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.