EPISODE 13: THE IMPORTANCE OF OWNING THE FINANCES
In this episode of On The Yard, we learn how Allen University President Dr. Ernest McNealey is blazing a new pathway for Allen University through strong fiscal management.
A major challenge that many Historically Black Colleges and Universities face is a lack of adequate financing. This is why Dr. McNealey emphasizes the importance of presidents taking ownership of the financial affairs of their university and thinking strategically about money as a tool to enhance the institution's overall goals.
McNealey has an impressive background in higher education administration, having served as the president of both Stillman College and Allen University. At Allen, where he has served as president since 2017, he has not only improved the institution’s financial standing, but he has also leveraged Allen as a community resource by launching innovative online programs for undergraduate and graduate students.
While the top leadership role at colleges and universities is coveted, those who seek it require outstanding leadership skills. In Dr. McNealy’s eyes, one viable pathway to the president's office is through leading academic affairs. “I think its incumbent on all presidents to have their chief academic officers not only own a large share of the budget, but actually be able to manage it as well,” said Dr. McNealy. “I think it’s really important that, at our schools in particular, the management of finances be decentralized.”
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On the Yard explores the culture and leadership trends happening across Historically Black Colleges and Universities (HBCU) nationwide. The podcast dives into the unique issues faced by these historic and minority-serving institutions through a series of conversations with leaders and advocates.
