Goal 8. Financial Stability
Strengthen financial resources.
Critical Success Factors (measures of the degree of success over the next 5 years):
- $80M per year in cash and deferred gifts.
- $400M endowment.
- $10M Transfer Scholarship Fund.
- $10M First Generation Scholarship Fund.
- Increase cash gifts for discretionary purposes.
- Ranked in the top 30 for Annual Giving.
- 12-month budgeting cycle for all university operations.
Objectives:
Objective 8.1: Increase financial resources.
Strategies:
- Ensure leveraging of state research excellence funds resources.
- Improve leveraging of other state resources.
- Increase funding from external sources through partnerships, research grants, and licenses and patents.
- Leverage educational and research partnerships offered throughout the state to increase financial resources.
- Increase funding from corporate and other private donors.
- Assign responsibility for colleges' fundraising efforts to deans.
Assessment:
- Amount of resources allocated to support fundraising.
- Funds generated.
Objective 8.2: Increase fiscal stability
Strategies:
- Implement forecasting (prediction modeling) analyses in planning.
- Implement a twelve-month academic budgeting cycle.
Assessments:
- Long-term financial planning.
- 12-month budget cycle.