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Board roles in meeting financial challenges

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Board roles in meeting financial challenges

  1. 1. FINANCIAL CHALLENGES: ARE WE IN THIS TOGETHER?<br />H. KENT WELDON ANNUAL CONFERENCE FOR HIGHER EDUCATION<br />APRIL 19, 2010<br />ELLEN CHAFFEE<br />ASSOCIATION OF GOVERNING BOARDS OF UNIVERSITIES AND COLLEGES<br />GOVERNANCE FOR STUDENT SUCCESS (AGB AND LUMINA FOUNDATION)<br />
  2. 2. Good times…??<br />More …<br />For Less!<br />
  3. 3. Requires Action on Many Fronts<br />T O U G H D E C I S I O N S<br />
  4. 4. Including Strategic Finance<br />Board-CEO Leadership<br />Strategic Finance<br />Strategic Indicators<br />Strategic Goals<br />PURPOSEFUL, ALIGNED<br />Results-Driven Culture<br />ASSET UTILIZATION – maximize<br />REVENUE - optimize<br />
  5. 5. Success Check List<br />Firm Foundation<br />No serious board or board-CEO issues.<br />Solid fiduciary oversight.<br />Deep Situation Analyses and Understanding<br />National and local challenges.<br />Sustainable trend lines of revenue and expense.<br />Leadership<br />Shared vision that is consistent with needed changes.<br />Specific goals and strategic indicators.<br />Consistent, affirming Board operations.<br />
  6. 6. Different Roles for Different Players<br />
  7. 7. From Steve Jobs to YOUR Job<br />20th Century was one of technological innovation<br />21st Century must be one of institutional innovation<br />David Wiley, BYU, http://davidwiley.org/<br />David Wiley, BYU, http://davidwiley.org/<br />

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