Understanding Financial Exigency: What it Is, How it Works, and Why it Matters

Understanding Financial Exigency: What it Is, How it Works, and Why it Matters

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As colleges and universities navigate ongoing financial challenges, the concept of financial exigency has become increasingly relevant. But what exactly does it mean, and how can institutions determine if and when to declare it? More importantly, what are the risks of not declaring financial exigency when facing severe financial distress?

Join us for an informative webinar designed for higher education leaders, administrators, and financial officers seeking a clear understanding of financial exigency. We will explore:

  • The definition of financial exigency and its role in institutional financial management
  • The process of declaring financial exigency and key considerations for leadership
  • Financial and operational implications of a declaration


Presented By:

NACUBO Consulting

Recording

This webinar will be recorded. Registrants will receive an email when the recording is available.

Deanna McCormick

Vice President for Business & Finance (retired)

Simpson College

Deanna (Dee) McCormick served for 35 years as a chief business officer/CFO/COO at both large public institutions but predominately at small liberal colleges in rural areas. Her responsibilities included finance, investments, HR, IT, facilities management and development and auxiliary operations. She has also been a peer reviewer with the Higher Learning Commission for the past 17 years. Since retirement, she has been a consultant with NACUBO as well as operating a small financial consulting business assessing issues at institutions of higher education.

Ruth A. Johnston (Moderator)

Acting Vice President of Consulting

NACUBO

Ruth A. Johnston is the acting vice president of consulting for NACUBO and the founder and owner of RAJ Consulting, LLC. She most recently served as the system vice chancellor and chief operating officer at New Mexico State University (NMSU). Over her nearly four-year tenure, Johnston oversaw vital areas, including finance and business services, facilities and services, enterprise risk management and safety, human resource services, information and communication technologies, government and community relations, and marketing and communications. Prior to this, Johnston held the role of vice chancellor for planning and administration at the University of Washington (UW) Bothell. Notably, she led the development of a pioneering hybrid budget model based on responsibility-centered management principles. In 2008, she established UW's sustainability office and masterminded the development of UW's Climate Action Plan. Johnston's educational journey is marked by a doctorate in organizational development and higher education, a master's degree in human relations, and a bachelor's in counseling psychology/social sciences.

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Understanding Financial Exigency: What It Is, How It Works, and Why It Matters
05/08/2025 at 3:30 PM (EDT)  |  Recorded On: 05/08/2025  |  30 minutes
05/08/2025 at 3:30 PM (EDT)  |  Recorded On: 05/08/2025  |  30 minutes The Zoom room will open 15 minutes before the start time. To enter the room, click “Enter Webinar.”