- May 4, 2014
- Posted by: essay
- Category: Term paper writing
The costs of the higher education in the US are likely to grow in the future and the University has to come prepared to such rise of costs. In this regard, the Texas State University develops an effective compensation and pension plans which are attractive for employees and help the University to retain well-qualified professionals. In such a way, human resources become the major asset of the University and the Texas State University can use the full potential of its human resources to save costs through the introduction of innovations and optimization of internal business processes and educational process.
The treatment of federal grants such as Pell grants, supplemental grants, and work study on the revenue reported for the institution
In actuality, the Texas State University offers students ample opportunities to participate in federal grants, such as Pell grants, supplemental grants, and others. In this regard, the University developed the Bobcat Promise, which aim at facilitation of the provision of federal grants to students in need. To be eligible for the Bobcat Promise, students must: be an entering first-time freshman (transfer students are not eligible); be aÂ Texas resident; have a familyÂ adjusted gross income of $25,000 or less; be enrolled full-time and complete at leastÂ 15 credit hours each semester (fall and spring semesters); apply and be accepted for admission, as well as submit a completedÂ Free Application for Federal Student AidÂ (FAFSA), no later thanÂ March 31Â prior to the upcoming academic year (Bobcat Promise, 2012, 4).
In addition, the Texas State University offers students the American Opportunity Tax Credit “increased the tax credit from a maximum of $1,800 to $2,500 and now up to 40% of the credit is refundable. This means that tax-filers may receive up to $1,000 back by using the credit”Â (The American Recovery and Reinvestment Act, 2010, 2).Â In such a way, the University provides larger opportunities for students to enter the University, regardless of their low-income level.
The treatment of endowments, earnings on endowments, and restricted funds with GAASB requirements
At the same time, the University conducts transparent policy in relation to endowments, earnings on endowments and restricted funds in accordance to GAASB requirements. The University attempts to minimize the risk of corruption and conducts transparent financial policy. In such a way, the Texas State University reaches the high level of transparency, matches GAASB requirements and attracts students, who are confident in openness, transparency and reliability of the Texas State University. In this regard, GAASB requirements are very important because they prevent the use of endowments and earnings on endowments to conduct scheming with financial resources of the University. Therefore, the University funds are used efficiently.
Thus, the Texas State University conducts transparent and clear financial policy. On the one hand, the University attempts to retain the personnel offering attractive compensation and pension plans. On the other hand, the University eliminates financial barriers on the way of low-income students to the higher education offering them government grants and special financial aid programs.