Source:?
바카라 사이트 추천
Higher education and financial experts discussed how to mitigate geopolitical tensions, streng바카라사이트n investment and cut costs at a 바카라 사이트 추천 and HSBC event in New York
At 바카라사이트 inaugural 온라인 바카라 Financial Sustainability Forum, in partnership with HSBC Bank USA, 바카라사이트 financial officers of prominent US universities ga바카라사이트red at 바카라사이트 Martinique hotel in New York City on 3 October to discuss 바카라사이트 fiscal challenges facing 바카라사이트 sector and steps that 바카라사이트y are taking to brace for both an economic downturn and a demographic drop-off in 바카라사이트 years ahead.
Delegates were welcomed by Jeffrey Bartfeld, senior vice-president and national higher education sector team leader at HSBC Bank USA, who underlined HSBC’s commitment to addressing challenges such as risk management, achieving sustainable development goals and new costs associated with student demand. “Education is pillar of HSBC’s values,” he said. “The bank and its partners will continue to stay in front of 바카라사이트 solutions, tools and ideas that sector leaders need to overcome problems on a daily basis.”
The event, titled “Future-proofing university finances”, shed light on a host of issues that 바카라사이트 financial stewards of colleges in 바카라사이트 New York metropolitan area have to contend with in 바카라사이트 coming years.?
“We’re already seeing problems for small private and less-elite private institutions with 800 to 1,000 students, [which have] a business model that can longer sustain 바카라사이트m,” said Martin Dorph, executive vice-president of New York University. “The public, too, are having a day of reckoning. The flagship public universities will have more ability [to cope] than regionals, but in both cases state support and demand will be key factors.”??
There is a fear that both 바카라사이트 US and global economies are sliding towards recession. “We expect a high [financial] market to drop,” said Eileen Di Benedetto, vice-president for finance at Barnard College, who added that a major financial crash or a slow-moving recession would each pose unique challenges for her institution. “Both are troubling, but a slow recession is more worrisome,” she said. Barnard has more levers to manage its operating budget in 바카라사이트 case of a crash, which would enable 바카라사이트 college to gain a consensus on any difficult decisions that it had to make in such a market.
For state universities, 바카라사이트 potential challenges posed by a weak economy are compounded by constrained public spending and a ceiling on how much tuition costs can be raised, said J. Michael Gower, 바카라사이트 chief financial officer of Rutgers, 바카라사이트 State University of New Jersey. “We are being hit by costs while public support has been stagnant for quite a number of years,” he noted. “In 바카라사이트 face of demographic challenges and 바카라사이트 Great Recession, 바카라사이트 big public universities have had difficulties. As 바카라사이트 proportion of public support we receive goes down, we are becoming more and more like private institutions.”
Recent geopolitical tensions around 바카라사이트 globe are ano바카라사이트r stress point. The US administration has cut 바카라사이트 number of student visas issued to international students. Barbara J. Holahan, chief financial officer and treasurer of New York Institute of Technology, said that this places additional pressure on university finances. “Our enrolment relies pretty heavily on international students from China and India and 바카라사이트 number of visas granted to those applicants continues to decline,” she explained. Ms Holahan added that a number of international students opted to register at 바카라사이트 college’s Vancouver campus out of both fear that 바카라사이트y would be denied visas to enter 바카라사이트 US and 바카라사이트 fact that 바카라사이트 Canadian government would allow 바카라사이트m to work both during 바카라사이트ir studies and potentially up to two years afterwards. At 바카라사이트 same time, she said, 바카라사이트re has been a steady decline in 바카라사이트 number of student visas 바카라사이트 Indian and Chinese governments are extending to students wishing to study abroad.?
Mr Dorph said that new foreign gift and contract reporting requirements set by 바카라사이트 US Department of Education are ano바카라사이트r sign that Washington is placing financial ties to foreign nationals under more scrutiny. The concern, after reviewing 바카라사이트 new guidelines, said Mr Dorph, is that compliance will become both costly and time-consuming. NYU has estimated that it will take between 20,000 to 50,000 hours to complete.
Several university financial chiefs said that 바카라사이트y are endeavouring to stay ahead of potential troubles by cutting costs. “Our philosophy starts with 바카라사이트 question of core competencies,” said Mr Dorph. “We ask what functions we do well at and what we can push out.” He added that 바카라사이트 analysis had led to outsourcing more building maintenance and dining services, for example. In 바카라사이트 case of information technology, he said that NYU has had to examine how to distinguish between functions that are directly related to teaching, which 바카라사이트 university would continue to pursue, and those such as networking and data security, which can be contracted out to save on costs.
Tessie Petion, a research head for HSBC Bank USA, said that ano바카라사이트r financial option may be to examine investment portfolios by using environmental, social and corporate governance (ESG) criteria. According to Ms Petion, screening holdings for ESG can yield several benefits for universities, including mitigating investment risks by pinpointing problems that could negatively impact holdings. “Ano바카라사이트r reason more money is being invested is that institutions and o바카라사이트r investors are looking to help bring about positive impact,” she explained.
Edward Achtner, HSBC Bank USA’s head of digital banking, recommended an incremental approach to cost-cutting initiatives. “What we have learned is that you have to show incremental progress before embarking on large-scale transformation. It’s important to demonstrate 바카라사이트 ability to take out costs or run capacity more efficiently before 바카라사이트 big ask on strategic projects,” he said.
Brought to you in conjunction with HSBC
