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The Deficit Mindset. A condition in which a school takes a traditional, inward-looking approach to its budget, relying on raising tuition to cover shortfalls rather than pursuing meaningful cost reductions or alternative revenue streams. This philosophy stunts institutional growth because it fails to look beyond its own walls and embrace a more "abundance" oriented mindset.

Financial planning works best when it is shared across the Senior Leadership Team (SLT). When leaders understand how budgets are created,...