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Business & Finance. Accounting Controller’s Office Grants Accounting Student Accounts/Loans Budget Financial Analysis Payroll Human Resources Student Employment Investments Internal & External Audit. Facilities Construction Management Union Security Parking Mail & Copier Services

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b f division
Accounting

Controller’s Office

Grants Accounting

Student Accounts/Loans

Budget

Financial Analysis

Payroll

Human Resources

Student Employment

Investments

Internal & External Audit

Facilities

Construction Management

Union

Security

Parking

Mail & Copier Services

Real Estate

Dining Services

Bookstore

Debt Management

Risk Management

B&F Division
mission vision
Mission & Vision
  • B&F Mission: To support the exceptional learning/living environment envisioned in the Drake University mission statement through stewardship of all University resources and extraordinary service to students, employees, donors and the broader Drake community.
  • B&F Vision: Each B&F unit will be “best in class”, operating with the highest standards of integrity, transparency and professionalism.
key goals of b f
Key Goals of B&F
  • Enhance long-term financial health of Drake
  • Ensure resource allocation aligned with strategic priorities
  • Provide competitive and safe environment
  • Facilitate and monitor competitive compensation package
  • Mitigate institutional risk and preserve University assets
environmental trends
Environmental Trends
  • Unpredictable financial markets
  • Accessibility and affordability
  • Rising consumer expectations
  • Transparency & accountability
  • Governmental, regulatory & legal risks
  • Changing workforce
  • Sustainability
  • Neighborhood resurgence
financial stability initiatives
Financial Stability Initiatives
  • Reduce endowment spending from 5% to 4.5% by FY09
  • Reinvest 50% of operating surplus into quasi-endowment to build future “reserves”
  • Achieve AA private rating from Moody’s
  • Create an integrated 3-year strategic budget, incorporating
    • 3 year salary plan
    • 3 year unit-level strategic budgets
    • 3 year capital budget, endowment model & debt plan
access initiatives
Access Initiatives
  • Consider reducing freshmen merit aid & reallocating to need-based aid
  • Consider commitment to meet a minimum % of need for each student
  • Consider maximum on UG student debt with need-based grant aid guarantee
affordability initiatives
Affordability Initiatives
  • Retain “Best Buy” status:
    • Reduce duplication to lower operating costs
      • Consolidate/Centralize key administrative functions
    • Continue to keep tuition increases below HEPI
    • Reallocate funding to higher priorities
    • Demonstrate “value”
customer service initiatives
Customer Service Initiatives
  • 24-7 Service via enhanced web services
    • Help Directory (alphabetical by “service”)
    • Other: FAQ; on-line payments; direct deposit; transcript orders; student employment applications; campus cards
  • Continuous facilities & grounds enhancements
    • 1st priority: student living & learning environments
    • Campus Master Plan plus deferred maintenance
    • Multi-year capital budget – communicate plans
  • “Best in Class” for each B&F unit
    • Research & adopt best practices
    • “Fresh Eyes” Project – visit the “best”
transparency initiatives
Transparency Initiatives
  • Expand Web Postings:
    • Key financial indicators and annual results
    • Audited financial statements (done)
    • Tuition rationale
    • Historical cost savings initiatives
    • Budget results
    • Capital plans
    • Modified SOX; ethics code
    • HLC & DOE financial ratios
    • Key vendors—corporate philosophy
accountability initiatives
Accountability Initiatives
  • Apply for The Malcolm Baldridge National Quality Award
    • Next step after accreditation
    • Public demonstration of excellence & accountability
    • Presented by the President of the US
    • Must demonstrate continued positive results in:
      • student learning outcomes
      • student & stakeholder satisfaction
      • financial outcomes
      • human resources
      • social responsibility
      • organizational effectiveness
risk management initiatives
Risk Management Initiatives
  • Improve risk management via broader campus education
  • Expand written policies & procedures
  • Centralize key functions for better control of high-risk areas
  • Extend internal audit beyond the numbers
  • Enhance security, e.g. electronic security & keyless entry
workforce initiatives
Workforce Initiatives
  • Create leadership development program for faculty & staff
    • collaboration of HR & CPS; mentors; job shadowing
  • Use creative employment models
    • pooled services; student employees; retiree transitions
  • Position Drake as “employer of choice”
    • work/life support; research funding; competitive compensation; hiring bonuses
sustainability initiatives
Sustainability Initiatives
  • Use LEED principles
  • Reduce energy consumption
  • Use “green” chemicals
  • Go paperless
  • Recycle & Reuse
  • Use locally-grown food in Dining Operations
  • Reduce e-waste
  • Incent alternatives to vehicles/parking
neighborhood initiatives
Neighborhood Initiatives
  • Assist developers in identifying student-friendly businesses
  • Support business growth with expanded parking, signage & security
  • Continue Drake Real Estate’s improvement plan
  • Create “The Eero Saarinen Project at Drake”
    • A collaborative venture with B&F, art department & state architectural association to provide educational sessions & tour of campus architecture
b f role in drake s future
B&F Role in Drake’s Future
  • Continue B&F mission: support, stewardship and service
  • Pursue B&F vision: each unit “Best in Class”
  • Assist Drake to become the national model for excellence, effectiveness, innovation, accessibility and accountability in higher education