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Strategic Resource Allocation Project Board of Regents Plenary October 5, 2017 SRAP Background Five Ways Your Institution Can be More Cost Effective, by Lucie Lapovsky; Trusteeship Magazine July/August 2012 The Small College

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Strategic Resource Allocation Project Board of Regents Plenary

October 5, 2017

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Five Ways Your Institution Can be More Cost Effective, by Lucie

Lapovsky; Trusteeship Magazine July/August 2012

The Small College Imperative: From Survival to Transformation, by

Mary B. Marcy; AGB White Paper, May 2017

Projections of Educational Statistics to 2025, by National Center for

Education Statistics, 44th Edition

St. Olaf College Strategic Resource Planning Guide – Fall 20107

SRAP Background

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(6,000,000) (4,000,000) (2,000,000)

2,000,000

4,000,000 6,000,000 8,000,000 10,000,000 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022

Unrestricted Net Change Trendline

Short of Capital Goal: 2.5% UR Rev Unrestricted Operating Deficit Endowment Contribution Capital Contribution

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Tuition and Discount History

FY2018 FY2017 FY2016 FY2015 FY2014 Net Tuition Revenue $58,710,000 $61,634,767 $62,930,256 $63,863,448 $66,811,659 Net Comprehensive Fee $86,918,000 $88,375,275 $88,974,183 $88,736,983 $91,882,715 Unfunded Aid $68,027,000 $60,745,383 $57,969,396 $53,103,607 $52,253,439 Funded Aid $9,833,000 $8,554,738 $7,439,244 $6,927,914 $5,987,436 Total discount $77,860,000 $69,300,121 $65,408,640 $60,031,521 $58,240,875 $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000

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FY17-18 Budget Planning Actions Scenario Planning $2.0M Early summer $1.0M Late Summer $1.7M Total $4.7M

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Strategic Resource Allocation Project (SRAP)
What is it?
Why is it being done?
Who will be involved?

What’s Next?

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SRAP

Executive Sponsor

President

Steering Committee

VP/CFO
Provost and Dean of Faculty
Faculty Governance and Faculty Board Rep Elect
Assistant to the President for Diversity
VP Mission
Student

Review Groups

Instructional
Non-Instructional
Special Topics: Financial Aid Strategies and

Benefits Analysis

Department Chairs
Program Directors

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SRAP Principles

Demonstrate alignment with the College’s Mission and

Mission in Practice Statements

Uphold the reputation and quality of the St. Olaf experience
Contribute to St. Olaf’s “value proposition” for students
Identify strategic opportunities or improvements
Continue development of the Strategic Plan

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SRAP Goals

Develop a plan that includes:

Sufficient resources to support programs,
Competitive compensation packages
Commitment to capital enhancements,
Contingency for unforeseen emergencies.

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SRAP Modeling

SRAP Proforma Assumptions: Revenue growth = 1.50% Expense growth = 1.00% Budget FY17-18 FY18-19 FY19-20 FY20-21 FY21-22 Revenues 127,228 129,136 131,073 133,040 135,035 Less: Expenses 124,123 125,364 126,618 127,884 129,163 Net Change 3,105 3,772 4,456 5,156 5,872 2.5% to Capital 3,105 3,228 3,277 3,326 3,376 Contingency/Quasi

1,179 1,830 2,496 Balance Budget Check

SRAP 4-Yr Proforma

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