The changing role of business officers in US PSE

July 25, 2014

One theme at the 2014 meeting of the National Association of College and University Business Officers (NACUBO) was the changing role of chief business officers (CBOs) in US PSE. Increasingly, campus chief business officers (CBOs) must act as educators who are capable of reaching a variety of groups ranging from trustees and senior administrators to faculty and students. CBOs must also increasingly become creative, strategic thinkers. NACUBO President John D Walda emphasized that CBOs need to move away from notions of a single business model for PSE. “It all depends on what your mission is, and it depends on your size, whether you’re public or private, and whether you’re well-endowed,” he said. He also added that a “doom-and-gloom” perspective on PSE finances is “an oversimplification.” Walda also added that CBOs need to look at cutting costs as well as increasing revenue in order to find a sustainable business model. Others emphasized the need to take advantage of marginal returns and improve the efficiency of PSE spending. The Chronicle of Higher Education (Subscription Required)