Financial Vitality

 
CORE STRATEGY I  
 

To manage its resources strategically and responsibly, the college will assess and communicate its financial health. The college will use tools and processes to assist the college's leaders in guiding, managing, and leading those efforts that positively impact the college, and develop and implement a strategic operational and capital budget.

Core Strategy Team: Alyson Gill, Jon Kokos*, Kevin Phillips*, Edward Roberts (*Co-leaders)

Priority Initiatives

  1. Develop, implement, and communicate a strategic budget and process that aligns with Core Strategies and Priority Initiatives, with capital budget aligned with Core Strategies and fundraising aligned with Priority Initiatives.


  2. Grow enrollment to at least 1,000 students on the Main Campus and Extended Campus and Online Learning/Graduate Programs to at least 300 students, aiming to balance main campus and online enrollments to stay true to mission.


  3. Conduct meaningful program review across all academic, athletic, and student affairs programs, and conduct cost/benefit and operations analyses across all units of the college relative to the Core Strategies.


  4. Set Extended Campus and Online Learning and Graduate Education on a focused and excellent pathway forward with distinctive programs, enrollment targets, a scalable plan for growth, and a timeline for achieving benchmark targets.


  5. Develop and implement a comprehensive Institutional Advancement best practices model that focuses on Core Strategies and Priority Initiatives.
    • Grow endowment to $75M by 2030.
    • Grow annual giving to $5M by 2030.
    • Increase alumni giving to 15% by 2030.
Financial Vitality KPI

Central to the success of the strategic plan is regular and recursive assessment and evaluation of the Priority Initiatives and their contributions to the Core Strategies. To ensure accountability and optimization, each Priority Initiative will be measured against Key Performance Indicators (KPI) and analyzed for progress towards defined targets. 

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    Financial Metrics

    • Composite Financial Index (CFI) – all variables as well as aggregate index
    • Total Operating Expenditures per FTE Student
    • Percent Expenditures Instruction per FTE Student
    • Net tuition revenue/per FTE student
    • Total additional revenue
    • Total debt (debt/operating percent)
    • Total contingency budget
    • Tuition costs
    • Room and Board costs
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    Enrollment Metrics

    • Number of applicants
    • Number of accepted students
    • Percent Yield (Accepted/Applicants)
    • Number deposited
    • Number enrolled after census
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    Facilities Metrics

    • Average age of buildings
    • Classroom utilization rate
    • Residence Hall utilization
    • Percent students living in campus housing
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    Advancement Metrics

    • Alumni outreach
    • Percent alumni giving
    • Total grant money
    • Total endowment
    • Total annual fund giving