yourself.\n
      \nThe president should arrange to have someone accompany them as they move through the room. This person is like an\nadvance public agent for a politician. The purpose of the public assistant is to whisper in the president\u2019s ear the name\nof the person, their occupation, and their importance to the college. Obviously, it is crucial to have an assistant who\nknows people and may even be on a first-name basis with many people in the room.\n
      \nFormal and informal dinners, community associations, and alumni meetings are typical arenas where \u2018working the room.\u2019\nThis should be done at every public event. Eventually, \u2018working the room\u2019 will become second nature to the president.\nMoreover, this skill will be useful when it comes to running a fundraising campaign or seeking political help for the\ncollege.\n<\/p>\n

      \n

      <\/a>Tip #11: Hire Presidents Who Understand Basic\n <\/strong>Operational Processes<\/strong><\/h2>\nBoards of trustees at small colleges need to recognize that their college cannot afford the usual coterie of chief\nadministrators nor afford layers of administrative support staff. In today\u2019s higher education market, small colleges\nmust take to heart that they must operate with administration and staff who can wear many hats and serve in various\nroles. Even the president needs to be multifunctional. That is, the president may also need to be the chief academic\nofficer and, in some cases, the chief marketing officer.\n
      \nGiven the condition that the president must do more than be responsible for classical leadership functions, the board\nneeds to determine if the presidential candidate has the skills to wear other hats if needed, like acting as the chief\nacademic officer and chief marketing officer.\n
      \nA good president should have experience with academic operations, from scheduling classes, designing curriculum,\nevaluating faculty, understanding the optimum path to graduation for majors, and linking academic programs to labor\nmarkets or graduate\/professional schools.\n
      \nDuring the hiring process, boards should arrange with a third party to evaluate a presidential candidate\u2019s\nqualifications, leadership skills, performance aptitude, and psychometric testing. The latter step is to assess if the\ncandidate has the personal skills to deal with conflict and work toward a solution with a small team. The board should\nalso arrange for an in-depth evaluation of prior work experience. The evaluation should contact and interview prior\nemployers and colleagues. This is not an inexpensive process, but it could reduce the chance of hiring someone who\ncannot do the job.\n
      \nThe board needs to keep in mind that they are hiring a practical, problem-solving president and not a great academic\nscholar.\n<\/p>\n

      \n

      <\/a>Tip #12:<\/strong> Unity of Command<\/strong><\/h2>\nUnity of Command is a simple concept that is hard to accomplish in higher education. Simply, it means that one person\nhas decision authority and is responsible for the employees, the decisions, and actions in a division, a department, a\nproject, or a standard set of tasks. Colleges and universities dilute unity of command by diffusing authority and\nresponsibility across an institution’s departments, divisions, and sectors. This issue is readily evident in the\nrelationship between the faculty and the president regarding academic decisions.\n
      \nMichael Cohen theorized that the diffusion of authority and responsibility is the ambiguities of leadership. In the\nMechanisms of Governance, O.O. Williamson said that these ambiguities generate opportunities for members of an\norganization to exploit for their self-interest. The loss of unity of command often results in self-interested behavior\nthat runs counter to the institution’s goals.\n
      \nHere are several suggestions on how colleges can minimize the ambiguities of leadership and promote unity of command.\n
        \n
      1. The Board of Trustees should clearly state that they retain final authority over all decisions.<\/li>\n
      2. The Board should also state that all employees report to the president, not the board of trustees.<\/li>\n
      3. Review and redesign workflows so that a single person oversees a standard set of tasks, such as matriculation,\n enrollment, financial aid, and graduation flow.<\/li>\n
      4. Assign the head of academic affairs the responsibility to eliminate curriculum overlaps, courses with low\n enrollment to faculty assignments, and course flows that extend the course needed to meet graduation\n requirements.<\/li>\n
      5. Establish IT repair and purchase priorities for a single communication site.<\/li>\n
      6. Regularly publish updated tables of organization and eliminate dotted lines and crossed lines of\n responsibilities.<\/li>\n
      7. Have a directory of job descriptions that lists to who the position reports, the operational goals of the\n division, the responsibilities of that position, and a schedule of reports to be filed with the chief\n administrator.<\/li>\n<\/ol>\n<\/p>\n

        \n

        <\/a>Tip #13 Manage <\/strong>Time and\n Energy<\/strong><\/h2>\nMoney and assets are not the only resources that are scarce in a college. The president and other institutional leaders\nare subject to the scarcity of their own time and energy. These resources can be easily overwhelmed in a financial\ncrisis or when leaders are excessively involved in every decision, no matter how trivial. Decisions made under duress or\nfatigue can yield bad decisions. Here are several suggestions to keep energy levels high and retain control over time.\n
          \n
        1. Assign trivial matters to someone else.<\/li>\n
        2. Establish priorities for issues that require a leader\u2019s attention.<\/li>\n
        3. Schedule time for exercise each day. Even a 30-minute walk around campus can assist in managing your energy.\n <\/li>\n
        4. Set a consistent time to arrive and leave work.<\/li>\n
        5. Try not to bring work home. If you work from home, create physical and mental separation from your work.<\/li>\n
        6. Recharge by taking vacations and visiting friends.<\/li>\n<\/ol>\n<\/p>\n

          \n

          Tip #14: Do Not <\/strong>Inundate the Board with Meetings and Material<\/strong><\/h2>\nBoards of Trustees do not have the time to review piles of material for board meetings. The president should give board\nand committee members reports or action requests that:\n
            \n
          1. State significant issues,<\/li>\n
          2. Present salient data that frames the issues,<\/li>\n
          3. Succinctly summarizes the connection between the data and issues, and<\/li>\n
          4. Concludes by identifying how the report relates to goals and plans.<\/li>\n<\/ol>\nFinally, because board members do not have the time for long, tedious meetings that may take hours or days, reports\nshould be kept to one page and meetings should be restricted to an hour, subject to the importance of the action.\n<\/p>\n

            \n

            <\/a>Tip #15: <\/strong>Allocate Resources\n to Strengths; Not Weaknesses<\/strong><\/h2>\nAllocating resources to the college’s strengths sounds simple enough, yet it can be challenging. Colleges tend to\ncontinue allocation patterns because current funding patterns are evaluated in terms of productivity, support for the\nmission, or contribution to financial viability.\n
            \nWhen allocations, whether operational or capital, are not regularly evaluated, departments will continue to meander even\nafter they have outlived their usefulness. Academic departments are the most complex departments in which to reallocate\nresources toward strength. They seem to prefer their working ways regardless of the college’s cost and their own future\nrisk that if the college has a financial crisis, they might lose their job.\n
            \nMisallocations significantly strain colleges facing financial crises, slowing the redirection of funds toward attracting\nnew student markets and hindering potential revenue growth through marketing campaigns. Meanwhile, many marketing\ndepartments are spending millions to recruit students, and the high rate of competitor spending can push a college out\nof the market.\n
            \nOne way to confront misallocations is to annually review each department’s contribution to the college’s financial\ncondition. These reviews are labor-intensive but extremely necessary.\n<\/p>\n

            \n

            <\/a>Tip #16: Designing a Strong\n <\/strong>Budget<\/strong><\/h2>\nBudgets are where strategies and operational plans play out. Incremental budgets can sink new strategies and plans.\nFurthermore, poorly designed budgets are not good platforms for managing a budget. Here are several suggestions for\ndeveloping a budget that is a robust management tool.\n
              \n
            1. Budgets for the revenue department should include the department\u2019s budgetary goal, a revenue section, how the\n revenue is generated, the expenses needed to achieve the revenue goal, the allocation of college administrative\n support, and the net contribution to the college.<\/li>\n
            2. Instructional departments should show, in detail, their expected enrollment and expenses that encompass the\n costs of full-time and part-time faculty, support staff, and administrative staff.<\/li>\n
            3. Institutional Advancement budgets should highlight the money to be raised, the cost of administrators and staff,\n detailed fundraising goals, and the strategy to attain those goals.<\/li>\n
            4. Marketing and Enrollment Management budgets should include their enrollment goals, the cost of administrators\n and staff, and detailed costs of marketing and advertising plans.<\/li>\n
            5. Academic Support departments should include technology costs, the list of employees and their costs, and the\n number of students expected to use academic support services.<\/li>\n
            6. Student Services departments should include in detail athletic teams, expenses, and personnel needed to support\n resident students, a list of student groups, the number of participating students, and the cost of staff\n supporting the groups. Particular attention should be given to the breakdown of tuition revenue versus student\n fees allocated to Student Services.<\/li>\n
            7. General administration should list the number and cost of administrators, support staff, and major expenditures\n in detail, such as insurance.<\/li>\n
            8. Plant and Grounds Departments \u2013 besides the list and cost of employees, these breakdowns should also identify\n the plans for minor and major projects. In addition, this department should indicate how plant and ground\n operations costs can be reduced or parsed out year over year.<\/li>\n<\/ol>\nFinally, the budget should include a management template and report schedule for monitoring performance.\n<\/p>\n

              \n

              Tip #17: Leadership and <\/strong>Respect<\/strong><\/h2>\nLeaders must respect the community of employees who serve the college because they deliver the services needed to\naccomplish the mission of the college. Here are several suggestions about respect:\n
                \n
              1. Dress for respect – not like someone who expects to hang around buddies at a lounge.<\/li>\n
              2. Do not tolerate disrespect.<\/li>\n
              3. Publicly acknowledge performance in achieving the goals of the college or an action that is an outstanding\n contribution to the community. Awards do not necessarily have to involve money.<\/li>\n<\/ol>\n\n<\/p>\n

                \n

                <\/a>Tip #18:<\/strong> Forecasts<\/strong><\/h2>\nColleges that want to reduce the risk of a financial crisis should test budgets and new programs with a forecast of\nrevenue and expenses. Here are several suggestions for making forecasts:\n
                  \n
                1. Forecast financial performance for net operational income, net capital expenses, and net operational cash.<\/li>\n
                2. Forecasts should have at least a five-year horizon.<\/li>\n
                3. Every new program, including but not limited to academic, student services, marketing, and plant operations,\n should have a forecast.<\/li>\n
                4. The forecast should be tested against the Cyert Model and the Burnout Model. See Tip #19 for more information.\n <\/li>\n
                5. Revenue budgets should compute net tuition price, net student revenue (net tuition price plus auxiliary revenue\n net of expenses), and cash balances. The Marketing and Enrollment Office should also provide marketing,\n advertising, and event campaigns with schedules, expected expenses, and enrollment outcomes. In addition, their\n plans should include personnel compensation and performance goals by position.<\/li>\n
                6. Maintenance and Security budgets should comprise the number of personnel, their compensation, and a list of all\n maintenance projects and their respective costs.<\/li>\n
                7. Major Capital Projects need to identify total costs, funding sources, capital payments if there are loans, and\n annual operation and maintenance costs.<\/li>\n
                8. Operational performance should be compared to the forecast during the fiscal year.<\/li>\n<\/ol>\nThe college should thoroughly review performance and forecasts to identify where and why forecasts diverged and the\nactions needed to eliminate the divergences each year.\n<\/p>\n

                  \n

                  <\/a>Tip #19: <\/strong>Cyert Model and\n Cash Burnout Model<\/strong><\/h2>\nA college can use two financial models to test and build a financially viable institution.\n
                  \nThe first is the Cyert Model, used when the college has generated a series of deficits. The model estimates the total\nfunds needed to achieve financial equilibrium.\n
                  \nThe second model is the Burnout Predictor Model, which estimates when the college will exhaust its cash reserves. The\nBurnout Predictor is computed when the college reports negative changes in operations cash and negative changes in\noperational net assets. The value of the Burnout Model is that it tells the college how much time it has left before it\nis at a high risk of closing. The burnout time estimates also bound the time left to rectify the conditions that are\ndepleting cash reserves.\n
                  \n
                  \n\n CYERT MODEL TO REACH FINANCIAL EQUILIBIRIUM<\/strong>\n
                  \n Change in Net Assets\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0___________\n
                  \n + Credit Lines\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0___________\n
                  \n + Loans from Endowment\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ___________\n
                  \n Total Amount Needed to Reach Equilibrium\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ___________<\/strong>\n
                  \n
                  \n\n CASH BURNOUT MODEL<\/strong>\n
                  \n Total Operational Cash Reserve (A)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ___________\n
                  \n <\/strong>Change in Operations Cash (if negative) (B<\/strong>)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0___________\n
                  \n Divide A by B\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0___________\n <\/div>\n
                  \n <\/strong>\n<\/div>\n<\/p>\n

                  \n

                  <\/a>Tip #20: Saving Private Colleges from\n Financial <\/strong>Failure<\/strong><\/h2>\nHere are steps boards and presidents can take to stem a downward slide into a major financial crisis due to a depletion\nof cash reserves.\n
                    \n
                  1. Identify why cash reserves are being depleted.<\/li>\n
                  2. Are banks threatening to call loans due to violation of covenants?<\/li>\n
                  3. Stop all non-essential cash purchases.<\/li>\n
                  4. Freeze hiring, except for critical positions needed for ongoing operations, like the chief financial officer and\n the head of marketing.<\/li>\n
                  5. If the endowment has a balance, contact the Attorney General to request state approval for a substantial loan on\n the endowment. If possible, use the proceeds to pay off loans carrying large payments.<\/li>\n
                  6. List all unused or under-utilized property that can be sold.<\/li>\n
                  7. Concentrate classrooms, faculty, staff, and administration in as few buildings as possible. If the empty\n buildings cannot be sold, mothball them to save operational and maintenance costs.<\/li>\n
                  8. Run a \u2018Save the College\u2019 fundraising campaign.<\/li>\n
                  9. Eliminate programs or majors with more faculty than students pursuing a major.<\/li>\n
                  10. Design new academic programs to generate larger enrollments.<\/li>\n
                  11. Control net tuition by ending contracts for enrollment services that charge a hefty fee, as these services\n reduce cash produced by new students.<\/li>\n
                  12. Put construction contracts on hold.<\/li>\n
                  13. Hire a reasonable attorney with broad and successful experience in higher education. The attorney will probably\n be busy defending the college in lawsuits and reviewing any contracts and changes in corporate documents.<\/li>\n
                  14. Identify every source of cash, like uncollected receivables, loose cash stored in files, and expensive\n automobiles that could be replaced with less expensive vehicles. For example, replace safety patrol cars with\n golf carts.<\/li>\n<\/ol>\n<\/p>\n

                    \n

                    Tip #21: Decision <\/strong>Matrix for Colleges in Crisis<\/strong>\n<\/h2>\nBelow is a Decision Matrix to be used by Senior Administrators during a crisis for preparing a recovery plan.\n This Matrix should be completed individually by each leader <\/strong>and then answered and compared. Any\n disagreements or lack of understanding should be addressed before planning<\/strong>.\n
                    \n
                    \n\"Decision\n<\/p>\n

                    \n\n

                    <\/a>Tip #22: How to Manage <\/strong><\/a>Transformational\n Change<\/strong><\/h2>\n

                    \n\n Transformational change usually takes place in response to significant threats to the well-being of a college. There\n are\n two forms of transformational management \u2013 1) George Keller\u2019s Big Committee Method and 2) The leadership-driven\n approach. Below is a brief description of both forms.\n
                    \n<\/p>\n

                    \n Big Committee Transformational Change<\/strong>\n\n The big committee is an excellent approach when the college has the time and funds to carry on the complete cycle of\n meetings, reports, forecasts, board reviews, and operational plans. In many cases, the big committee can take\n several\n years and cost several hundred thousand dollars.\n\n Typically, a consulting firm assists the college and the committee in carrying out their tasks. Consultants will\n bring\n their own transformational models that will vary depending on the model’s concepts. In times of crisis, the big\n committee method may not be the best way to respond to a large-scale crisis, especially a financial crisis.\n
                    \n<\/p>\n

                    \n\n Leadership-Driven Transformational Change<\/strong>\n\n As suggested by name, leadership-driven change is typically run by the president, who works directly and intensively\n with all sectors of the college community. The purpose of leadership- driven change is to expeditiously move the\n college\n toward changes that stem the crisis and implement actions that can preserve the college. Usually, colleges in deep\n financial crisis will depend on their president or hire an interim president to lead the transformational change.\n The\n college should not allow their current president to lead the transformational change because they are the ones who\n allowed a significant financial crisis on their watch and may have missed critical signs that a crisis was\n impending. In\n addition, a president who presided over an impending crisis may lack the skills, vision, or drive to respond to a\n major\n crisis effectively.\n<\/p>\n

                    \n\n\n Therefore, a board should consider hiring an interim leader because the interim can take the heat that large\n transformational changes will elicit. When the interim leaves, a viable operation should be in place. The next\n president\u2019s tenure will be calmer, given that the interim did the heavy lifting.\n<\/p>\n<\/p>\n

                    \n

                    Tip# 23: Hire the Best Cabinet Officers<\/strong><\/h2>\nWhile a president is key to the success of the college, the cabinet is vital to the president’s success. Here are\nseveral tips for building a strong cabinet.\n
                    \n\n
                      \n
                    1. A strong, competent cabinet is a necessity, but they are costly to hire. However, they will be worth the\n cost if\n they successfully achieve performance goals while limiting their costs. Furthermore, cabinet officers must\n be\n self-confident to make and justify difficult decisions, present decisions to their personnel, and terminate\n employees.<\/li>\n
                    2. The Chief Academic Officer must have the technical skills to do all the jobs performed by the offices\n reporting\n to them. In addition, they should have experience and the confidence to manage accreditation relations and\n new\n program development.<\/li>\n
                    3. The Chief Financial Officer must be a CPA with experience in higher education accounting practices,\n auditing,\n debt negotiation, cash investments, chart of accounts redesign, cost analysis, financial problem analysis,\n and\n preparing board, presidential, and cabinet reports.<\/li>\n
                    4. The Chief Information Officer should have the experience and ability to manage the college\u2019s administrative\n hardware, lean in and personally execute the administrative system, oversee an IT repair and maintenance\n team,\n purchase systems, hardware, and software, manage telephone systems, run academic systems, and is aware of\n new\n directions in information technology.<\/li>\n
                    5. The Chief Enrollment and Marketing Officer ought to have the experience and ability to design complex\n marketing\n campaigns, purchase advertising services, set- up social media campaigns, conduct events, and supervise a\n soup-to-nuts recruitment operation.<\/li>\n
                    6. The Chief Building and Grounds Officer must have experience in supervising custodial, maintenance, and\n security\n staff. The officer should also be able to do minor repairs. This officer should also have experience\n negotiating\n with security, building, and grounds contractors. Lastly, the chief building and grounds officer should have\n experience overseeing contractors renovating or putting up buildings.<\/li>\n
                    7. The Chief Development Officer must be trained to lead all functions within the advancement or development\n division. This includes experience in managing major fundraising campaigns, donor relations, and alumni\n engagement. They should have the strategic ability to expand the college’s philanthropic base, develop new\n annual and multi-year campaigns, and maintain relationships with major donors. They should be skilled in\n coordinating with external partners and managing a team responsible for grant writing, gift processing, and\n donor stewardship.<\/li>\n <\/ol>\n<\/div>\n<\/p>\n

                      \n

                      <\/a>Tip #24: Boards of <\/strong><\/a>Trustees<\/strong><\/h2>\nBoards of Trustees are responsible for ensuring that the college has the resources, tangible and intangible, to achieve\nits mission. Here are several more suggestions for the board.\n
                      \n\n
                        \n
                      1. The board should be familiar with Roberts Rules of Order <\/em>or any other document that governs the\n decision process of meetings.<\/li>\n
                      2. They should expect agendas and reports that are clear, cogent, and concise. When they receive materials,\n they\n should review them at least twice, coming to meetings ready to guide the institution’s vision.<\/li>\n
                      3. Members have a duty to maintain the decorum of meetings. This can be especially challenging during public\n meetings.<\/li>\n
                      4. Members have an obligation to attend meetings so that quorums are met and motions can be passed. If a board\n member cannot attend meetings, the member should resign so that absences do not adversely affect action.\n <\/li>\n
                      5. Many boards require members to make financial contributions annually to the college.<\/li>\n
                      6. Board officers should rotate at regular intervals. It is not good practice to have the same officers in\n charge\n for long periods because they can become jaded.<\/li>\n
                      7. If the board members and officers are surprised when a severe financial crisis occurs, the officers should\n be\n willing to step aside and assist new leaders.<\/li>\n
                      8. During a crisis, board members must be prepared for long, frequent meetings. The chair is responsible for\n keeping meetings moving forward and action taken on resolutions. Any delays can increase the jeopardy of the\n college.<\/li>\n <\/ol>\n<\/div>\n<\/p>\n

                        \n

                        Tip #25: The town-gown relationship\u00a0<\/strong><\/h2>\nThe town-gown relationship is often fraught with mutual discontent. In the last\nseveral years, the primary source of unhappiness for town folk has arisen from political action that either results in\nboycotts of local businesses or vandalism. It is in the interest of a college\u2019s leaders to minimize discontent and\nfoster mutual understanding. Here are several ways in which colleges can work more amicably with local citizens and\ngovernment bodies.\n
                        \n
                          \n
                        1. Colleges have a valuable service many residents seek \u2013 a college education. Artful presidents can arrange an\n exchange of scholarships and special discount programs for students from the local high school.<\/li>\n
                        2. Colleges need debt for renovations, buildings, and improved services. One or several financial institutions\n can\n arrange debt financing. The local financial agencies benefit by earning interest. Also, capital projects\n bring\n in employees who need bank accounts and spend money at local merchants.<\/li>\n
                        3. It is in the interest of the town and the college to protect themselves from marauding groups participating\n in\n public drunkenness, hooliganism, and the use of drugs. Moreover, the College should not give the impression\n to\n the local community that students and employees can withdraw behind the protective walls of the college when\n their public behavior violates public laws or commonly accepted public behavior, especially during political\n unrest. Colleges ought to work closely with local law agencies to maintain tranquility in the community.\n <\/li>\n
                        4. Colleges need to buy goods and services, and it makes sense for the college and for local businesses to work\n together.<\/li>\n
                        5. The college can offer local institutions another valuable service, such as training programs for schools,\n businesses, government employees, police, and other Training for local institutions<\/li>\n
                        6. Colleges can also make available large meeting places that are unavailable otherwise.<\/li>\n
                        7. Colleges could partner with the local community to facilitate entrepreneurial and technology incubators for\n students, graduates, and local leaders.<\/li>\n <\/ol>\n<\/div>\n<\/p>\n

                          \n

                          <\/a>Tip #26: <\/strong>Career Development for Future\n Presidents<\/strong><\/h2>\nAnyone interested in becoming a president needs to consider doing the following to become a successful manager of a\ncollege with a strong academic reputation that is financially viable.\n
                          \n
                            \n
                          1. Enroll in a presidential leadership program that, in addition to the leadership courses, offers instruction\n in\n higher education finance and basic economics as well as a networking opportunity.\n
                          2. \n\n Arrange for training in higher education law, basic contracts, intellectual property law, and corporate\n law.\n <\/li>\n
                          3. \n\n Map out personal training in these college offices: business, registrar, marketing, admissions,\n fundraising,\n building and grounds, and capital programs.\n <\/li>\n
                          4. \n\n Visit successful presidents and ask them for advice on how to become a successful president.\n <\/li>\n
                          5. \n\n Sit-in on board meetings.\n <\/li>\n
                          6. \n\n Enroll in seminars run by professional associations in higher education.\n <\/li>\n
                          7. \n\n Keep a notebook and regularly write summaries about your training, the issues that you have encountered,\n and concepts\n where you need more information. Review your notes regularly to ensure you are following your own advice.\n <\/li>\n <\/ol>\n<\/div>\n\n

                            \n

                            <\/a>Tip #27: <\/strong>Important Presidential Notes<\/strong><\/h2>\n1. Develop the best and most cost-effective programs to attract new students.\n
                            \n2. Know your student market and the job market for graduates.\n
                            \n\n3. Learn how to read accounting statements and audit reports.\n\n
                            \n4. Review all spending, especially purchases made by cash.\n\n
                            \n5. Check cash reserves, and when reserves are shrinking, find out the cause.\n\n
                            \n6. Require cabinet officers to write annual operational goals and plans and schedule time for reviews.\n\n
                            \n7. Schedule personal visits with all board members, major donors, and alumni clubs.\n\n
                            \n8. Allocate resources toward strengths, not toward failing programs.\n
                            \n\n9. Resolve tough personnel decisions fairly and quickly.\n\n
                            \n10. Provide evidence to the board of trustees that the college has the resources to achieve its mission.\n\n
                            \n11. Understand the ramifications of corporate by-laws, the college\u2019s mission, past and current board resolutions,\nfaculty contracts, faculty and student handbooks, and all process statements used in operations that the Chief\nAdministrative Officer oversees.\n\n
                            \n12. One rule that small private college presidents should always follow: Minimize Debt.\n
                            \n <\/p>\n<\/strong>\n<\/p>\n

                            \n

                            <\/a>Tip #28: Be Wary of the <\/strong><\/a>Political Model of\n Governance\n <\/strong><\/h2>\nJohn A. Stevens and Michael Townsley<\/strong>\nA political model used to govern private colleges and universities goes back centuries in higher education. Its origins\nmay flow directly from the scholars of medieval colleges onwards and have been expressed in C.P. Snow\u2019s novel, The\nMasters, about the election of a new master at Cambridge University. J. V. Baldridge moved the discussion of the effect\nof political decision- making in his political model of governance described in his book Models of University\nGovernance. M.D. Cohen\u2019s and J.G. March\u2019s Leadership and Ambiguity introduced the concept that ambiguities in the\nstructure of the governance of higher education muddle decision-making and make it susceptible to classic political\nmaneuvering that dilutes or obstructs the intentions of college presidents.\n
                            \nIn essence, the political model suggests that a decision about institutional allocation of resources can only achieved\nby building a coalition of supporters. Dwyer\u2019s book, The Shifting Sources of Power and Influence, posits that a leader\nmust account for and serve the needs of players who are critical to support the decision. Simply – a good leader is also\na good politician.\n
                            \nThe Baldridge, Cohen and March, and Dwyer models imply that, like successful political votes in Congress, support for\npolicy changes will require a political coalition and a revision of the proposed policy. The bargaining that necessarily\nmust be part of building a political alliance has the potential of distorting the outcome in a way that mitigates its\nvalue to the institution and may even prove to contradict an institution\u2019s mission and the implied duties of the leader\nto serve the interest of the institution.\n
                            \nIn other words, the political model must not subsume or undermine the institution’s mission and its duty to maintain a\nsound governance system. For instance, political coalitions can undermine the proper delegation of authority, rigorous\nfinancial management and decision-making, and development and adherence to well-considered institutional policies.\nPolitical appeasement must never be allowed to hinder responsible practice. Fear of conflict is the surest cause of\nconflict.\n\n<\/strong>\n<\/p>\n\n
                            \n\n <\/a> Tips on Leadership will not end with this series. As important new Tips come\n to\n our\n attention, we will add them to the publication.\n\n You can reach us for comment and suggestions at \u2013 mtown@dca.net.<\/strong><\/b>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

                            Observations, Tools, and Tactics Edits and forward by: Jack Corby Support by: John A Stevens of Stevens Strategy, LLC Contact for Further Information or Questions: mtownsley@stevensstrategy.com or mtown@dca.net. Table of Contents Forward Tip #1: Communications Tip #2: Managing People Tip #3: Revenue Does Not Equal Cash Tip #4: The Dangers of Unfunded Tuition Discounts Tip […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[8,30],"tags":[],"coauthors":[24],"_links":{"self":[{"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/posts\/1836"}],"collection":[{"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/knowacademia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1836"}],"version-history":[{"count":21,"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/posts\/1836\/revisions"}],"predecessor-version":[{"id":1861,"href":"https:\/\/knowacademia.com\/index.php?rest_route=\/wp\/v2\/posts\/1836\/revisions\/1861"}],"wp:attachment":[{"href":"https:\/\/knowacademia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/knowacademia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/knowacademia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1836"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/knowacademia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=1836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}