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The Association of Independent Kentucky Colleges and Universities is required by statute to make an annual report to the Council on Postsecondary Education. This presentation was delivered by AIKCU President Gary S. Cox, along with AIKCU Board Chair John Roush (Centre College President) and Vice Chair Bill Huston (St. Catharine College President) at the 9/10/09 CPE meeting in Bowling Green Kentucky.
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Kentucky’s Independent Colleges and Universities The Association of Independent Kentucky Colleges and Universities
Gary S. Cox, Ph.DPresident
(502) [email protected]
http://aikcu.org
0
100
200
300
400
500
600
700
800
Institutional Expenditures Capital Expenditures
Direct Indirect
Annual Economic Impact of Kentucky’s Independent Colleges and Universities = more than $1.48 billionTotal economic impact (in millions), by spending category
Source: Private Colleges, Public Benefits: The Economic and Community Impact of Kentucky’s Independent Colleges and Universities on the Commonwealth of Kentucky. Human Capital Research Corporation, 2006. http://www.aikcu.org/wp-content/uploads/2007/08/Private%20Colleges,%20Public%20Benefits%20-%20AIKCU%2011-1-06.pdf
Kentucky’s investment in AIKCU studentsis less than 4% of total state postsecondary spending
86.7%
9.4%
3.9%
Other postsecondary spending:$1.17 billion
Non-AIKCU student aid: $127.5 million
AIKCU student aid: $52.3 million (AIKCU KTG: $28 million, or 2.2%)
Sources: 2007-08 postsecondary budget data - CPE2007-08 KY Student aid lottery funded program (CAP, KTG, KEES) data - KHEAA
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$25,143
$21,773
$17,256
Kentucky South National
Source: AIKCU 2008 Tuition Survey; College Board’s Trends In College Pricing 2008
Average 2008-09 Independent College Published Tuition and Fees (Note: very few students at independent colleges actually pay this “sticker price” after financial aid is factored in.)
State financial aid to AIKCU students through Kentucky’s “big three” aid programs (CAP, KTG, and KEES) totaled $52.3 million in 2007-08, up from $11.9 million in 1997-98.
$0
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008KTG CAP KEES
Source: KHEAA
State financial aid to independent college students, 1998-2008
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$6,217
$3,503
$3,868
$7,697
Avg. Institutional aid Avg. State aid Avg. Federal aid Avg. Student share
Average Kentucky independent college costs and financial aid awards by source, 2006-07
Sources: Aid Data: Integrated Postsecondary Education Data System (IPEDS), 2006-07. First-time, full-time student cohort; Tuition: AIKCU 2006-07 Tuition/Fees Survey; Room/board: IPEDS, 7 campuses reporting an average of $6040.
AIKCU Average total 2006-07 costs = $21,285 (Average tuition = $15,245; Estimated average room/board = $6,040)
$0
$4,250
$8,500
$12,750
$17,000
AIKCU Public Universities
$16,963$16,663
Average Debt of Graduates, 2007
Source: ProjectOnStudentDebt.org. Debt data as reported by campuses to Peterson’s Undergraduate Financial Aid and Undergraduate Databases. 17 of 20 AIKCU campuses and 7 of 8 Kentucky public university campuses reporting data.
Independent colleges promote timely graduation
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4 years 5 years 6 years
Percent of first-time, full-time students who graduate in...
AIKCU KY Public Universities
Source: IPEDS, Fall 2000 GRS Revised Cohort of first-time, full-time bachelor’s degree seeking students
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
30,41129,041
27,44026,90826,15125,53225,25224,76423,83623,206
AIKCU Total Headcount Fall Enrollment, 1999-2008
Source: CPE Comprehensive Database
0
1,050
2,100
3,150
4,200
99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08
4,1913,8813,8013,9023,779
3,5553,5753,271
3,453
AIKCU Bachelor’s Degrees, 2000-2008
Source: CPE Comprehensive Database
AIKCU enrolls about 19% of KY’s bachelor’s degree seeking students and produces 22% of bachelor’s degrees.
Growth in transfer from KCTCS to AIKCU
0
275
550
825
1,100
99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08
1,093
938926
583514
402365351358
Source: CPE Comprehensive Database
How are AIKCU members changing to deal with
current economic realities?
We asked, and the list is long
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ASSOCIATION OF INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES
REPRESENTATIVE COST SAVINGS ACTIVITIES
September, 2009
MANAGING PERSONNEL COSTS
• Staff right sizing
• Faculty hiring deferrals
• Non-Faculty staff hiring postponements
• Salary Freezes
• Reduced paid faculty overloads
• Reduce utilization of adjunct faculty
• Placed full time faculty members in overload (without additional compensation) to cut
adjunct salary expense
• Employee Furloughs and Voluntary Salary Cuts
• Reduce Fringe Benefits
• Manage Effective Development and Marketing Strategies
SHORT & LONG RANGE PLANNING
• Postpone Capital Spending
• Regular financial update and suggestion sessions across campus, with students, with
faculty, and with staff
• Promoted efficient utilization of college health insurance benefits
• Added a winter term in January (increased revenue)
• Working smart by making more phone calls and less travel.
• Mountain Outreach – Plans to build only 2 homes next summer.
• For Church Relations/Alumni/Media Relations/Student Services – No unbudgeted
expenditures
• Reducing and/or controlling expenditures in Business Services such as: purchased 4
busses instead of 8 as originally budgeted
• Refunded bonds saving about $700K in total over next 10 years.
• Reworked physical plant staffing schedules by staggering shifts (reduced overtime
saving approximately $100K per year)
• Signed contract with eCampus.com to sell textbooks, spirit items on-line
• Analysis of the Spirit Shop to increase sales, improve quality, launch internet sales
• Change accounting system to improve communication and efficiency
• Planning for summer housing for next summer
• Working with agencies to do international recruiting therefore cutting out some
international travel.
• New endowment spending formula provides a more stable return to keep tuition
increases minimized
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• Combine 2 full-time office positions into one (Business Office and Registrar)
• Reduced faculty professional development funding and professional memberships
• Suspend TIAA CREF match
• Departmental operating budget reductions
• Renegotiated physical plant contract
• Installed water saving devices in residence halls
• Promoted more efficient utilization of utilities (lights, equipment, etc.)
• Reduced A/C and heating levels in buildings
• Strategically utilized technology tools and programs to reduce postage costs
• Re-negotiated contracts to effect savings in telecom services and hardware
maintenance
• Reduced printing costs by limited publications and/or size of pieces
• Initiated student printing controls with charges for excessive pages printed on college
systems
• Networking printers in offices.
• Careful monitoring of accounts receivables
• Renegotiated student athletic insurance contract
• Delayed upgrading academic instructional technology and health sciences
• Reduced credit card usage and carriers – only business office, President and
Advancement
• Changed purchasing procedures – CFO to review each check request and
P.O./President to review purchases over $500.
• Dining hall savings from eliminating trays (water)
• Utilizing student labor as much as possible; this helps the students and helps to control
costs.
• Work study done at the same place as presidential work.
• Maximized utilization of additional federal and state student scholarship funds (Yellow
Ribbon, etc.)
• Awarded over $10 million in scholarships for 2008-09 academic year, and over
$11,500,000 for 2009-10
• Working with students to apply for loans
• Maximize Student Financial Aid Opportunities.
• Consolidating scholarship offerings to award only academic and athletic scholarship
except for students in our service area who may be eligible for an additional scholarship
based on need
• Semester of free tuition for unemployed workers
• Gold incentive program for returning students, early registration and filing FAFSA
• Yellow Ribbon program for veterans
• Multicultural Scholarship $1,500 a semester for full time students
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• Allowed our discount rate to rise slightly.
• Waived admissions fees for adult programs.
• Tuition rates for summer classes reduced by 50 percent
• Waived tuition for seats in classes that had not been filled for those recently unemployed
• Placement helped students in partners with “Let’s Go 2 Work.” The program provided
16-24 year olds, several in college family, with six-week summer jobs at local
businesses and organizations using American Recovery and Reinvestment Act funds to
pay their salaries
• Lowest Tuition increase in 20 years
ACADEMIC CREDIBILITY
• Maintain goal of low student/faculty ratio
• Concentrating on student retention and graduate recruiting.
• Tuition/room/board rates were frozen at 2008-2009 levels.
• Three-hour courses offered free to unemployed adult learners.
• Offering job fair and student placement services regularly in community
Questioning and evaluating everything...
• Operations
• Personnel and staffing
• Administrative costs
• Tuition and aid policies
• Strategic plans
You can count on me wearing you out with ideas and questions - some of them tough ones - about how we conduct our business.
Centre College President John Roushin a recent address to faculty and staff
...except fundamental commitments to
• supporting students
• academic integrity
• individual missions
AIKCU: Building strength through collaboration
• Business partnerships for cost containment and increased efficiencies: office supplies, insurance, information technology, fuel, many more
• Resource and information sharing
• Low cost professional development
• Relationships with public institutions (KCTCS transfer, KYVL, MoSU-EKU-AIKCU project, etc.)
Issues and opportunities: How can CPE work with AIKCU to maximize state resources, maintain quality and diversity, and further the Public Agenda?
•Support student financial aid•Ensure quality•Recognize and value contributions of independent sector•Encourage innovative collaborations
