Your SlideShare is downloading. ×
AIKCU Annual Report to Ky Council on Postsecondary Education
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

AIKCU Annual Report to Ky Council on Postsecondary Education

937
views

Published on

The Association of Independent Kentucky Colleges and Universities is required by statute to make an annual report to the Council on Postsecondary Education. This presentation was delivered by AIKCU …

The Association of Independent Kentucky Colleges and Universities is required by statute to make an annual report to the Council on Postsecondary Education. This presentation was delivered by AIKCU President Gary S. Cox, along with AIKCU Board Chair John Roush (Centre College President) and Vice Chair Bill Huston (St. Catharine College President) at the 9/10/09 CPE meeting in Bowling Green Kentucky.

Published in: Education, Sports

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
937
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Kentucky’s Independent Colleges and Universities The Association of Independent Kentucky Colleges and Universities Gary S. Cox, Ph.D President (502) 695-5007 gary@mail.aikcu.org http://aikcu.org
  • 2. Annual Economic Impact of Kentucky’s Independent Colleges and Universities = more than $1.48 billion Total economic impact (in millions), by spending category Direct Indirect 800 700 600 500 400 300 200 100 0 Institutional Expenditures Capital Expenditures Source: Private Colleges, Public Benefits: The Economic and Community Impact of Kentucky’s Independent Colleges and Universities on the Commonwealth of Kentucky. Human Capital Research Corporation, 2006. http://www.aikcu.org/wp-content/uploads/2007/08/Private %20Colleges,%20Public%20Benefits%20-%20AIKCU%2011-1-06.pdf
  • 3. Kentucky’s investment in AIKCU students is less than 4% of total state postsecondary spending AIKCU student aid: $52.3 million (AIKCU KTG: $28 million, or 2.2%) 3.9% Non-AIKCU student aid: 9.4% $127.5 million Other postsecondary spending: $1.17 billion 86.7% Sources: 2007-08 postsecondary budget data - CPE 2007-08 KY Student aid lottery funded program (CAP, KTG, KEES) data - KHEAA
  • 4. Average 2008-09 Independent College Published Tuition and Fees (Note: very few students at independent colleges actually pay this “sticker price” after financial aid is factored in.) $30,000 $25,000 $25,143 $21,773 $20,000 $17,256 $15,000 $10,000 $5,000 $0 Kentucky South National Source: AIKCU 2008 Tuition Survey; College Board’s Trends In College Pricing 2008
  • 5. State financial aid to independent college students, 1998-2008 State financial aid to AIKCU students through Kentucky’s “big three” aid programs (CAP, KTG, and KEES) totaled $52.3 million in 2007-08, up from $11.9 million in 1997-98. $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 KTG CAP KEES Source: KHEAA
  • 6. Average Kentucky independent college costs and financial aid awards by source, 2006-07 AIKCU Average total 2006-07 costs = $21,285 (Average tuition = $15,245; Estimated average room/board = $6,040) $25,000 $20,000 $6,217 $15,000 $3,503 $10,000 $3,868 $5,000 $7,697 $0 Avg. Institutional aid Avg. State aid Avg. Federal aid Avg. Student share Sources: Aid Data: Integrated Postsecondary Education Data System (IPEDS), 2006-07. First-time, full-time student cohort; Tuition: AIKCU 2006-07 Tuition/Fees Survey; Room/board: IPEDS, 7 campuses reporting an average of $6040.
  • 7. Average Debt of Graduates, 2007 $17,000 $12,750 $8,500 $16,663 $16,963 $4,250 $0 AIKCU Public Universities Source: ProjectOnStudentDebt.org. Debt data as reported by campuses to Peterson’s Undergraduate Financial Aid and Undergraduate Databases. 17 of 20 AIKCU campuses and 7 of 8 Kentucky public university campuses reporting data.
  • 8. Independent colleges promote timely graduation Percent of first-time, full-time students who graduate in... 50 40 30 20 10 0 4 years 5 years 6 years AIKCU KY Public Universities Source: IPEDS, Fall 2000 GRS Revised Cohort of first-time, full-time bachelor’s degree seeking students
  • 9. AIKCU Total Headcount Fall Enrollment, 1999-2008 30,411 29,041 27,440 26,908 26,151 25,252 25,532 24,764 23,836 23,206 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Source: CPE Comprehensive Database
  • 10. AIKCU Bachelor’s Degrees, 2000-2008 4,200 4,191 3,902 3,881 3,779 3,801 3,575 3,555 3,453 3,150 3,271 2,100 1,050 0 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 AIKCU enrolls about 19% of KY’s bachelor’s degree seeking students and produces 22% of bachelor’s degrees. Source: CPE Comprehensive Database
  • 11. Growth in transfer from KCTCS to AIKCU 1,100 1,093 926 938 825 550 583 514 402 358 351 365 275 0 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 Source: CPE Comprehensive Database
  • 12. How are AIKCU members changing to deal with current economic realities?
  • 13. ASSOCIATION OF INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES REPRESENTATIVE COST SAVINGS ACTIVITIES • Combine 2 full-time office positions into one (Business Office and Registrar) September, 2009 • Allowed our discount rate to rise slightly. • Reduced faculty professional development funding and professional memberships • Waived admissions fees for adult programs. • Suspend TIAA CREF match • Tuition rates for summer classes reduced by 50 percent • Departmental operating budget reductions MANAGING PERSONNEL COSTS • Waived tuition for seats in classes that had not been filled for those recently unemployed • Renegotiated physical plant contract • Placement helped students in partners with “Let’s Go 2 Work.” The program provided • Installed water saving devices in residence halls 16-24 year olds, several in college family, with six-week summer jobs at local • Staff right sizing • Promoted more efficient utilization of utilities (lights, equipment, etc.) businesses and organizations using American Recovery and Reinvestment Act funds to • Faculty hiring deferrals • Reduced A/C and heating levels in buildings pay their salaries • Non-Faculty staff hiring postponements • Strategically utilized technology tools and programs to reduce postage costs • Lowest Tuition increase in 20 years • Salary Freezes • Re-negotiated contracts to effect savings in telecom services and hardware • Reduced paid faculty overloads maintenance ACADEMIC CREDIBILITY • Reduce utilization of adjunct faculty • Reduced printing costs by limited publications and/or size of pieces • Placed full time faculty members in overload (without additional compensation) to cut • Initiated student printing controls with charges for excessive pages printed on college • Maintain goal of low student/faculty ratio adjunct salary expense systems • Concentrating on student retention and graduate recruiting. • Employee Furloughs and Voluntary Salary Cuts • Networking printers in offices. • Tuition/room/board rates were frozen at 2008-2009 levels. • Reduce Fringe Benefits • Careful monitoring of accounts receivables • Three-hour courses offered free to unemployed adult learners. • Manage Effective Development and Marketing Strategies • Renegotiated student athletic insurance contract • Offering job fair and student placement services regularly in community • Delayed upgrading academic instructional technology and health sciences SHORT & LONG RANGE PLANNING Reduced credit card usage and carriers – only business office, President and We asked, and the list is long • Advancement • Postpone Capital Spending • Changed purchasing procedures – CFO to review each check request and • Regular financial update and suggestion sessions across campus, with students, with P.O./President to review purchases over $500. faculty, and with staff • Dining hall savings from eliminating trays (water) • Promoted efficient utilization of college health insurance benefits • Added a winter term in January (increased revenue) • Working smart by making more phone calls and less travel. • Mountain Outreach – Plans to build only 2 homes next summer. • Utilizing student labor as much as possible; this helps the students and helps to control • For Church Relations/Alumni/Media Relations/Student Services – No unbudgeted costs. expenditures • Work study done at the same place as presidential work. • Reducing and/or controlling expenditures in Business Services such as: purchased 4 • Maximized utilization of additional federal and state student scholarship funds (Yellow busses instead of 8 as originally budgeted Ribbon, etc.) • Refunded bonds saving about $700K in total over next 10 years. • Awarded over $10 million in scholarships for 2008-09 academic year, and over • Reworked physical plant staffing schedules by staggering shifts (reduced overtime $11,500,000 for 2009-10 saving approximately $100K per year) • Working with students to apply for loans • Signed contract with eCampus.com to sell textbooks, spirit items on-line • Maximize Student Financial Aid Opportunities. • Analysis of the Spirit Shop to increase sales, improve quality, launch internet sales • Consolidating scholarship offerings to award only academic and athletic scholarship • Change accounting system to improve communication and efficiency except for students in our service area who may be eligible for an additional scholarship • Planning for summer housing for next summer based on need • Working with agencies to do international recruiting therefore cutting out some • Semester of free tuition for unemployed workers international travel. • Gold incentive program for returning students, early registration and filing FAFSA • New endowment spending formula provides a more stable return to keep tuition • Yellow Ribbon program for veterans increases minimized • Multicultural Scholarship $1,500 a semester for full time students !" !" " !" "
  • 14. Questioning and evaluating everything... • Operations • Personnel and staffing • Administrative costs • Tuition and aid policies • Strategic plans
  • 15. You can count on me wearing you out with ideas and questions - some of them tough ones - about how we conduct our business. Centre College President John Roush in a recent address to faculty and staff
  • 16. ...except fundamental commitments to • supporting students • academic integrity • individual missions
  • 17. AIKCU: Building strength through collaboration • Business partnerships for cost containment and increased efficiencies: office supplies, insurance, information technology, fuel, many more • Resource and information sharing • Low cost professional development • Relationships with public institutions (KCTCS transfer, KYVL, MoSU-EKU-AIKCU project, etc.)
  • 18. Issues and opportunities: How can CPE work with AIKCU to maximize state resources, maintain quality and diversity, and further the Public Agenda? •Support student financial aid •Ensure quality •Recognize and value contributions of independent sector •Encourage innovative collaborations
  • 19. Questions? Gary S. Cox gary@mail.aikcu.org 502.695.5007 www.aikcu.org