About Concord

President's Taskforce on Cost Savings and Efficiency

Updates:

The President of Concord University has established a cross-functional University Taskforce on Cost Savings and Efficiency.  The Taskforce will review and recommend strategies for immediate and longer term initiatives to improve organizational efficiency and reduce operational costs this year while maintaining the mission, quality and viability of the University.

The Taskforce is not a permanent administrative committee or structure.  Rather, it will continue to exist only as long as needed to achieve its stated objectives.

Membership

The President has appointed individuals from multiple constituency groups to serve on the Taskforce including:

  • Faculty members (Joe Allen, Tom Ford, Joe Manzo, and Rick Druggish)
  • Classified Staff Members (Carolyn Cox, Doug Moore, Tammy Lilly, and Amy Pitzer)
  • Non-Classified Staff Members (Steve Meadows, Connie Shumate, and Tracy Gill)
  • Senior administrators [Co-Chairs] (Chuck Becker and Dan Fitzpatrick)
  • Students: (Ronni Wood, Sarah Fancher, Shelby Yancey, Mikaela Adkins, and Laken Sutton)
  • Staff Liaison - EJ Cahill, Controller

The Taskforce may engage with subject matter experts within the university as needed and appropriate.

Charge

The Taskforce’s charge is to review, consider options, and make prioritized recommendations to address University fiscal challenges while enhancing and not diminishing the University’s core mission, quality, and effectiveness. The generated recommendations should, therefore, improve enrollment (recruitment and retention), graduation rates, fundraising, and other measures of effectiveness while also improving efficiency.

Meetings

The Taskforce will meet regularly beginning in early November 2016.  Meetings may be held face-to-face or by teleconference.  Agendas will be developed by the Co-Chairs and circulated in advance of each meeting.

Expectations

The Taskforce is expected to make recommendations on enhancing the general efficiency of the University while achieving its mission.  Taskforce Recommendations should identify both how quickly actions can be taken and the level of difficulty to take said action.  

  1. Financial Goal: Achieve a positive bottom-line of 3% of net revenues or approximately $1.2 million in current fiscal year.
  2. Financial Goal: Build cash on hand to $3M by June 30, 2017
  3. Financial Goal: Strategic reallocation of resources to areas of new opportunities and offering continued growth based upon demand and / or external drivers of demand.

Objective 1: Identify initiatives to affect reductions in University operating costs to eliminate the structural deficit and improve positive net income and cash on hand.

  • These should include immediate and longer term cost cutting actions that could be taken to:
    • Eliminate any non-essential spending
    • Personnel / staffing adjustments
    • Bring in additional revenues / cash and reduce outflow of cash

Objective 2: Identify initiatives to eliminate any non-essential and / or non-sustainable process or practice that does not add value from the student’s or other customer’s perspective.

  • Classes or programs without sufficient numbers to make the class or program viable, without consideration of the merit of the class or program, are examples of unsustainable practices.  Example: great or outstanding program with no or few takers represents misuse of resources.
  • Policy, procedure, or process revisions that impede student progress

Objective 3: Identify and recommend revenue enhancement initiatives for both short-term immediate and longer term revenue generation. 

  • New program development.  Example: Criminology emphasis in sociology
    • Cross-college or Cross-departmental Offering
    • Online Program Development

Objective 4: Develop a retrenchment plan with prioritized activities / actions in the event the Board, HEPC, or state declares financial exigency.

Recommendations

The Taskforce should summarize its recommendations for each of the following categories.

  1. Academic Affairs

7. Facilities / Services

  1. Administrative (structure or processes)

8. Fundraising

  1. Athletics

9. Other

  1. Energy Conservation

10. Personnel / Human Resources

  1. Enrollment

11. Procedures

  1. Equipment / Supplies

12. Student Services / Fees

Communications

The Taskforce will provide weekly updates to the President, through the Chair(s), on its progress, findings, and recommendations.