PRIORITY 1
Create long-term financial stability using multiyear all funds budgeting to include diversifying revenue streams and implementing cost containment measures for the University, thus reducing dependency on tuition revenue and enhancing financial resilience
TACTICS
- Establish public-private partnerships with the goals of increasing our graduate and undergraduate-level online degree offerings in workforce-relevant programs and enhancing our digital learning environment.
- Develop a model to incentivize the academic arm of the University to offer non-credit offerings.
- Apply cost containment measures to reduce the University's existing costs and control future costs, such as reallocation of scholarship funding source to Foundation as appropriate, reviewing current policies on pay above base pay, and re-evaluating discounted and/or waived tuition and fees.
- Refine the approval processes for revenue-producing activities. Revenue producing activity is when revenue is generated from the sale of products and/or services provided by the University and/or University employees.
PRIORITY 2
Enhance communication and understanding of the budget process and allocation of resources through development and implementation of a budgeting process that fosters transparency, holds individuals accountable for financial stewardship, and ensures clear communication of budget approaches across all levels of the organization
TACTICS
- Improve understanding and communications to internal stakeholders regarding the budget process through the following: website about the budget cycle/timeline; share enrollment numbers used for budgeting, projections, reporting; emails about status of funding with the Legislature, Board of Regents, University of Louisiana System, and University; regular budget meetings with major business units; and financial dashboards.
- Increase budget and related financial training including, but not limited to, training on realistic management of budget and expenses related to budget expectations and Workday Financials.
PRIORITY 3
Foster comprehensive campus sustainability through integrated life cycle cost analysis and active student engagement
TACTICS
- Establish guidelines to evaluate new and existing campus sustainability programs which look at not only the initial cost of the project, but account for the life cycle cost. Establish criteria to make a go/no go project decision and to guide the direction of existing projects.
- Undertake initiatives aimed at enhancing campus resilience against adverse weather conditions.
- Increase student and employee involvement in sustainability projects.
鈥淭he University鈥檚 finance goals are to ensure鈥痩ong-term financial sustainability鈥痜or the institution and provide鈥痗lear and consistent communications鈥痶o stakeholders regarding our budget process. 鈥 ~ Finance, Infrastructure and Sustainability Task Force
PRIORITY 4
Enhance the holistic student experience by improving learning environments and campus amenities
TACTICS
- Assess and improve classrooms.
- Upgrade campus housing.
- Upgrade other campus amenities.
PRIORITY 5
Optimize campus space utilization to foster collaboration, efficiency, and sustainability
TACTICS
- Strategically schedule classroom utilization with the aim of a smaller campus footprint.
- Examine existing space utilization to determine if buildings could be shut down or space rented.
