I.

Goal

The University should achieve a balanced economic structure, comparing its revenue and expense components to those of its peer and aspirant institutions.

Objectives

1. Benchmark all University operations through the use of studies coordinated by the National Association of College and University Business Officers (NACUBO) and other groups. See Technology Goal I, Objective A; and Enrollment Management Goal V, Objectives C and D.
2. Ensure that the differences are intentional when data on particular University operations are not consistent with external benchmarks.
3. Analyze auxiliary operations (e.g., food service, housing, telephone service resale) and determine the appropriate balance of revenue and expenses.
4. Develop and implement a financial aid strategy that includes an appropriate level for student financial aid consistent with goals in the Enrollment Management Theme. See Enrollment Management Goal II, Objectives A-D.

II.

Goal

The University will align its Five-Year Financial Plan with its Strategic Plan.

Objectives

1. Cost out all strategic initiatives including personnel, capital equipment, supplies and facilities needs.
2. Establish levels of priority for all strategic initiatives.
3. Incorporate strategic initiatives into the Five-Year Financial Plan.
4. Coordinate budget and planning calendars.
5. Bring consideration of the Five-Year Financial Plan to the University Planning Committee (UPC) and the Administrators’ Conference (AC).

III.

Goal

The University will continue its exemplary care of campus facilities and will develop new facilities as identified through planning.

Objectives

1. Strengthen commitment to the Facilities Maintenance Plan (FMP) and Facilities Improvement Plan (FIP).
2. Implement a Facilities Master Plan that is guided by the Strategic Plan and Five-Year Financial Plan. See Enrollment Management Goal V, Objective E.

IV.

Goal

The University will reduce its reliance on tuition revenue.

Objectives

1. Institutional Advancement will establish and meet goals that increase voluntary support to the University.
2. Increase the size of the University’s endowment. See Enrollment Management Goal II, Objective D.
3. Increase revenue from sources other than tuition, room and board.
4. Establish a culture of grant writing within the University among both the administration and faculty by promoting, supporting, recognizing and rewarding this activity. See Faculty Goal I, Objective D.

V.

Goal

The University will develop an organizational culture that promotes an ongoing review of operations to ensure the efficient distribution of financial and human resources.

Objectives

1. Develop financial and operational assessment plans. See Enrollment Management Goal V, Objective A
   and C.
2. Focus assessment mechanisms on areas highlighted by the benchmarking study.
3. Develop a human resources plan that is linked to the strategic plan.
   See Diversity & Globalization Goal I, Objective A;
   Enrollment Management Goal V, Objective D;
   Governance Goal II, Objectives A-C and Goal IV, Objective B;
   Public Image Goal I, Objective C;
   Technology Goal I, Objectives C, E & F; and
   The Service of Faith and the Promotion of Justice
   Goal I, Objective C and Goal VI, Objective A.

VI.

Goal

The University will increase its Standard and Poor’s A minus (A-) rating to an A.

Objectives

1. Improve the University’s financial ratios as defined by Standard and Poor’s and Moody’s. See Enrollment Management Goal II, All Objectives.
2. Strengthen enrollment statistics. See Enrollment Management Goal I, All Objectives.
3. Generate sufficient budget surpluses to increase financial reserves.
4. Increase the size of the University’s endowment. See Enrollment Management Goal II, Objective D.