This study analyzed the relationship between the finance in higher education
and that of lifelong education institute attached to its university, the characteristics of
a lifelong education institute as a system, elements and procedures of financial
operation in a lifelong education institute attached to its university, efficiency and
effectiveness as values for criteria of financial operation in a lifelong education institute
with special reference to the financial leadership of lifelong education institute, and,
based on the analysis, suggested a model of financial operation in it.
The study was basically conducted with various data: (1) the relevant
literatures, the governmental statistics and documents; (2) budget documents for
estimated and settled accounts from three lifelong education institutes attached to their
universities in Seoul, and (3) in-depth interviews with staffs who were in charge of
financial operation in their lifelong education institutes.
It was found that some leaders of lifelong education institutes in terms of
financial operation were not sensitive to the environment, internal and external, and
that the value of efficiency was prevalent as a main stream for the criteria of financial
operation. This implies that leaders of lifelong education institutes in higher education
should wisely meet with some challenges from internal and external environment,
especially in the matter of financial operation, and that both values of efficiency and
effectiveness have equal weights to consider as a trade-off in budgeting.