Towards a quality and financial management framework for higher education institution

• Main Author: Baldado, Nintha Lucilla
• Format: text
• Language: English
• Published: Animo Repository 2010
• Subjects: Education, Higher—Finance; Education, Higher—Quality control; Educational Leadership
• Online Access: https://animorepository.dlsu.edu.ph/etd_doctoral/1484
• Institution: De La Salle University

This study aims to analyze both quality management standards and financial management that are practised by selected private higher education institutions. This case study includes a qualitative and quantitative assessment of seven universities to determine their management status, including a pertinent discussion of the financial management standards and ratio analysis of the financial measures of the different universities. The output of this research is an analysis of quality and financial management variables towards a holistic quality management strategy for higher education institutions. As explored in this study, an educational institution must efficiently and effectively manage all the seven (7) variables in quality management, the financial management standards, and the financial ratios and measures in terms of Revenue Generation, Profitability Analysis, Liquidity Analysis, Solvency Analysis, Operating Efficiency Analysis, Facility Utilization, Assets Turnover Ratio, Management of Working Capital (Collection period of Receivables, Payment Period), and Growth Analysis (Revenue, Assets, Net Income) which are indispensable in managing Higher Education Institutions. Organizational performance results in planning, composed of short term as well as long term plans based on the institution’s vision-mission and goals that include strategies for enhancing enrollment, new programs and degrees, research and publications, skills training or upgrading of human resources, and community extension programs that aligned with national priorities – all are important foci of national and international accrediting bodies. Along with this, the plans have to include financial provisions for each item and the corresponding measures and ratios as scorecards. It is hoped that the information from this study, the integrated framework that melded organizational management variables with financial variables, would be used by HEIs to facilitate their strategic planning to attain or maintain excellence. Furthermore, this study hopes to add to the fund of references on the financial management of educational institutions.