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Deans’ Retreat. July 2, 2013 Chucalissa Museum. Current Situation. Four False Assumptions. Demand is inelastic. There will always be more revenue out there. If you build it, they will come. The value of a post-secondary credential is a given. Source: The Other Higher-Ed Bubble
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Deans’ Retreat July 2, 2013 Chucalissa Museum
Four False Assumptions • Demand is inelastic. • There will always be more revenue out there. • If you build it, they will come. • The value of a post-secondary credential is a given. Source: The Other Higher-Ed Bubble Academic Impressions, June 2013
Marketplace Pushback • Average tuition is now approximately 37.7% of a median family’s earnings (Bain Capital). • In the 2011-2012 academic year, US families spent, on average, 5% less on higher education than the year prior (Sallie May annual study, “How America Pays for College 2012”). Source: The Other Higher-Ed Bubble Academic Impressions, June 2013
Marketplace Pushback con’t • While overall giving to institutions was up 8% in 2011, a disproportionate amount of the money raised by institutions ($30.30 billion in 2011) went to the top 20 institutions. The bottom 75% actually saw giving fall 9.6%. (Voluntary State of Education annual report). • NSF research funding has declined for the last two years and potentially faces an additional 8.3% cut in sequestration (Moody’s 2013 US Higher Education Outlook). Source: The Other Higher-Ed Bubble Academic Impressions, June 2013
Let’s Get Honest • Recognize the external realities—demographics, regulation, state funding, technology—and then use these data to inform their strategic plans. • Focus on those factors that the institution can control—such as faculty teaching loads; which programs to invest in and which ones to eliminate or restructure; and the efficiency of administrative services. Source: The Other Higher-Ed Bubble Academic Impressions, June 2013
Things to Consider • Can an institution be responsive to market demand and still steadfastly pursue its mission? • Can an institution be service-oriented without compromising its academic integrity? • Can an institution prize and prioritize quality while still managing costs in a sustainable way? • Can an institution have a strong liberal core and still produce students with vocational outcomes? Source: The Other Higher-Ed Bubble Academic Impressions, June 2013
Graduate Assistants • Waiver growth from 6M to 12M • Stipend allocations: doctoral vs. master’s • Additional assignments
Only E & G Funding Includes only Funds 11XXXX
Rationale for Changes in Academic Affairs Staffing • Retain our competitiveness & hold tuition flat • Reconfiguration is secondary to a loss of $40 million in base funding • Effective & Efficient – a base loss of funding dictates reconfiguration
Staffing Changes • See handout
Internships • Moved to University College Applied & Experiential Learning (Co-op program)
Research Investments: Staffing Present Proposed Draft Vice Provost Animal Care Facility Environ. Health & Safety Microscopy Center Research Development Add 1 more development position Research Administration Add 5 Research Administrators Add 2 Sponsored Programs positions Research Compliance Officer Contracts Office HPC Administrator • Vice Provost • Animal Care Facility • Environ. Health & Safety • Microscopy Center • Research Development • Research Administration
Proposed Research Investments: • Implement Enterprise Electronic Grants Management Tool • Research Development Institute • Graduate Assistants for HPC & Statistical Services • Equipment Upgrade/Replacement Fund • Bridge Support Fund • Editing Support
Tying Outcomes to Performance • OIR funding formula dashboard • http://www.memphis.edu/oir/ • Program reviews • Fall 2013 • CAS (Humanities) • CCFA • Law • Engineering • University College • Complete 3-year rotation in your packet
Faculty Issues • Offer letters—new template for tenure track hires • Institutional base salary • Low success-courses are bad for graduation rates. Think about that at evaluation time!
Space • Space is expensive! • We need to capture as much as possible for academic uses, including research, which increases our state funding. • Space planning is conducting a campus-wide space audit to accurately document our space usage. Please play nicely!
Planning for Success • One key to institutional success is the integration of operational planning—resource allocation—assessment with each other and with strategic and infrastructure planning • Processes are on-going, iterative, and interrelated Source: Academic Impressions Larry Goldstein
Infrastructure Planning • Fills the gaps between strategic plans and operational planning for areas not addressed in strategic plan • Programmatic infrastructural plans • Academic plan • Student engagement plan • Learning resources plan • Auxiliary enterprise plan • Athletics plan Source: Academic Impressions, Larry Goldstein
Infrastructure Planning • Support infrastructural plans • Enrollment management plan • Institutional advancement plan • Facilities plan • Information technology plan • Administrative plan Source: Academic Impressions Larry Goldstein
Planning Premises • Planning is the hardest part—When it’s done well, resource allocation and assessment become relatively easier • Effective planning identifies what’s important and what’s not • All resource allocation should support what’s important • Similarly, assessment should focus on what’s important Source: Academic Impressions, Larry Goldstein
What Really Matters? • Resources • Dollars • Positions • Space • Technology • Operational planning, resource allocation, and assessment must address all four Source: Academic Impressions Larry Goldstein
Overall Objectives • Achieve vision while honoring values • Overall improvement while accomplishing specific goals • Maintain financial equilibrium • Balanced budget • Develop and nourish human capital • Preserve physical assets and technology infrastructure • Protect endowment purchasing power Source: Academic Impressions Larry Goldstein
Effective Resource Allocation • Implements plans • Responds to assessment data • Combines top-down guidance informed by bottom-up knowledge/realities • Uses measures consistently Source: Academic Impressions Larry Goldstein
Ideal Approach • Driven by plans • Integrates resource allocation with operational planning and assessment • Emphasizes accountability versus control • All-funds budgeting • Unrestricted • Restricted Source: Academic Impressions Larry Goldstein
Contingencies • Recognize that projections will not be 100% accurate • Establish a contingency to address revenue shortfalls, expense overruns, opportunities, other budgetary impacts --If contingencies don’t materialize, consider special year-end allocations linked to plan or additions to reserves Source: Academic Impressions Larry Goldstein
Budget Contraction • No across-the-board reductions! • Focus on plan(s) and priorities • Selectively use reserves • Resist temptation to increase deferred maintenance • Less important programs take relatively larger cuts to protect priority programs • Avoid cost-shifting within the institution Source: Academic Impressions Larry Goldstein