Financial Sustainability

This pillar aligns with VSCS strategic priorities 2, 3, 4, 5

Priorities & Strategies

BALANCED BUDGETS

  • Utilize new enrollment strategies and other recruitment and retention initiatives to increase revenue.
  • Examine ROI on budget spends to maximize impact.

RESTRUCTURE & RIGHT-SIZING

  • Complete two-year implementation of restructuring to align revenue and expenses, from incentivized retirements, complete position elimination and departmental consolidations.
  • Establish marketing budget to promote growth initiatives.

ESTABLISH MARGINS

  • Generate new programs, strengthen current programs, and increase opportunities for interdisciplinary course offerings.
  • Closely monitor spend to budget, adjust as needed.

REPLENISH RESERVES

  • Prioritize surplus allocation to replenishing.
  • Closely track all accounts to ensure posts are appropriate and accurate.