Thursday, June 12, 2014
Nothing new - just a couple older entries worth looking back on
http://bubravesblogger.blogspot.com/2010/02/winning-just-comparison-with-other.html
http://bubravesblogger.blogspot.com/2012/02/catching-up-with-ken-kavanagh_07.html
Wednesday, June 4, 2014
Text of e mail release regarding BU finances
Dear members of the campus community,
In today’s higher education environment, most public and private universities across the country have encountered challenges in student enrollment and institutional finances. Demographic changes in the number of potential students, dramatic reductions in federal and state assistance for higher education and rising costs for university operations are primary contributors to these challenges.
A few weeks ago we reported 970 freshmen deposits for our Fall 2014 enrollment, which is less than had been forecasted and anticipated. The class, however, is academically strong and there was no compromising of quality. Because of this smaller than anticipated class, we have assessed the related financial consequences for the University, met with our Board of Trustees, and developed an action plan to guide us for the 2014-15 academic year and beyond.
The size of this class presents a more than $2 million negative financial effect on our operating margins, requiring that we adjust our expenses to present a balanced budget to the Board of Trustees at their July meeting. Furthermore, we realize that to provide opportunities for campus investment in our programs, faculty and staff, and to provide sustainable positive operating margins, we need to make a strategic reduction in our cost structure approaching 5% (an amount exceeding $5 million). In addition, our auxiliary operations (dining, housing and intercollegiate athletics) will reduce expenses by an additional $1.8 million to help ensure their collective self-sufficiency. The 5% strategic reductions coupled with the $1.8 million auxiliary operating changes will be implemented this summer to provide a balanced 2014-15 budget. Unfortunately, we believe that our anticipated 2014-15 enrollment (which is similar to two of the last three years) represents a new enrollment baseline; a smaller baseline creating declines in revenue that future increases in tuition will not fully offset. Our planning incorporates these assumptions.
However, there is more to do than reduce costs, as the market and demographic trends are telling us higher education is at a “tipping point.” These financial changes are required, but there are also essential operating issues to address in three broad areas-- a) finances, b) programs, and c) student enrollment to help ensure our excellent education and outcomes are relevant in a rapidly changing higher education environment.
I have established three Presidential advisory groups who will report to me. Each will be commissioned with specific responsibilities, act with urgency, and advise me with a long term view as follows:
Finances and budget group:
Our campus revenues are relied upon to support our many needs and initiatives, and I have confirmed the involvement of Paul Wayvon (Accounting faculty and Chair of the University Resources Committee), Dean Darrell Radson and Gary Anna to help confirm our budgeting procedures, fiscal structures, and financial processes are transparent examples of best practices. In addition, I have charged this advisory group to assess our faculty salary structures in order to align resources in a way that eventually responds to the marketplace disparities we know exist.
Program review and delivery group:
Some of our campus programs are in need of a financial viability review. Additionally, opportunities exist for diversifying our strategies for academic program delivery—including leveraging technology based learning to greatly expand our reach in graduate programs, summer curriculum and other academic opportunities. Assessments that have already been performed will be further refined, and during the summer Dean Lex Akers, Dr. Kurt Field, and colleagues will construct the criterial components and a process for program review. This undertaking will allow the University Senate Strategic Planning Committee to convene immediately in Fall, 2014, to review the work completed, and to further assess campus programs through our system of shared governance. The Provost will be significantly involved with this endeavor.
Enrollment management, branding and marketing group:
Bradley’s viability has always revolved around our students and their interests, qualities, characteristics and ultimately as successful graduates and engaged alumni. This advisory group of Paul Schroeder, Susan Andrews, Dean Jeffrey Huberman and Dr. Justin Ball will continue to aggressively examine the multiple interrelated factors that impact student recruitment and our branding and marketing position. Demographics clearly indicate our past is not our future and the status quo is not acceptable. The marketplace for student recruiting in our region and beyond is the most competitive it has ever been and is likely to only increase. Our enrollment management professionals will lead this activity with meaningful campus involvement.
Each of these advisory groups has authority to involve members of the campus community as needed, to provide inquisitive perspectives and responsible insights that will assist me in fulfilling my responsibilities as President. I have received the encouragement and support of Bradley’s Board of Trustees for these activities, and I will provide monthly progress reports to the Board.
While this will not be an easy undertaking, I am compelled to ensure we have an engaged campus that understands the urgency and importance of our assessments and resulting actions. The activities of the advisory groups are to begin immediately with expectation that measurable outcomes and corrective measures will begin to occur during the summer and completed in the upcoming academic year. The opportunities we now face, and the changes we prepare to implement, can position Bradley to be ultimately successful and sustainable in the years ahead.
I have the utmost confidence that our University is comprised of knowledgeable, caring and committed people who will help us continue Bradley’s legacy and provide for a reimagined future.
Warm regards,
Joanne Glasser
President
In today’s higher education environment, most public and private universities across the country have encountered challenges in student enrollment and institutional finances. Demographic changes in the number of potential students, dramatic reductions in federal and state assistance for higher education and rising costs for university operations are primary contributors to these challenges.
A few weeks ago we reported 970 freshmen deposits for our Fall 2014 enrollment, which is less than had been forecasted and anticipated. The class, however, is academically strong and there was no compromising of quality. Because of this smaller than anticipated class, we have assessed the related financial consequences for the University, met with our Board of Trustees, and developed an action plan to guide us for the 2014-15 academic year and beyond.
The size of this class presents a more than $2 million negative financial effect on our operating margins, requiring that we adjust our expenses to present a balanced budget to the Board of Trustees at their July meeting. Furthermore, we realize that to provide opportunities for campus investment in our programs, faculty and staff, and to provide sustainable positive operating margins, we need to make a strategic reduction in our cost structure approaching 5% (an amount exceeding $5 million). In addition, our auxiliary operations (dining, housing and intercollegiate athletics) will reduce expenses by an additional $1.8 million to help ensure their collective self-sufficiency. The 5% strategic reductions coupled with the $1.8 million auxiliary operating changes will be implemented this summer to provide a balanced 2014-15 budget. Unfortunately, we believe that our anticipated 2014-15 enrollment (which is similar to two of the last three years) represents a new enrollment baseline; a smaller baseline creating declines in revenue that future increases in tuition will not fully offset. Our planning incorporates these assumptions.
However, there is more to do than reduce costs, as the market and demographic trends are telling us higher education is at a “tipping point.” These financial changes are required, but there are also essential operating issues to address in three broad areas-- a) finances, b) programs, and c) student enrollment to help ensure our excellent education and outcomes are relevant in a rapidly changing higher education environment.
I have established three Presidential advisory groups who will report to me. Each will be commissioned with specific responsibilities, act with urgency, and advise me with a long term view as follows:
Finances and budget group:
Our campus revenues are relied upon to support our many needs and initiatives, and I have confirmed the involvement of Paul Wayvon (Accounting faculty and Chair of the University Resources Committee), Dean Darrell Radson and Gary Anna to help confirm our budgeting procedures, fiscal structures, and financial processes are transparent examples of best practices. In addition, I have charged this advisory group to assess our faculty salary structures in order to align resources in a way that eventually responds to the marketplace disparities we know exist.
Program review and delivery group:
Some of our campus programs are in need of a financial viability review. Additionally, opportunities exist for diversifying our strategies for academic program delivery—including leveraging technology based learning to greatly expand our reach in graduate programs, summer curriculum and other academic opportunities. Assessments that have already been performed will be further refined, and during the summer Dean Lex Akers, Dr. Kurt Field, and colleagues will construct the criterial components and a process for program review. This undertaking will allow the University Senate Strategic Planning Committee to convene immediately in Fall, 2014, to review the work completed, and to further assess campus programs through our system of shared governance. The Provost will be significantly involved with this endeavor.
Enrollment management, branding and marketing group:
Bradley’s viability has always revolved around our students and their interests, qualities, characteristics and ultimately as successful graduates and engaged alumni. This advisory group of Paul Schroeder, Susan Andrews, Dean Jeffrey Huberman and Dr. Justin Ball will continue to aggressively examine the multiple interrelated factors that impact student recruitment and our branding and marketing position. Demographics clearly indicate our past is not our future and the status quo is not acceptable. The marketplace for student recruiting in our region and beyond is the most competitive it has ever been and is likely to only increase. Our enrollment management professionals will lead this activity with meaningful campus involvement.
Each of these advisory groups has authority to involve members of the campus community as needed, to provide inquisitive perspectives and responsible insights that will assist me in fulfilling my responsibilities as President. I have received the encouragement and support of Bradley’s Board of Trustees for these activities, and I will provide monthly progress reports to the Board.
While this will not be an easy undertaking, I am compelled to ensure we have an engaged campus that understands the urgency and importance of our assessments and resulting actions. The activities of the advisory groups are to begin immediately with expectation that measurable outcomes and corrective measures will begin to occur during the summer and completed in the upcoming academic year. The opportunities we now face, and the changes we prepare to implement, can position Bradley to be ultimately successful and sustainable in the years ahead.
I have the utmost confidence that our University is comprised of knowledgeable, caring and committed people who will help us continue Bradley’s legacy and provide for a reimagined future.
Warm regards,
Joanne Glasser
President
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