Many of the biggest challenges facing faith-based higher educational institutions today can be overwhelming. Especially when systems, traditions, finances, and institutional culture get in the way of making necessary changes.
How can you solve the following issues facing your campus—and every campus?
- Strategically increasing your enrollment
- Leveraging your audit to effectively communicate with your various constituencies
- Finding new sources of revenue
- Fostering innovation and keep up with our fast-paced changing culture
- Eliminating deferred maintenance
- Regaining hundreds of wasted hours
Be ready for these big problems to arrive—not if, but when.
1) Thriving in Turbulent Times
The rate and extent of change are escalating at such a pace and to such an extent that many schools find themselves at risk. In such an environment, how can a school’s leadership team respond best? A few foundational principles can equip you with specific, strategic practices to help your team perform better in the following stages of change::
- Anticipate inevitable change
- Evaluate the possible impact of those changes
- Innovate wisely in response
- Develop and execute your plan wisely and well
Alan Pue, President of the Barnabas Group, will present these principles at the 2019 ABACC summer workshop, July 15-17, 2019 in Orlando, Florida.
2) Solving the Deferred Maintenance Problem
The topic of deferred maintenance is a popular one due to the ease of which institutions find themselves in overwhelming and un-budgeted deferred maintenance. While it’s easy in any given year to defer maintenance due to budget pressures, it is insidious in the relentlessness of its ongoing compounding.
How can you help your institution develop a plan to identify, prioritize, get buy-in, and solve deferred maintenance issues? Some concepts to think about include:
- The average age of plant and plant maps
- Master planning and related financial modeling
- Project budgeting, including adequate contingency
- Reverse engineering to financial ratios
- Developing a communications plan
Malcolm Nimick, Principal at Ascension Capital Enterprises, will answer these questions and cover these concepts at the 2019 ABACC summer workshop, July 15-17, 2019 in Orlando, Florida.
3) Streamlining, Resourcing Information, and Securing Future Finances
Is it possible to “get back” 100-plus hours a year of your valuable time by minimizing disruptions? Improving communications with insiders and your external audit team is one pathway. Another is brainstorming about and sharing ways to harness technology, fine-tune processes, and measure/track only what matters.
Where are you getting the information you need to manage the financial aspects of your institution so you can maximize instruction? You can waste a lot of time and effort—from the FASB to the Department of Education, to the IRS, to state regulators, to the Schedule K-1s— if you are not careful. Start by determining which resources are valuable and then build a resource list that will best serve your team.
How might you construct a prayerful, collaborative approach that cuts through the noise and works for your school as it walks the enterprise journey? Have you considered alternative revenue sources? This solution continues to be “in the conversation” and holds the potential to secure the future of your institution.
Discuss these issues and find answers with Dave Moja, CPA, at Moja & Company, at the 2019 ABACC summer workshop, July 15-17, 2019 in Orlando, Florida.
4) Achieving Strategic Enrollment Health When the Going Gets Tough
Strategic enrollment health is defined as “enough of the right students at the right price.” Are you looking for actionable ideas to move enrollment in this positive direction?
Achieving strategic enrollment health is only possible through the right mix of practices, programs, people, and price/value.
And what informs these keys to growth? Relevant data from NACCAP Enrollment Research Project is one source, among many.
Process this crucial problem and gain insight from Tim Fuller, Sr. Vice President/Owner of Credo, at the 2019 ABACC summer workshop, July 15-17, 2019 in Orlando, Florida.