USNH Board of Trustees Meeting October 25, 2019
This morning... Keene State • The region we serve • Our mission • Looking forward and establishing priorities Enrollment Strategy at Keene State College • Observations and expectation setting • Positioning • Immediate areas of focus and future cast Financial performance and critical trends of importance Achieving our strategic goals: 3-year Sustainability and Vitality Plan Key strategic priorities
The region we serve
Economic trends and strategic commitments Troubling economic indicators for our region: (rural/urban schism) • Rural areas now have 4.4% fewer jobs than in 2008 • Urban areas have 12.4% more jobs than in 2008 • For Cheshire County median income is now 14.8% lower than the state average. In 2012, the difference was only 7%. • Total employment in Cheshire County has dropped by 0.5% year over year while it has grown by 2.3% in NH and 2.5% in the US • Our poverty rate is now 18% higher than the state average.
Economic Indicators in New Hampshire New Hampshire Fiscal Policy Institute, June 28, 2019
Poverty in New Hampshire New Hampshire Fiscal Policy Institute, August 29, 2019
Job Growth in New Hampshire New Hampshire Fiscal Policy Institute
Economic trends and strategic commitments Workforce pipeline Create pathways, build partnerships, retain talent, reduce cost Reduce debt and offer flexibility • Business Hub • Community College System of NH partnership • Career and Technical Education partnerships • Running start and early college credit mapping and delivery • Cultural Vibrancy — All Steinway, Thorne-Sagendorph, Redfern • Interrupting the poverty cycle — Keene Housing Kids Collaborative • Educational programs — for pre-service and in-service educators • Supporting partners and working to address substance misuse
The work ahead to differentiate Keene State • Role and mission of public liberal arts college • Articulate the value of the public liberal arts in a growth/knowledge economy • Increasingly embrace our role as Steward of Place Future essential roles for Keene State College: Talent Developer Employer Research Partner Innovator Client Creative force Colleague Catalyst Resource Leader Supporter
SVP Goal #1 Recruit and Retain
Retention trends First-to-second and First-to-Third Year Retention Rates by Incoming First-Time Cohort 100.0% 90.0% 81.1% 80.0% 79.2% 77.4% 79.3% 80.0% 76.1% 76.0%76.4% 76.5% 73.4% 75.4% 71.2%72.1% 71.3% 68.2% 69.3% 67.9% 67.5% 65.2% 67.5% 66.2% 64.5% 66.0% 63.0% 70.0% 64.0% 60.0% 50.0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 INCOMING COHORT First to Second Year First to Third Year
Keene State Serving First-Generation College Students 100% FIRST-GENERATION COLLEGE 80% PERCENTAGE 60% 58% 50% 45% 43% 41% 42% 40% 20% 0% 2014 2015 2016 2017 2018 2019 INCOMING COHORT
Looking ahead Demographic trends and forecasts: • Traditional undergraduate population • New populations to attract and retain • New pathways and credentials • Quality rankings matter
Demographics and the Demand for Higher Education Nathan D. Grawe
Figure 1.5. Forecasted growth in high school graduates, 2012 to 2032. Source: Author’s calculations based on Western Interstate Commission for Higher Education (2016)
Keene State home states of undergraduate matriculated students
Figure 1.6. Forecasted growth in public high school graduates by race/ ethnicity, 2012 to 2032. Source: Author’s calculations based on Western Interstate Commission for Higher Education (2016)
Points of Distinction U.S. News and World Report’s 2020 rankings among regional colleges in the North named Keene State: #10 in Best Schools, #5 in Most Innovative Schools, and #7 in Best Value Schools. National/State Accreditation Athletic Training Chemistry Counseling Center Dietetics Educator Preparation Music Nursing
We are Keene State We will be defined by our: - Community - Commitment - Transformative Experiences Our promise to students: You will… ▪ Belong ▪ Be Challenged ▪ Be Invited to Engage ▪ Be prepared for a future of change and personal opportunity
Sustainability & Vitality Plan 2018 - 2021
Goal 1: Improve Recruitment, Retention & Achievement Prospects 6.6% Inquiries 40% Applicants 87% Accepted Enrolled 20.2%
Increase applications as priority Year Registered Attendees % of registrants to attended 2017 310 206 66.4% 2018 223 156 69.9% 2019 356 253 71.0% Specific, intentional activity to drive attendance: • improved website pages and content • improved registration experience • specific digital campaigns to drive attention to open house • additional calls and texts from student works and OEC to encourage engagement
Delivering our promise to the students we recruit Student Success • Connection to the Academic and Co-Curricular Plan • Partnership of Academic Affairs and Student Affairs • Initial Student Success Summit • Academic planning and program review
SVP Goal #2 Fiscal Balance and Stewardship
Comparison of Revenues and Expenses 2015-2019 125,000,000 120,912,513 120,000,000 118,541,215 114,911,163 115,000,000 110,616,651 110,000,000 112,065,995 108,212,953 103,347,246 105,000,000 98,896,348 100,000,000 101,000,169 95,000,000 96,120,505 90,000,000 85,000,000 80,000,000 2015 2016 2017 2018 2019 Revenues Expenses
Trend in Net Tuition Revenue
Trend in Institutional Discount Rate 32.7% 35.0% 30.5% 30.0% 27.6% 30.0% 25.8% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% FY 2017 Actual FY 2018 Actual FY 2019 FY 2020 FY 2020- Budget Projected
Enrolling the KSC Demographic • Addressing the econometric model and aid discounting • Net tuition revenue as priority focus • Rewarding behavior that drives conversions • Specific, increased attention to driving web traffic • Re-imagining our student-visit experience • Improved application process for KSC prospects • Filling the pipeline with sophomore and junior prospects • Improved recruitment process for graduate programs
SVP Goal #3 Rethinking our work
Salary Distribution by Classification Casual/PT/Student 6% Operating Staff 11% Faculty 45% PAT Staff 38%
Composition of Salaries by Classification 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - FY17 Actual FY18 Actual FY 2019 Final FY20 Budget Projection for FY Pre-Audit 2020 Faculty PAT Staff Operating Staff Casual/PT/Student
Headcount and Salary by Classification
Progress of the Classification Review Project as of 9/30/2019
Progress of the Classification Review Project as of 9/30/2019
Annual Impact of Classification Corrections by Unit
Strategic Investment Priorities
Strategic Directions • Achieving operational balance and efficiency • Becoming a more nimble, responsive, student-centered community • Addressing regional economic vitality – delivering talent, culture, welcome, and support • Delivering educational promise – opportunity, access, and affordability • Offering acceleration and flexibility of credentialing • Addressing regional needs through partnership, support and direct action
FY 2020-2022 – Keene State College 3 year priorities/requested Strategic Investments* • Enrollment management strategic repositioning (brand/market penetration, web, tactical investments) • Financial affairs and business operations review and realignment • Redesign Change management and project management support • Holistic data reporting and analytics capacity • IT realignment and investment/disinvestment in enterprise tools • Academic program review and future focus assessment • Student support and infrastructure investment • New program delivery options and student cultivation methods *Elements of all represent synergy opportunities for USNH
FY 2020-2023 – Keene State College 3 year priorities/requested strategic investments • Capital resources to raze and realign physical plant and to invest in narrow field of near term opportunities (i.e. track, All Steinway, energy efficiency investments) • Margin relief in alignment with our multi-year plan commitments • Support for new public/private partnership investments (Business Hub, Energy Services Company-ESCO, others)
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