Managing an Education Abroad Budget

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Contribution to Books

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Managing the budget and cash flow of an education abroad office is critical to a program's growth and expansion. However, many international educators are never formally trained in the budget and financial management process. This chapter emphasizes the concepts of planning, patience, and creativity. Planning is critical to the budget process, but plans must be nimble to react to changes, and to manage the unexpected. Patience is essential; it can take years for some projects to be successful or to be approved by upper administration. Having a creative or entrepreneurial spirit is a unique concept. While higher education institutions are different and some cannot be entrepreneurial, creativity is a benefit to all, and offices need new ideas to move their mission forward.