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Fall Update on the Budget, Financial Framework and Key University Initiatives
MASON MOMENTUM
SVP Carol Dillon Kissal | Provost S. David Wu | September 11, 2019
Welcome to Mason!
Anne Holton, Interim President
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Mason Nation
Access to Excellence
Thriving Together
Talent Ecosystem
Innovation Engine
Institutional Effectiveness
KEY UNIVERSITY INITIATIVES
Improve Processes – Student Experience RedesignExpand Access: ADVANCE PROGRAM
Compensation increases for Faculty & StaffBuilding for the Future – Core Campus
Improved Processes and Increased TransparencyPerformance Management Process
Arlington Innovation DistrictSecure external support for the Institute for a Sustainable Earth and the Institute for Digital Innovation
Launch multidisciplinary curricular innovationsMeet targets for the Tech Talent Investment Program
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Provide affordable access for all students
Grow enrollment and degree production
Expand online program enrollment
Create accessible pathways for diverse populations
Access to Excellence
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Community College Partnerships
Expand Online Programs
Build Virtual Campus
Access to Excellence Strategy
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GUIDED PATHWAYSTargeting high-demand disciplines
REDUCED TUITIONSaving students time & money
DEDICATED ADVISINGNOVA admission through
Mason graduation
NEW TRANSFER MODELSingle point of admission
WORKFORCE NEEDSEngaging K-12 and regional
businesses
Mason’s ADVANCE partnership with Northern Virginia Community College (NOVA) will also play a role in developing the talent pipeline, collaborating with Northern Virginia employers to adapt and create high-demand programs to fulfill critical workforce needs, much like Mason’s with Amazon.
ADVANCE A NOVA | Mason Partnership
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Student Success Strategies
Strengthen inquiry-based, experiential learning through Mason Impact
Increase academic success, enhanceretention and strengthen graduation rates through Student Experience Redesign
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Mason Impact
Undergraduate Research
CivicEngagement
Global Engagement
Entrepreneurship
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Great Lives, Great Careers
Robust, Scalable Student Care Network
Mason Impact
Inclusive, Thriving Communities
Student Experience Redesign
Enhancing the Mason Student Experience
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Fostering faculty excellence, scholarship and diversity• Increase full-time faculty lines to meet enrollment
needs and maximize research impact
• Increase faculty and staff compensation competitiveness
• Manage increasing competition for faculty talent with strategic retention resources
• Optimize organizational design and decision processes to support academic excellence
Thriving Together
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Innovation Engine
Sustain R1 research growth through strategic investments in faculty, research support, and infrastructure
Strengthen research impact via multidisciplinary institutes
Institute for Biohealth Innovation (IBI)Institute for a Sustainable Earth (ISE)Institute for Digital InnovAtion (IDIA)
Grow Tech Talent Degrees to meet the demands of our students, business community and the Commonwealth
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Recruit Faculty Innovators
Grow ResearchInfrastructure
Promote Translation& Commercialization
DevelopInnovation Workforce
3T Magnetic Resonance Imaging (MRI) System
Mason Institute for Biohealth Innovation
(IBI)
Mason Institute for a Sustainable Earth
(ISE)
Mason Institute for Digital Innovation
(IDIA)
Bioengineering Eminent Scholar Recruit
Innovation Engine
14
Mason Tech Talent Initiative
GEORGE MASON UNIVERSITY
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2014 FallCensus
2015 FallCensus
2016 FallCensus
2017 FallCensus
2018 FallCensus
UVA ODU VT GMU
TTI Bachelors Enrollment (HC)BS, Computer Science +
BS, Computer Engineering
Create Innovation District at Virginia Square
Establish 1st School of Computing in Virginia
Scale Online Learning
SVP ADMINISTRATION & FINANCE
New Leadership
• VP Human Resources & Payroll
• VP Finance• AVP Strategic Planning
and Budgeting• AVP Business Services• Director of Strategic
Real Estate Initiatives• Special Assistant for IT• Operations Manager
Strategic Planning
Framework
• Financial Health -Exceeding Financial Targets
• New Planning & Budget Process
• Enterprise Technology Assessment
Transformation
• Alignment of Department Goals with University Goals
• Value Mapping
• Service Delivery Model
• New Practice: Business Process Improvement
15
OPERATIONAL UPDATE
Access to Excellence
Thriving Together
Talent Ecosystem
Innovation Engine
Institutional Effectiveness
President’sGoals
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Arlington Innovation District
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CORE CAMPUS CONSTRUCTION PROGRESS IN 2019!
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Six-Year Capital Plan: 2020-2026PROPOSED PROJECTS FOR SUBMISSION TO DPB
FOR LEGISLATIVE CONSIDERATION
IDIA Institute for Digital Innovation Building & Garage (400,000 GSF) (PPEA)
GFNGFPPEATotal
$84M$84M$82M
$250M
Construct Academic VIII-STEM (200,000 GSF) GF $186M
Improve Telecom/Network Infrastructure – Phase IIGF
NGFTotal
$25M$20M$45M
Virtual Online Campus GF $11M
Renovate Planetary (S&T I) Hall (100,000 GSF) GF $75M
Renovate and Addition David King Hall(86,000 GSF, Reno: 60,000 GSF New) GF $94M
Renovate Fenwick Learning Commons Phase 2(90,000 GSF Reno; 35,000 GSF New) GF $57M
Central Plant Capacity Expansion GF $5M
Renovate Enterprise Hall (Reno: 100,000 GSF) GF $53M
PPEA Authority West Campus NA NA
PROPOSED PROJECTS FOR BOV APPROVAL ONLY UNDER HECONew Business School Building (200,000 GSF) NGF $165M
Activities Building (15,000 GSF) NGF $3.75M
PREVIOUS BOARD APPROVED PROJECTS UNDER HECO Renovations to Center for the Arts Concert Hall NGF $25M
FF&E DPB SUBMISSION FOR APPROVED PROJECTSRobinson Hall GF $11.32M
Telecom/Network Infrastructure – Phase I GF $1.25M
Total Six-Year Capital PlanGeneral Fund $602.57M
Non-general Fund $297.75M
PPEA $82M
20
Our Six-Year Operating Plan Aligns with Goals of Virginia Plan
21
Increase Student Financial Aid
Support In-state Enrollment
Growth
Support Salary Compensation
Increases
Support R-1 Research
Infrastructure
Mason Six-Year Operating Plan
Mason Priority
#1
Mason Priority
#3
Mason Priority
#2
Mason Priority
#4
Mason Six-Year Academic PlanMasonPriority
Mason StrategiesMason
FY 2021
General Fund
FY 2021
Mason FY 2022
General Fund
FY 2022
1 1. Provide Affordable Access for All Students $5.0M $5.0M $6.5M $6.5M
2 8. Support Salary Compensation Increases $8.5M $8.5M $8.9M $8.9M
3 2. Enrollment Growth & Degree Awards $10.0M $10.0M $12.0M $12.0M
4 11. Elevate Research -- $3.5M -- $3.5M
5 7. Support New Faculty Hires $5.0M $5.0M $6.25M $6.25M
6 9. Support Emergency Retention Funding $1.0M $1.0M $1.5M $1.5M
7 3. Student Success Initiatives $0.5M $0.5M $0.6M $0.6M
8 6. Accessible Pathways $0.6M $0.6M $0.6M $0.6M
9 4. New & Enhanced Programs $1.0M $1.0M $1.2M $1.2M
10 12. Research of Consequence -- $4.0M -- $4.0M
11 5. Online Degrees -- $0.5M -- $0.75M
12 10. Effectiveness & Efficiency $1.0M -- $1.0M --
Total $32.6M $39.6M $38.55M $45.8M
22Current year submission for Two-Year Biennium, FY 2021 – FY 2022
FINANCIAL OVERVIEW
?
?Mason’s Financial Planning will Address Critical Questions
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OFFICE OF STRATEGIC BUDGETING AND PLANNING
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A renewed dedication to Transparency, Accountability & Responsiveness will transform how we engage with our university partners in support of the University’s strategic academic, research and outreach mission.
IMPLEMENT
MONITOR
REPORT
PLAN
~Strategic Objectives~
To support the University’s vision and mission that simultaneously sustains established priorities with a dynamic and nimble response to strategic opportunities;
To ensure that all systems, policies and practices align to optimize resources in support of university priorities.
~Core Values~
Operational Excellence
Integrated Planning & Budgeting
Financial Sustainability
Budget Focus Areas: The engagement identified five key focus areas related to the budget and planning process at George Mason that incorporate people, processes, and technology.
I. Organizational Structure
II. Inclusivity and Accountability
III. Reporting and Transparency
IntegratedBudget and
Planning Process
IV. Integrated Budget Process
V. Budget Tool -Requirements
Mason Recently Completed a Review of Budget Practices
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As George Mason initiates changes for integrated budgeting and planning, theimplementation roadmap will address each of the identified focus areas.
Financial Framework Provides The Bridge From Strategic Plan To Operating Budget
Strategic Plan-Based Key Initiatives
Entity/Unit Level/ Other Group Planning with
Specific Initiatives
High-level business planning with operating and
capital requirements
Existing operations
Resources available
Financial Plan
Str
ate
gic
Pla
n
Ad hoc Planning
High-level business planning, or quantification ofthe Strategic Plan through identified initiatives, isthe critical link to the Financial Plan
26
Enterprise Risk Management incorporated into business planning and existing operations.
Operating targets establish performance levels necessary to achieve or maintain credit quality while generating cash for GMU’s strategies
These targets provide a framework for evaluating plan projections, options to resolve any cash flow gap, and related sensitivity analyses
*Medians for peers and Moody’s are based on FY18 audited financial statements.
New Financial Framework
RATIO Moody’s* MASON
Aa3 Aa2 FY 2018 Target
Operating Cash Flow Margin 10.3% 11.3% 17.5% 11.0%
Operating Margin 2.1% 3.3% 8.7% 3.0%
Debt Service to Operations 4.4% 4.0% 7.0% 4.2%
Spendable Cash & Invest / Operations 0.7 0.7 0.7 0.7
Average Annual Debt Service Coverage 2.7 2.9 2.4 2.8
Spendable Cash & Invest / Debt 1.4 1.3 0.9 1.3
Total Debt to Cash Flow 5.1 4.7 4.0 4.9
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SVP OPERATIONS
Human Resources &
Payroll
Information Technology
ServicesFacilities and
Campuses
Fiscal ServicesStrategic Planning & Budgeting
Business Services
University PoliceSafety,
Emergency & ERM
Strategic Real Estate
Capitol Connection
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Value Map& Benefits
Vision, Mission,
Principles: Creation &
Update• Understand the benefits your department provides to customers.
• Focus on Benefits not Attributes, i.e.: “Customer will gain THIS BENEFIT because of our ATTRIBUTES.”
• Measures, goals, priorities, and activities are aligned with priorities (at all levels) and desired results.• Success measures and related operational decisions and processes are driven by timely, accurate, and meaningful data.
Strategic Planning FrameworkOffice of the Senior Vice President
University Consulting / BPI
Priorities Goals Initiatives Review
Strategic Plan Evaluated
Periodically to Ensure Continued
Relevance To University,
Finance, and Customers
1 to 3-Year Strategies &
Priorities
1-3 Strategic Goalsfor Priority #1
1-3 Strategic Goalsfor Priority #2
1-3 Strategic Goalsfor Priority #3
Initiatives (1-3)related to each Goal
Initiatives (1-3)related to each Goal
Initiatives (1-3)related to each Goal
University GoalsAll Other Plans Must Align
Office of the Senior Vice President GoalsAll Plans Below Must Align
Process for developing Strategic Business Plans for each Department
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Value Mapping Process
Enterprise Technology Assessment
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• Overarching Vision for ITS
• Quality Management System
• Additional Resources
• Process Documentation and Automation
HUMAN RESOURCES REORGANIZATION
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“As the needs of the university continue to change and grow in complexity, I recognize it is imperative that HR & Payroll be equipped to provide a higher standard of service, be more responsive to customer needs, and operate with greater agility.”
Lester L. Arnold, Sr., SPHR-SCP, SPHRCHRO | Vice President for Human Resources and Payroll
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FINANCIAL DASHBOARD PILOT
0.0M
0.1M
0.2M
2016 2017 2018 2019
150K 150K 150K 150K
150K 150K 150K 150K
Graduate
0.3M
Enrollment Graduate and Undergrad by Fiscal YearUndergrad
DRAFT Working Model
0bn
1bn
2bn
3bn
4bn
5bn
01 Revenue 02 Expense
4.0bn 4.0bn4.0bn 4.0bn
4.0bn 4.0bn
Budget
Budget vs. Actual Fiscal Year EndActual Budget Target
Colle…
4K
Space Planning and Facilities by Fiscal YearOrg 3 Colleg… Colleg… Colle… Colle… Colle… Interdi…
Volgenau School of Engi… Schar School of Policy a… College of Science
4K 4K 4KSchool of Business Interdisciplinary Progra… College of Humanities a…
4K 4K 4KSchool for Conflict Analy… College of Visual and Pe… College of Health and H…
4K 4K 4K
Pre-Award Grant and Research Activity by Fiscal Year
Fiscal # of # of PI # ofYear Proposals Sponsored/
Non–Sponsored
2018 6 3 722017 4 2 482019 4 2 482016 3 1 24Total 17 3 192
Page FilterOrg 3: All
Select all
College of Education and H…
College of Health and Human Servi…
College of Humanities and …
College of Science
College of Visual and Performing A…
Interdisciplinary Programs and C…
Schar School of Policy and Gover…
School for Conflict Analysis and Res…
School of Business
Volgenau School of Engineering
**vendor prototype using generic data**
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Students by Ethnic Background and 2023 Forecast
0K
10K
20K
30K
40K
3K 3K 4K 4K 4K 4K4K 4K 4K 5K
2014 2015 2016 2017 2018 2019 2022 2020 2021 2023
7K6K 7K6K 6K 7K 7K 7K5K 5K3K
5K5K4K 5K
4K 5K 5K 5K4K
19K
16K 16K17K
16K17K
16K16K 17K 18K
African Am
Asian Am
Hispanic Am
Native Am
Pacific Islander
Race Not Reported
White Am
Two or More
DRAFT Working Model
0K 50K 100K
10K 10K 10K 11K 11K 11K 12K 12K 12K 13K
New Students by Fiscal Year and 2023 Forecast2014 2015 2016 2017 2018 2019 2020 2021 2022
ENG 105 ENG 109 ENG 113 ENG 117 ENG 1
1
1
1
1
1
1
1
1
Course SchedulesSchedule ENG101
M -W 1
TU -TH 1
Total 1 1 1 1 1
14K
16K
18K
20K
22K
24K
2015 2014 2016 2017 2018 2019 2022 2020 2021 2023
18.1K
23.0K
20.4K
19.3K
21.0K
18.8K19.8K
20.8K21.6K
18.2K
20.5K
15.6K
18.2K
16.9K
18.8K
16.4K
17.7K18.6K
19.3K
Students by Ethnic Background and 2023 ForecastFemale Male
0K
10K
20K
30K
2014 2015 2016 2017 2018 2019 2022 2020 2021 2023
22K 23K 24K 25K 26K 27K 27K 28K 28K30K
12K 11K 11K 11K 12K 12K 12K 12K 13K 13K
Full-Time and Part-Time and 2023 ForecastFull-Time Part-Time
Page Filter
Select all
College of Education and H…
College of Health and Human Servi…
College of Humanities and …
College of Science
College of Visual and Performing A…
Interdisciplinary Programs and C…
Schar School of Policy and Gover…
School for Conflict Analysis and Res…
School of Business
Volgenau School of Engineering
Org 3: All
**vendor prototype using generic data**
INCREASING EFFICIENCIES & EFFECTIVENESS
34
University Business ConsultingA small management consulting-style team
serving the Mason Community
Partner with colleges, units and leadership
Business Practice Improvement (BPI)
Achieve goals
Drive new initiatives Thoughtful problem solving
THANK YOU!
35
Q&A