2020-2021 FINANCIAL PLANNING TASKFORCE May 19, 2020
Committee Charge The 2020-2021 Financial Planning Taskforce is charged with collecting, analyzing, and recommending to the Senior Leadership Team opportunities to enhance university revenues, increase administrative efficiencies, and reduce expenses, where appropriate, to offset declining enrollments and state support due to the impacts of COVID-19. The priority for reducing expenses is to eliminate non- required items, not personnel.
Guiding Questions • Is this service or program critical to the University mission? • What legal liability, if any, would be incurred if the service or program were discontinued? • Will accreditation be affected by terminating this service or changing the way it is delivered? • Would changes in a service or program negatively impact our ability to compete for students or for employees? • Will affirmative action be significantly affected by terminating this service or program, changing the way it is delivered? • Can the service or program be provided in another way, by different personnel, or by different configuration of existing personnel? • Will services to students be significantly affected by terminating this service or program, changing the way it is delivered?
Guiding Questions • Additions from the group?
FOLLOW-UP INFORMATION
Expected Impact of COVID-19 on University Finances University (Non-auxiliary) Aviation Science Course Fee (238,750) Advertising (9,500) Athletics Generated Revenue (543,500) Child Learning Center (14,000) Facility Rentals (104,546) Health Services Patient Charges (19,000) Registration Fees (2,300) Ticket Sales - Theatre/Dance (5,000) Investments (35,950) Career Guidance (13,500) Sub-total University (Non-Auxiliary) (986,046) Auxiliary Food Service (1,100,000) Student Housing (1,680,995) Foy Center (28,700) Parking & Transportation (49,900) Campus Visitor Rentals (5,000) Sub-total Auxiliary (2,864,595) Total (3,850,641)
Reserve Funds from Suspended Projects AUSTIN PEAY STATE UNIVERSITY Schedule of Reserve Balances As of 05/19/2020 Discretionary Allocations: Allocation for Reserve 4,872,290.41 Allocation for Special Projects 1,900,000.00 Allocation for Property Acquisition 1,700,000.00 Allocation for Building Match (Health Prof) 4,500,000.00 Total Discretionary Allocations 12,972,290.41
TARGET COMPLETION DATE June 16, 2020
SUBGROUP ASSIGNMENTS Draft
Subgroups • Instruction • Academic Services • Student Affairs • Athletics • Administration o Finance & Administration o External Affairs o Other Administrative Areas
COST CONTAINMENT MATRIX
Sample Savings Potential Scale • $500,000 - $1 million = $$$$ • $250,000 - $500,000 = $$$ • $100,000 - $250,000 = $$ • $0 - $100,000 = $
OPEN DISCUSSION
NEXT STEPS • Finalize Subgroups and Establish Chairs/Co-Chairs • Develop and Discuss Cost Saving Ideas and Expenditure Investments
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