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Illustration symbolizing financial sustainability

Achieving Financial Sustainability

Promoting long-term financial health through revenue diversification, responsible stewardship of resources, and optimized management of university assets.

Signature Initiatives

  • Identify opportunities for revenue diversification.
  • Promote responsible stewardship of university resources.
  • Finalize and Execute Strategic Enrollment Management Plan.
  • Unlock the potential of under-utilized assets.

Progress

Recommendations
Not Started
In-Planning
In-Progress
Completed

Identify Opportunities for Revenue Diversification

Recommendation Phase Progress
1.1 Identify potential donors: alumni, businesses we have paid in the past, past donors, etc. 4
 
In-Progress
1.2 Assign group of donors to various positions on campus (Deans, Athletics Director, President, Advancement, Provost, others as needed) 3
 
In-Planning
1.3 Identify grants we desire to apply for and use third party to submit proposals 3
 
In-Progress
1.4 Contract with multiple grant writing companies and form a group internally to decide which grants to apply for 4
 
In-Progress
Success Measures    
Success measures: Total revenues year over year, number of successful grants and contracts, amount of additional funding from grants and contracts, amount of private, corporate, and foundation giving.
Target: Increase overall revenue for the university (Execution 30%)		    

Promote Responsible Stewardship of University Resources

Recommendation Phase Progress
2.1 Share, consolidate, and/or outsource services 4
 
In-Progress
2.2 Update heating and cooling controls across campus 4
 
In-Progress
2.3 Change lighting to LED and install motion sensor switches across campus 4
 
In-Progress
2.4 Implement zero-based budgeting 4
 
In-Progress
2.5 Identify additional rental spaces on campus 4
 
In-Progress
Success Measures    
Success measures: Operating expenditures per FTE, number of outsourced or shared services.
Target: Optimize use of university resources to achieve strategic goals (Execution 60%)		    

Unlock the Potential of Under-Utilized Assets

Recommendation Phase Progress
3.1 Create and send customer service survey for film shoots 3
 
In-Planning
3.2 Put CSU on event boards 3
 
In-Planning
3.3 Update website for films/events 4
 
In-Progress
3.4 Market housing units to internal and external students 4
 
In-Progress
Success Measures    
Success measures: Number of external users of space, number of one-time vs. ongoing customers, housing occupancy rate.
Target: Increase use of university space and increase occupancy rate (Execution 25%)		    

Committee Members

  • Nick Henry

  • Akwai Agoons

  • Scott McElroy

  • Jermaine Rolle

  • Lauren Williams

  • Thomas Stein