Please use the attached financial statement of the “sample University “to answer the below using appropriate headings and APA formatting. Please answer the below questions in a narrative form in the abbreviated paragraph format. (I have also attached this assignment in a word document Part 2 of project doc)
Part 2: Assess the Financial Management Structure of an Institution of Higher Education
“Sample University” is moving from a centralized to a decentralized financial management system. What are the benefits and challenges of a decentralized system? How would a department’s financial operations be different under a decentralized system? Do you think it would allow for more effective financial management in your department and throughout the institution? Why?
How might the size and structure of the management system of a college or university, such as Sample University, impact the flow of information and communication across departments? How may they impact the processes of decision-making and the degree of accountability?
Describe two to three features in a college’s financial management system that would enable it to be efficient, flexible, responsive, accountable, and empowering to employees? Identify two to three problem areas such an institution would have to overcome.
(Part 2: Length: 2 pages)