Board meetings should do more than review historical financial results or report on activities. They should help trustees understand the institution’s position, test assumptions, and engage in decisions that may shape its future. Before the next meeting, institutional leaders should be ready to answer the questions below, so they can drive strategic conversations among their trustees.
Where Does The Institution Really Stand Today?
Trustees need a clear view of institutional health—not disconnected metrics. Leaders should explain operating margin, cash, debt service, salaries and benefits, enrollment, discount rate, and net tuition revenue. They also should address donor dependency, executive turnover, accreditation concerns, and other operating signals. Enrollment growth and a clean audit do not tell the full story.
How Much Runway Does the Institution Have?
Historical statements show where the institution has been. Rolling 12-month cash-flow forecasts and multiyear projections show how much time leaders may have to act. Yet, on a recent webinar we hosted with Steptoe & Johnson, only 43% of poll respondents indicated they present forward-looking models at every quarterly board meeting; 11.1% of those polled never do. Leaders should know when pressure could become critical or how long their institutional resources could support continued growth and reinvestment.
What Happens if Assumptions Are Wrong?
Boards should see how enrollment changes, fundraising shortfalls, deferred maintenance, or unexpected capital needs could alter the plan. Scenario modeling can clarify what the institution could no longer afford, what could be delayed, and which opportunities might emerge if performance exceeds expectations.
Can We Explain the Situation Without Getting Lost in the Weeds?
In the webinar poll, 72.9% of respondents cited staying out of the weeds or relaying complex information as their biggest financial communication challenge. The priority is not to oversimplify, but to translate complexity into useful information that may drive decision making down the line. Board orientation and financial education can help trustees understand reports and challenge assumptions. Repetition of key concepts and information is highly encouraged.
How Can We Change the Trajectory?
Once trustees understand the position and runway, the conversation should move from “What is happening?” to “What can we do?” Options may include an organizational redesign, changing the academic portfolio, reviewing contracts, selling surplus property, or exploring collaborations, affiliations, and mergers. Many actions require approvals and negotiation. Runway preserves choices.
Are Strategic Partnership Options on the Table?
Partnership discussions do not need to begin in crisis. Leaders should consider whether shared programs or functions could strengthen the operating model, when structural options should be explored, and whether trustees understand the available paths. Earlier exploration provides more time to evaluate fit and implications.
What Do We Need From the Board?
Leadership should know what trustees need to understand, where they should challenge assumptions, which strategic question is before them, and what direction is needed. The goal is not to arrive with every answer, but to create a focused discussion that moves beyond the past and addresses what happens next. Ultimately, boards should discuss strategy at every board meeting.
How Forvis Mazars Can Help
Professionals from Forvis Mazars can help higher education leaders assess financial and operational indicators, strengthen forecasting and scenario planning, prepare board-ready reporting, and evaluate operational improvements or strategic partnership considerations. If you have questions or need assistance preparing for conversations with your board, please explore our Higher Education Consulting Services and contact us.