Trinity University announced May 18, 2012 that financial management leader, Gary Logan, has been named Vice President for Finance and Administration.
Logan, a certified public accountant, will serve as Trinity’s chief financial officer, providing leadership in the areas of budgeting, endowment management, purchasing, facilities services, human resources, and campus police, among other duties. Continue reading
With the state of Kentucky in the spotlight this week for the 138th running of the Kentucky Derby, we felt that it was only right to spotlight the greatest event in Kentucky outside of the Derby, the College Business Management Institute. This year, CBMI will be celebrating its 60th anniversary! Since the beginning of the program in 1953, CBMI has continued to offer the best holistic training on higher education found in the nation. Boasting over 40 faculty members, some of which are presidents of colleges and universities, and nearly 50 different session offerings, CBMI is proud to continually offer a top notch program, revered by many. In racing terms, CBMI is the Churchill Downs of conferences.
And this is where you come in! Registration is officially out of the gates. You don’t want to place or show, you want to win, and the best way to ensure that is by attending the 60th anniversary of CBMI held at the University of Kentucky this summer, July 29 – August 3. We’re counting on you to be the frontrunner and register for CBMI, today!
The 2011–12 SACUBO year, has been outstanding! We have had a lot of success in our many professional development activities. On behalf of your Board, I am pleased to report the following outcomes for the year:
College Business Management Institute, in conjunction with the University of Kentucky had 539 participants
It’s no secret that our economy is struggling. Some have even called it the “Great Recession.” As we start to see signs the economy is recovering, are you ready to recover with it?
According to the 2012 State Higher Education Executive Officers Association study, “nationally, FTE enrollment grew 17 percent in the past five years. All fifty states have experienced increases in FTE enrollment since 2006, and total public FTE enrollment increased by 33 percent from 2001 to 2011. This trend continued in the most recent year, with a national increase of 275,000 students, or 2.4 percent above 2010.”
We know that in times of economic difficulties enrollment increases. However, nationally, state and local funding for higher education has not increased to the same level. Therefore, the dollars per student have decreased. “Dollar per student state and local funding for public colleges and universities continued to decrease between 2010 and 2011. State and local support (excluding appropriations for research, agricultural extension, and medical education) per full -time-equivalent student was $6,532 in 2010, a $500 constant dollar (or 7 percent) decrease from 2009, and the lowest in the last 25 years. This trend continued in 2011 with state and local support per FTE at $6,290, an additional 3.7 percent decrease.”
What does that mean?
For the past several years Higher Education has faced numerous challenges. As the economy worsened pressure to reduce budgets increased. With an average of nearly 30% of your revenues coming from state and local resources, any variance from year to year can have a major impact.* This could mean an increase in tuition, the reduction of course offerings or even elimination of some majors. In the competition for students this is unacceptable.
Un-mined gold
Have you thought about your printing costs? Industry analysts strongly recommend seeking real and more immediate cost savings in Office Output Management. Research findings indicate that you will spend between 1% and 3% of your annual budget in this area. What if you could save 10 to 30% in the first year alone. Let’s do some simple math. If you have an annual budget of $1 billion and you spend 2% on printing, that is $20 million. Saving even 20% is a $4 million savings. Think of the programs you could create. The second and third year can deliver even more savings when you employ a holistic approach to your document processes.
With Xerox Managed Print Services we can reduce your printing costs 10 to 30%. Read how we saved the University of Notre Dame 20% on supplies costs and reduced their paper waste by 60%.
Optimizing office technology across your organization represents enormous opportunity for savings and efficiency. Across a campus system, this can equate to millions of dollars of waste and inefficiency…funds that could be spent on students, faculty and academic programs.
Post Submitted by Ed Driscoll, Xerox Corporation
Arkansas State University-Newport is pleased to announce the recent appointment of Adam Adair to the position of Vice Chancellor for Fiscal Affairs. His duties will include oversight of budgets, financial planning, accounting, Human Resources, IT, and facilities management. Continue reading
Now more than ever, higher education officials must think strategically about the future of their institutions; today’s economic and regulatory landscape is changing rapidly. The professionals at Grant Thornton LLP closely monitor emerging trends that influence the financial outlook at colleges and universities. Following are what we believe to be the top 10 business imperatives in higher education.
10. Staying abreast of the changing regulatory environment
Legal and regulatory requirements affecting higher education institutions are constantly in flux. Colleges and universities need to have reliable and consistent processes in place for identifying and complying with applicable laws and regulations. Most audit committees now see monitoring compliance as a key responsibility. One way to stay current is to read Grant Thornton’s publications, especially our regulatory alerts and accounting updates, which are delivered electronically. Continue reading
Project will upgrade building systems, lighting, and more across campus facilities
The University of Louisville is moving quickly to achieve a greener, more sustainable future with the help of a comprehensive, $46 million two-phase energy savings performance contracting project delivered by the Building Technologies Division of Siemens Industry, Inc. The campus-wide effort, among the largest of its kind in the region, is on a fast track—one that, when finished, will significantly lower its overall carbon footprint and realize enough energy savings to reduce equivalent energy costs by more than $4.4 million annually.
Grawemeyer Hall
If you would like to learn more – please stop by the Siemens exhibit, #201, during the upcoming SACUBO Annual Meeting.
Post Submitted by Michael Azzara, Siemens Industry, Inc.
Across higher education, administrators are facing unprecedented challenges concerning the viability of higher education. The umbrella of financial stress overshadows the entire industry, with public funding waning and tuition discounting surpassing sustainable levels.
What are successful institutions doing to weather the storm? For business officers, a resource exists highlighting some of the innovations institutions are employing. “Strategies to Address the Rising Cost of Higher Education” is the current theme of Presidential Perspectives, the leading higher educational thought leadership series. Published by ARAMARK, this series focuses on the innovations, best practices, and strategies that colleges and universities are embracing to address the rising cost of higher education. Continue reading
Don’t miss out on this outstanding opportunity to receive up to 16 CPE credits! The 2012 SACUBO Annual Meeting will be held April 22 – 24 in Louisville, KY and will coincide with one of Kentucky’s most action packed events Thunder over Louisville. The early bird registration discount will only be available through March 30. Register Now!
CHARLES A. TEGEN APPOINTED TO THE
GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL
Charles A. Tegen, Comptroller for Clemson University in South Carolina, SACUBO past President and upcoming NACUBO Board Chairman, has been appointed to serve on the Governmental Accounting Standards Advisory Council (GASAC). The 30 member GASAC provides input to the Governmental Accounting Standards Board (GASB), the independent, not-for-profit Board that establishes and improves accounting standards used in U.S. state and local governmental accounting and financial reporting.
Nominated to the GASAC post by the National Association of College and University Business Officers (NACUBO), Mr. Tegen has been in his current role since 1991. Prior to that, he has served Clemson inthe finance and internal audit areas. Before joining Clemson, he wasa senior auditor with a local public accounting firm. Mr. Tegen currently serves on the NACUBO Board of Directors. He was awarded the organization’s Daniel D. Robinson Award in 2004 which recognizes excellence and leadership of an individual who demonstrates a continuous commitment to the advancement of college and university accounting and reporting.
In his role with the GASAC, Mr. Tegen joins other members who are broadly representative of preparers, auditors, and users of financial information. The GASAC is responsible for consulting with the GASB on technical issues on the Board’s agenda, project priorities, matters likely to require the attention of the GASB, selection and organization of task forces, and such other matters as may be requested by the GASB or its chairman.
“Charles Tegen’s experience as a comptroller and auditor in the public university system makes him an ideal and welcome addition to the GASAC,” states Robert H. Attmore, Chairman of the GASB. “His expertise and perspective will be an asset to the Council, and we look forward to working with him.”
Mr. Tegen’s term on the GASAC extends until December 31, 2013.
