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Meeting the Fiscal Challenge

Meeting the Fiscal Challenge. The Achievements of the University of Alberta in Cost Containment and Revenue Enhancement. Funding Solutions Task Force (FSTF).

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Meeting the Fiscal Challenge

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  1. Meeting the Fiscal Challenge The Achievements of the University of Alberta in Cost Containment and Revenue Enhancement

  2. Funding Solutions Task Force (FSTF) • December 2002, EPC announced 4.4% and 6% reductions to Faculties and administrative units over 4 years. This will reduce expenditures by $14.3 million by year 4. • FSTF to engage community in identifying additional cost containment strategies and revenue enhancement opportunities: - Cost Containment $3.4 million by 05/06 - Revenue Enhancement $21 Million by 05/06

  3. FSTF Achievements Engaged campus community by • Developing a new Stakeholder committee: • academic and non-academic staff Associations • graduate and undergrad student Associations. • Developing 14 expert panels/working groups; membership included: administration, faculty, staff, external experts • Attending meetings across campus to gain additional suggestions.

  4. FSTF Achievements • 225 suggestions (excluding duplicates) from the campus community: faculty, staff, students, Portfolios. • Resulted in 86 recommendations • 21 recommendations later deemed not viable at this time. • 60 recommendations already implemented and returning savings/revenue to the University.

  5. FSTF Achievements • To date FSTF recommendations have reaped $10.3 M. • Achievements are on track with original FSTF targets. • However, the ability of central administration to capture savings and revenue is falling short of expectations, but is still being captured by the University as a whole.

  6. FSTF Achievements Target: $24.4

  7. Best Practice Campus Community Engagement External Community Engagement University's Commitment 100% 100% 100% 100% Target Target Target Target FSTF Achievements 100% 60% 0%

  8. FSTF Lessons Learned • Working Group was appropriate size and membership to achieve FSTF goals. • Weekly meetings of Working Group ensured consistency and focus. • Opportunities presented by the FSTF were appropriate for the University community to give due consideration.

  9. FSTF Lessons Learned • FSTF process allowed the University some budget flexibility. • Would have looked at external models earlier in the process. • True cost of FSTF process unknown as members of FSTF and expert panels added FSTF-related work onto regular duties.

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