- Deferred maintenance is plaguing colleges and universities across the country, but there are key ways to set aside the necessary funds once institutions prioritize the range of maintenance projects on campus.
- Generating income from certain facilities like housing, open land, parking, and retail space creates a new revenue source that can be partially or entirely dedicated to maintenance and other building projects.
- Borrowing is another option, though less attractive than raising money from new donors or those whose funds are still uncommitted.
Centenary College of Louisiana has built maintenance costs directly into its budget by accounting for depreciation. This is another strategy colleges and universities can use to ensure money that should be set aside for building maintenance is. It's always easier to get donors to fund new buildings, but keeping up the existing infrastructure is critical, if less glamorous. Working the maintenance into the budget creates less strain in emergencies and helps ensure necessary projects get prompt attention.