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

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 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.