Since it was first published in 1980, the Strategic Financial Analysis for Higher Education (nee: Ratio Analysis in Higher Education) series has been acknowledged by leaders in the higher education industry as important financial publications and used extensively by trustees, senior managers, financial analysts, and credit analysts.

This seventh edition in the series, Identifying, Measuring & Reporting Financial Risks, reflects our observations that a paradigm shift has occurred regarding financial management of higher education institutions. It also reflects our conclusion that historical methods of monitoring institutional financial health, mitigating risks, and reporting on those risks need updating. Since we published the sixth edition in 2005, there have been dramatic changes in the economy and financial markets. The scrutiny of boards and senior management has significantly increased, and we expect this higher level of accountability will not abate in the future.

In response to these changes, there has been increased focus on risks affecting business enterprises, including higher education institutions. College and university governing boards are examining core governance and management practices.