Definition or Description:

Skills in relating action to be taken (in the achievement of specific goals and objectives of an organization) to the allocation of resources required by those actions. This skill set requires an understnding of a variety of economic and monetary concepts including cash flow, direct and indirect costs, debt management, depreciation, etc.,the ability to read and understand financial reports, as well as the ability to interpret and respond appropriately to federal, state, and/or local regulations and policies affecting the expenditure of funds.

Comment:

Though faculty who assume managment roles or funded project responsibilities need to have skills in this area, there are few instances where these responsibilities would be subject to SoTL studies. These skills apply more to administrative and related roles ourtside the classroom.

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