The higher education sector is in a potentially precarious situation with possibly large fluctuations in demand (and hence funding) from one year to the next. Are universities resilient enough to withstand these fluctuations? HEFCE’s own forecasts of the financial health of the sector between 2013-14 and 2016-17 emphasises the need for strong liquidity – the number of days for which a university’s cash reserves would cover their expenditure. As a sector, liquidity has strengthened over the recent years of uncertainty, as the graph below shows, but the forecast is for this to fall and for borrowing to increase. As HEFCE points out, this is “an unsustainable trajectory”.
Features more than 70 black-and-white photographs.
Mack Friedman is an HIV testing and prevention supervisor for the Pittsburgh AIDS Task Force. Formerly a youth advocate for Women Hurt in Systems of Prostitution -Engaged in Revolt (WHISPER), and the former vice president of Youth Services of Pittsburgh, he currently serves on the boards of both the Southwestern Pennsylvania AIDS Planning Coalition and Standing Against Global Exploitation (SAGE). A native of Chicago and a 2001 graduate of the University of Minnesota, he currently lives in Pittsburgh, Pennsylvania.
 
The higher education sector is in a potentially precarious situation with possibly large fluctuations in demand (and hence funding) from one year to the next. Are universities resilient enough to withstand these fluctuations? HEFCE’s own forecasts of the financial health of the sector between 2013-14 and 2016-17 emphasises the need for strong liquidity – the number of days for which a university’s cash reserves would cover their expenditure. As a sector, liquidity has strengthened over the recent years of uncertainty, as the graph below shows, but the forecast is for this to fall and for borrowing to increase. As HEFCE points out, this is “an unsustainable trajectory”.Features more than 70 black-and-white photographs.Mack Friedman is an HIV testing and prevention supervisor for the Pittsburgh AIDS Task Force. Formerly a youth advocate for Women Hurt in Systems of Prostitution -Engaged in Revolt (WHISPER), and the former vice president of Youth Services of Pittsburgh, he currently serves on the boards of both the Southwestern Pennsylvania AIDS Planning Coalition and Standing Against Global Exploitation (SAGE). A native of Chicago and a 2001 graduate of the University of Minnesota, he currently lives in Pittsburgh, Pennsylvania.
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