1 / 19

Financial Trends and Highlights

Financial Trends and Highlights. Mission. Education for Employment. Strategic Goals FY11. Diversity Enrollment Engagement Teaching and Learning Financial Stewardship. Current Financial Health. Source : www.finance.mnscu.edu/accounting/financialstatements.

kaori
Download Presentation

Financial Trends and Highlights

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Financial Trends and Highlights

  2. Mission • Education for Employment

  3. Strategic Goals FY11 • Diversity • Enrollment • Engagement • Teaching and Learning • Financial Stewardship

  4. Current Financial Health

  5. Source: www.finance.mnscu.edu/accounting/financialstatements

  6. Source: www.finance.mnscu.edu/accounting/financialstatements/2011-2009 Composite Financial Index Strengths

  7. Source: Audited Financial Statements

  8. State Revenue Support Source: Audited Financial Statements and 2012 appropriations

  9. Source: FY11 Bld and CIP Leadsheet

  10. Factors that Affected the College in FY11 • Increasing program efficiency • Utilized external/federal dollars and internal profit centers • Obtained external in-kind donations to support technical education • Declining state appropriation • Consistent enrollment growth • Rising costs of equipment and materials necessary to meet industry standards in technical education • Substantial increase in use of financial aid, third-party billing, and collections • Meeting the criteria of external accrediting bodies and organizations

  11. Evolving Financial Factors • State and federal revenue support • Diversification of alternative resources • Enrollment uncertain • Establishing appropriate tuition rates • Changes in salary and benefit expenses • Impact of negotiated employment agreements • Cost of maintaining facilities and equipment necessary for technical education • Shifting needs and expectations of students’ educational experiences

  12. Future Financial Health

  13. Source: ISRS screen AR0101UG “Tuition Rates Entry”

  14. Budget Principles for the Future • Incorporate MnSCU strategic framework and newly adopted DCTC strategic directions • Serve the economic development needs of Dakota County and the region • Demonstrate stewardship through financial accountability to stakeholders • Sustain long-term financial viability through planning and collaboration • Provide student environment that leads to desired student outcomes

  15. Plans to Strengthen Future Financial Health • Continue to maximize enrollment for programs • Maximize efficient use of all facilities • Diversification of revenue streams • Continually evaluate staff and program efficiency • Implement shared administrative service functions and/or campus cooperative efforts with other MnSCU colleges • Implement new retention initiatives • Leverage partnerships • Pilot tuition incentive model

  16. A member of the Minnesota State Colleges & Universities system and an affirmative action, equal opportunity employer and educator. This document is available in alternative formats to individuals with disabilities by calling 877-937-3282 or TTY: 651-423-8621.

More Related