Figures, tables, and exhibits -- Preface -- About the authors -- The fiscal context and the role of the budget manager -- Primary elements of the budget: revenue and expenses -- Understanding budgets -- Management of the budget cycle -- Understanding auxiliary and capital budgets -- Problems and pitfalls in budget management -- Managing budget fluctuations -- Glossary of terms -- Index. In today's challenging economic climate, college and university administrators need reliable financial advice for helping their institutions thrive. Thoroughly revised and updated, this book is designed to help new administrators understand and become more proficient in their financial management role within the institution. The authors suggest ways of avoiding common pitfalls and address what to do when faced with budget fluctuations and changing fiscal environments. Written so that the book's guidance can be put to immediate use, it is grounded in the latest knowledge and filled with illustrative examples from across all types of institutions, and also includes reflection questions. This is a resource for courses in graduate programs in higher education leadership and administration.