Budget Presentation March 29, 2016 2
Budget Presentation Introduction FY16 Accomplishments & Productivity • Accomplishments • Productivity/Metrics • Use of Funds FY17 Planning • Major Objectives • Permanent Funding • Strategic Budget Carryover • Enhancement Request • Personnel Requests 3
College Leadership Team Gerry McKean, Interim Dean Dan Goebel, Associate Dean Tim Longfellow, Associate Dean Debbie Seifert, Interim Chair, Accounting Gary Koppenhaver, Chair, Finance, Insurance and Law Alex Barelka, Chair, Management and Quantitative Methods Kim Judson, Interim Chair, Marketing 4
Imagine First Choice in Undergraduate Business Education AACSB Accredited Business & Accounting Program
Imagine First Choice in Undergraduate Business Education
Imagine First Choice in Undergraduate Business Education
FY16 Accomplishments and Productivity 8
2012-2017, Mission, Vision, Core Values, Goals, Strategies and Tactics Vision: The first choice for business education in Illinois Mission: Through our shared commitment to excellence in teaching, research, and service, we prepare students to be skilled and ethical business professionals who will make significant positive contributions to organizations, to communities, and to our larger society. 9
Our Goals are aligned with Educating Illinois Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society Goal Two Build a community of excellent scholars, teachers, and support staff Goal Three Promote and communicate our successes and our vision of excellence and national recognition Goal Four Create and strengthen partnerships with alumni and business organizations 10
Skilled Business Professionals Goal One Prepare Critical Thinking students to become skilled business Professionalism Communications Deep professionals Content who can contribute Knowledge positively to organizations and society Ethics Leadership 11
COBEC Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 12
Goal One Prepare students to • The Business Week program provides opportunities for students to become learn and apply business skills outside the classroom skilled business professionals who can contribute positively to organizations and society 13
Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 14
Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 15
Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 16
Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 17
Goal One Prepare students to become skilled business professionals who can contribute positively to organizations and society 18
Employ an excellent faculty and staff who meet the needs of COB stakeholders Goal Two Professional Development Activity Build a community of excellent Prof Other Dept Instruction Seminar or Research Tech AoL Total scholars, Deep Prof Dev Workshop teachers, and Content support staff Knowledge ACC 1 1 12 6 4 1 25 FIL 2 3 28 8 4 5 50 MKT 3 4 12 5 3 2 29 MQM 1 1 Total: 6 8 52 19 11 9 105 19
Employ an excellent faculty and staff who meet the needs of COB stakeholders Goal Two R e s e a r c h C a t e g o r i e s Build a community of Dept Art Chp Pre Pro Grant Wrk Oth Total excellent ACC 18 3 4 5 15 45 scholars, Deep teachers, and FIL 12 13 3 3 28 1 60 Content support staff MKT 31 1 12 13 3 37 97 Knowledge MQM 13 2 11 4 1 11 42 Total 74 3 39 20 11 81 16 244 20
• Provide Professional Development Opportunities for the Faculty Goal Two Build a community of excellent scholars, teachers, and support staff 21
• Provide Professional Development Opportunities for the Faculty Goal Two Build a community of excellent scholars, teachers, and support staff 22
• Expanded BIS Innovation Lab Goal Three Promote and communicate our successes and our vision of excellence and national recognition 23
• 25% of College of Business students use 3D Printing Technology in the classroom Goal Three Promote and communicate our successes and our vision of excellence and national recognition 24
• Classroom project – systems that learn Goal Three Promote and communicate our successes and our vision of excellence and national recognition 25
The significance of disruptive technologies in business • Goal Three Promote and communicate our successes and our vision of excellence and national recognition 26
Select Accomplishments Goal Three Promote and communicate • our successes COB graduation survey to and our track employment data and vision of experiential activities for excellence current graduates. and national recognition 27
Select Accomplishments Goal Three Major Salary Accountancy (B.S.) $51,731 Promote and Accountancy (B.S./M.P.A.) $56,324 communicate Accounting (M.S.A.) $51,346 Business Administration $41,324 our successes Business Information Systems $50,000 and our Entrepreneurship and Small Business $40,577 vision of • COB graduation Finance $47,500 excellence survey to track General Marketing $40,833 and national Human Resource Management $41,250 employment. recognition Insurance $50,000 Integrated Marketing Communications (IMC) $40,962 International Business $50,500 MBA $52,500 Organizational Leadership $45,357 Professional Sales $45,909 28
Select Accomplishments Goal Major % Internship Accountancy (B.S.) 47.89% Three Accountancy (B.S./M.P.A.) 66.67% Accounting (M.S.A.) 84.62% Promote and Business Administration 52.54% communicate Business Information Systems 28.57% our successes Business Teacher Education 0.00% and our • Entrepreneurship and Small Business 60.00% COB graduation vision of Finance 63.92% survey to track General Marketing 71.70% excellence internships. Human Resource Management 70.83% and national Insurance 85.00% recognition Integrated Marketing Communications (IMC) 79.07% International Business 83.33% MBA 12.50% Organizational Leadership 65.00% Professional Sales 82.14% Grand Total 63.65% 29
Select Accomplishments Goal Major Study Abroad Accountancy (B.S.) 4.3% Three Accountancy (B.S./M.P.A.) 0.0% Accounting (M.S.A.) 0.0% Promote and Business Administration 6.9% communicate Business Information Systems 14.3% our successes Business Teacher Education 0.0% and our • Entrepreneurship and Small Business 3.3% COB graduation vision of Finance 8.5% survey to track General Marketing 5.6% excellence study abroad. Human Resource Management 14.3% and national Insurance 5.0% recognition Integrated Marketing Communications (IMC) 11.6% International Business 66.7% MBA 26.7% Organizational Leadership 0.0% Professional Sales 0.0% Grand Total 8.4% 30
Select Accomplishments • Maintain existing and create new relationships with businesses and Goal organizations that partner with the COB and hire our graduates. Four Create and strengthen partnerships with alumni and business organizations Early Career Achievement Awards 31
Select Accomplishments Goal Increase Private Financial Support • Four Create and strengthen partnerships with alumni and business organizations 32
Select Accomplishments Goal Continue existing and seek out new programs • that strengthen partnerships Four Seniors Freshmen Create and Least risky long term? Combination of GOOG and MSFT 53% 69% strengthen Least risky long term? Combination of GOOG and LUV 32% 14% partnerships with alumni Largest return, greater than 10 years? Stocks 41% 29% and business Largest return, greater than 10 years? CDs 8% 22% organizations Correct on all three questions on WSJ financial literacy test 43% 25% Correct on all seven financial literacy questions 16% 0% "Interested" or "strongly interested" in financial literacy workshop 38% 38% 33
Measures of Productivity: 34
Measures of Productivity: Enrollment Fiscal Year FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Trend Students Fiscal Year Count Count Count Count Count Count University Total 22,388 22,416 21,947 21,400 21,714 Business 3,561 3,520 3,562 3,516 3,866 3,912 ACC 788 794 826 871 953 960 MBA 271 205 178 164 141 114 FIL 610 581 559 535 596 562 MQM 1,091 1,186 1,247 1,217 1,363 1,468 MKT 801 754 752 729 813 808 FTIC enrollment increased 39% from FY14 to FY15. The increase in FTIC enrollment in FY16 again matched the 39% increase from FY14. 35
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