In Section 3, we developing budgets for higher education institutions, boards can match their resources to their objectives. A budget gathers all of the institution's revenue and expenditures into one place, giving the board a complete picture of income and spending. A budget reveals an organization's goals and constraints. Furthermore, budgeting allows boards to fairly allocate funds for expenses and compute overhead.

Key concepts include:

• Higher education budgeting models 

• Allocating expenses and revenues. 

• Recognize the goals of building a Budget Model 

• Define and classify the key elements of the Budget Model, including gaining proficiency in categorization & decentralize decision-making 

• Capable of building a Hybrid Budget Model

• Smith, Dean O. (2019). “University Finances: Accounting and Budgeting Principles for Higher Education.” John Hopkins University Press, Baltimore.

• A Comprehensive Guide to Higher Education Budgeting Models 

• Northeastern University’s Hybrid Budget Model 

• Mission of Budget office in Indiana 

• ACTIVITY-BASED BUDGETING IN HIGHER EDUCATION 

• Budgeting in Higher Education - Annetta M. Gibson, Andrews University