Core Strategy 5

Intentional revenue viability

Expand revenue sources to strengthen financial sustainability

The charge of the fifth core strategy in the UCCS 2030 Strategic Plan is to expand revenue sources to strengthen financial sustainability. In doing so, UCCS aims to improve student affordability and access.

 

Explore the latest news and updates following a November Chancellor's Town Hall regarding a proposed new budget model that will support the new Strategic Plan.

A DEEP DIVE: STRATEGY 5

 

 

 

Brooke Koenig Allen
"This core strategy is critical to student affordability"
“UCCS is an asset to the Colorado Springs community, southern Colorado and the state. This core strategy addresses not only the long-term financial success of UCCS, but also the critical component of affordability to students and families. By pursuing these two points, our efforts are focused on ensuring that UCCS remains an asset for decades to come.”
Brooke Koenig Allen jumped at the opportunity to be involved with the core strategy on revenue diversification and affordability.
According to Koenig Allen, Program Manager of Processing for Financial Aid, “This core strategy is critical to student affordability and broader, untapped funding streams that are independent of tuition revenue and state funding.”

Our groups

After Chancellor Venkat Reddy’s Town Hall sessions in March, faculty, staff and students formed and joined working groups for each of the plan’s seven core strategies. Core Strategy teams were tasked with identifying the priorities, initiatives, anticipated outcomes and measures of success for each of the strategic themes. 

This core strategy working group was championed by Chuck Litchfield, vice chancellor for administration and finance. Elissa Unger, associate director of development, and Brooke Koenig Allen, program manager of processing for financial aid, served as team leads. Faculty, staff and students rounded out the group. 

Outcomes

By strengthening and expanding revenue sources, the core strategy working group envisions the following outcomes: 

  1. Planning and implementation of incentive-based budget model.
  2. Cultivating, building and increasing strong, steady streams of revenue from a more diversified collection of sources.
  3. Improving student affordability and access within all student populations.

Measures of Success

As the strategy moves into implementation, the core strategy working group will measure success by the following criteria: 

  1. Implement an incentive-based budget model within three years.
  2. Decrease the percentage of education and general expenses budget funded by tuition.
  3. Increase institutional aid streams, measured by both dollars and head count.
  4. Increase the total share of budget provided by other sources.

Initiatives 

To translate vision into practice, the core strategy working group recommends the following initiatives: 

  1. Restructure tuition tables to an activity-based model.
  2. Commercialization of partnerships and undeveloped campus lands.
  3. Shared service agreements.
  4. Decreased cost to students through outside means, such as third-party payments, internships and new scholarship opportunities.
  5. Research funding that increases indirect cost recoveries and decreases base funding.

Feedback

With a draft strategy in place, there are limited opportunities for further refinement. Campus community members with thoughts on how to fine-tune the existing strategy are welcome to submit feedback, which will be passed to the designated Core Strategy team for review.