East Carolina Budget Case Study

Introduction Previously, I worked for East Carolina University Admissions as a Tour Guide. East Carolina’s Admissions, just like many other universities, are constantly working on marketing and enrolling students. This is what helps them maintain their funding and budgeting to meet all the needs of the students. A university may not seem the typical everyday business, but it is still one that requires major budget planning and control. Several compelling reasons that the university should prepare and manage their budget are because they must be prepared for the amount of students they accept versus the actual students that enroll. In addition, this leads to the other reason being once they are enrolled that all the departments of the students desired major are properly funded, for the students education.

Positive financial outcomes for East Carolina University or any university is that if they do practice effective budgeting, than they will be able to retain more students. By retaining more students,

It is difficult to categorized budgeting in simple basic phases since with budgeting there can be many sub-phases as well. When dealing with a university one must keep in mind that a university provides more services than actual tangible goods. However, we could outline a high-level budget into three basic phases, which could later break up into larger or smaller sub-phases. First would be labor cost, which would include any cost of staffing. This includes all higher-education staff and campus grounds maintenance. Second would be the material cost. Even though a university provides more services than actual goods, the material cost would be equipment and supplies for the university and students to operate. Lastly, the third phase would be miscellaneous or any other cost that is not labor or material. One great example that would fall under this category would be