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Business First Editorial Board Dr. James Ramsey President, University of Louisville

Business First Editorial Board Dr. James Ramsey President, University of Louisville. NOVEMBER 8, 2013. Thank you. Our Trajectory – Pretty “Damn” Amazing. So, While Modest Economic Recovery, State Budget (2008-14) Continues To Be Ugly Because of Expenditure Side of Budget.

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Business First Editorial Board Dr. James Ramsey President, University of Louisville

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  1. Business First Editorial Board Dr. James RamseyPresident, University of Louisville NOVEMBER 8, 2013

  2. Thank you

  3. Our Trajectory – Pretty “Damn” Amazing

  4. So, While Modest Economic Recovery, State Budget (2008-14) Continues To Be Ugly Because of Expenditure Side of Budget http://www.ksba.org/protected/PrintArticle.aspx?iid=50GAYB&dasi=3UBI

  5. The Real Issue 5.787 million Jobs lost in the recession US jobs December 2007 US jobs September 2013 137,982,000 136,290,000 Jobs gained in the recovery 7.479 million Still 1.69m fewer people working today http://beta.bls.gov/dataViewer/view/timeseries/CES0000000001http://www.deptofnumbers.com/employment/us/

  6. Kentuckians working August 2013

  7. But there is more to it Kentucky Manufacturing Employment August 2013 Why Important? WAGES!

  8. Just a little comparison

  9. Continue to face difficult state and fiscal challenges that impact our future Slow State General Rund revenue growth(estimate 2013/14 is 2.5%, FY 14/15: 2.4%, FY 15/16: 2.3% State’s structural budget imbalance still exists(more funding needed for state pensions) Our Outlook

  10. Limited / if any funding for higher education Funding, if available, tied to “performance” Funds, if available, tied to specific initiatives; i.e. “college readiness” Continued pressure on modest tuition increases Tough Fiscal Outlook to Continue 2014 - 2016 Our Outlook

  11. “Our Seven Strategies” 1. Continuing re-engineering of processes and expense management 2. Aggressively improving balance sheet management,with an emphasis on converting underperforming assets 3. Increasing clinical income to support education and research 4. Increasing contract research and commercialization income5. Creating private sector partnerships 6. Being creative in expanding the research mission through innovative financing tools like the tax increment financing plan 7. Enhancing fund raising

  12. Our Trajectory Possible Paths of Future • Continue on our trajectory – 2020 Plan • Trajectory slows down – push out date in 2020 Plan • We accept where we are – flatline • The “unthinkable.”

  13. Next step in campus discussions of “University of 21stCentury” 1. “Clusters” of excellence 2. Reviewing education delivery models that are student centered 3. Look at organization/structural/financial processes 4. Build culture of excellence

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