The overall increase in the cost can be attributed to the steady rise in the tuition fees, reduction in the buying capacity of the allowance aids sanctioned for the students, shrinking financial plans for higher education of the states, augmenting liability loads for the students and increasing requirements for institutional responsibilities (Meek, Teichler & Kearney, 2009). It is in this context that the augmenting tuition expenses are turning out to be a grave concern, especially for the families with comparatively lesser earning which makes it impossible for them to meet up to the increasing costs. However, in some instances the considerable boosts in the monetary helps provided by the institutions as well as the governments have assisted in alleviating the price rises for few students. This problem needs immediate attention as it might involve grave effects by restricting the right of entry for would-be college scholars focusing on the students with little earnings (Meek, Teichler & Kearney, 2009). It is worth mentioning in this context that University of Central Florida is one of the well-renowned American Universities that aim to render its students with quality education. Hereby, the main objective of the paper will be to identify the governance policies as well as programs of the University of Central Florida and hence recognize how the governance of this university can assist in resolving the issues faced by it. The impact created by the external environment on the governance procedures and policy measures will also be identified in the discussion further. Governance Policies and Strategies in University of Central Florida The administration, the faculty as well as the staffs of the University of Central Florida (UCF) work in a collaborate manner so that it can offer its staffs with high quality programs, courses, teaching facilities as well as other developmental services to the community. The university’s governance procedures tend to clarify the duties as well as responsibilities of numerous parties such as the administration division, the staffs and the faculties. It is to be mentioned that the Nominating and Governance Committee is employed by the University Of Central Florida Board Of Trustees with the objective to suggest potential candidates suitable for designation as Trustee Emeritus and Honorary Doctor for deliberation by the full board. It further aims at persuading the members of the corporate governance “best practices” and thus makes suggestions to the Board and its committee members. The governance procedure further creates and suggests the Board with the number as well as structure of the committees. The chairperson of the board is responsible to elect and appoint the members of the committee. The committee is responsible to assess its performance on a continuous basis. The committee also intends to analyze the committee charter yearly and thus contemplate any needed changes with the board in order to ensure if the panel has approved or re-approved the charter or not (Board of Trustees, 2012). Furthermore, the university also intends to render the facilities of cost sharing in the context of higher education which means a transfer in the burden related to higher education costs from being borne by the governments i.e. taxpayers to being shared exclusively by parent and students. A shift in the burden of
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