5 ways to begin reforecasting for post-COVID financial success

KERMIT S. RANDA, eCampus News

Reforecasting involves reassessing the budget at regular intervals — typically, one to four times a year — and making changes to the budget based on current trends and activity. But frequent reforecasting has been slow to take off in many college and universities — one in five institutions with long budgeting cycles do not reforecast at all. But resistance to reforecasting can hamper data-based decision-making as financial conditions change. It’s a scenario that holds true during the pandemic and in a less volatile economy.


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