The impact coming from over-abundance of university institutions coupled with the low fertility is the thorniest issue for Taiwan university governance. Attendant to this, the relations between subject and subordinate, that is, between schools and students undergo a subtle change. Apart from the conventional pedagogy and researches, and the recruitment issue, university nowadays needs to provide students with satisfactory service quality so that on-the-go recruitment can become feasible. As said, how to make the quality service a workable project becomes an important indicator for university governance. This study surveyed a wide spectrum of literatures on the university governance essences and indicators, and invites 17 presidents from public and private university institutions using modified Delphi method (MDM) to establish suitable university management indicators. In addition, this study pinpoints the detail differences between public and private universities' tuition fees, differences between general university/technology university, and university locations. The results of the present study suggest that more efforts should be made in school-running attributes in the future, considering the importance of internal governance indicator; that is, university education needs to cover service management characteristic.