Fiscal and Governance Practices

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Goal 2

Goal 2: Operate with sound and efficient fiscal and governance practices.

 “Excellence is never an accident: It is the result of high intentions, sincere effort, intelligent direction, skillful execution and the vision to see obstacles as opportunities.”
— Aristotle

Objective 2.1 Develop a culture of accountability and improvement through University-wide assessment.

Examples:

  • Provide fiscal transparency through consistent and clear reporting.
  • Improve the budget process:
  • Publicize the process of response, review, evaluation and implementation of suggestions made with the goal of increased participation.
  • Improve internal (campus) communication on spending.
  • Use dashboards to show the financial status of the University.
  • Increase spending on academics as a percent of the overall budget (educational resources/library services/labs).

Success Criteria / Expected Outcomes by 2020:

  • Establish a budget and forecasting committee.
  • Develop, implement and analyze the University’s financial dashboards.
  • Strengthen assessment processes in both academic and non-academic arenas.
Objective 2.2 Develop a Strategic Enrollment Management Plan.

 Examples:

  • Develop an enrollment management plan that includes recruitment, retention and new program development at both the graduate and undergraduate levels.
  • Develop and implement a degree completion plan.
  • Increase the number of non-traditional (working adult, transfer) students, while maintaining our accessibility for traditional age students.
  • Increase scholarships available for under-represented and low-income students.
  • Create and implement a program to increase alumni participation rate in recruiting and retaining students.
  • Create a comprehensive marketing plan for the University with input from campus constituencies.
    • Focus on brand awareness.
    • Leverage the University’s intellectual capital to build a reputation for thought leadership.
    • Strengthen positive community awareness of the University.

 Success Criteria / Expected Outcomes by 2020:

  • Develop, implement and analyze the success of the Strategic Enrollment Management Plan.
  • Implement the degree completion program (The Finish Line).
  • Develop, implement and analyze the strategic marketing plan.
  • Increase scholarships by 3% annually for all students, with an emphasis on under-represented and low-income students.
Objective 2.3 Develop and strengthen funding strategies.

 Examples:

  • Maintain a balanced budget annually.
  • Develop a robust non-credit offering to meet the region’s market and workforce needs.
  • Design and implement an effective fundraising program that includes the Annual Fund, planned giving and a capital campaign.
  • Develop and strengthen revenue streams (grants, conference services and camps, professional development, rentals, partnerships, other revenue streams).
  • Expand efforts to identify outside resources to help finance research, service and learning.
  • Select and meet statewide performance indicators for funding.
  • Identify and partner with world-class organizations to create opportunities for the region and the University community.

Success Criteria / Expected Outcomes by 2020:

  • Plan and implement a balanced budget annually.
  • Increase fundraising total by 2% annually.
  • Increase grant applications, sponsored programs and business partnerships by 2% annually.
  • Improve scoring on State System performance indicators from 7.25 to 9.0

Sections

IntroductionSummary and GoalsGoal 1Goal 2Goal 3Goal 4Goal 5Conclusion