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Opening of Campus Presentation

Elizabeth Mauch, Ph.D.

President

August 17, 2021

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2021-2022 Priorities

  • Strategic Leadership
  • Grow Financial Stability
  • Raise Visibility and Resources
  • Strengthen Organizational Effectiveness

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Strategic Leadership

  • Develop a new strategic plan whose goal is to raise our visibility and resources around the concept of Path to Your Purpose
  • Board approval by May 2022 (prior to graduation)
  • Continue to pursue social justice initiatives on campus, with a focus on racial equality

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Grow Financial Stability – Budget Numbers

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FY22**

FY21 (EG2)*

FY20

FY19

FY18

Annual Operating Revenues

$19.1

$17.4

$18.4

$16.0

$15.3

Annual Operating Expenses

$16.5

$16.2

$15.9

$15.3

$16.1

Depreciation

$1.7

$1.6

$1.5

$1.3

$1.4

Repayment to the Trust

$0.8

$0.4

$0.4

$ -

$2.6

Loss on disposal of assets

$ -

$ -

$(0.1)

$0.2

$-

TOTAL

$0.1

$(0.8)

$0.7

$(0.8)

$(4.8)

All figures in millions of dollars

*EG2 figures

**Base Budget

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Grow Financial Stability – Bethany Trust

Bethany Trust consists of assets held by Bethany and held by outside managers.

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Assets held outside the Trust consist of approximately $2.7 million. Bethany receives approximately $150,000 of funds each year that are deposited into our annual fund at various times throughout the year.

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Financial Stability – Trust Balances

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June 30, 2021

June 30, 2020

June 28, 2019

People’s Bank Balance

$760,250.79

$875,661.58

$530,031.89

Creative Planning Balance

$5,024,487.65

$3,376,174.21

$3,453,655.94

TOTAL

$5,784,738.44

$4,251,835.79

$3,983,687.83

Percentage increase from 6/28/19 to 6/30/21 = 45%

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Grow Financial Stability – Foundations/Grants

  • Roubach - $42,600 for organ in Chapel
  • Kansas Leadership Center – Leadership Transformation Grant
  • Mabee - $1,000,000 (match grant/for residence hall + classroom upgrade)
  • Sunderland - $1,000,000 for residence hall + classroom upgrade
  • Osher Foundation - $25,000 Annual Scholarship Fund

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Grow Financial Stability – Foundations/Grants

  • Smoky Valley Community Foundation - $2,995 Mabee match
  • Earl Bane $150,000 Good Life Scholarships
  • Mingenback $25,000 Mabee match
  • Joscelyn Foundation $10,000 Mabee match

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Financial Stability – Other Important Numbers

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FY20

FY19

FY18

Net Student Revenue

$12,565,170

$11,846,726

$11,434,106

Net Student Revenue per FALL FTE

$16,621

$15,754

$16,127

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FY20

FY19

FY18

Operating Expenses + Depreciationin millions

$17.4

$16.6

$17.1

Net Student Expense per FALL FTE

$22,984

$22,035

$24,223

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Financial Stability – Debts

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June 30, 2021

June 30, 2020

People’s Bank Line of Credit Balance

$(539,318)

$(552,637)

USDA Balance

$(20,484,710)

$(20,965,428)

TOTAL

$(21,024,028)

$(21,518,065)

We owed $494,037 LESS this June 30!! And, we paid down nearly $500,000 in debt!!

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Financial Stability – Goals For FY22 (p. 1)

  • Ensure operating budgets contain the resources to meet the mission (Goal: Balanced FY22 budget)
  • Create a Trust (Endowment) strategy that is sufficient to maintain and grow enrollment (Goal: Increase amount in Trust = People’s Bank Balance + Creative Planning Balance by 7.5% in FY22)
  • Create methodical process for improvement of physical plant (Goal: Commence campus master plan in FY22)

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Grow Financial Stability – Enrollment Numbers

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2021-2022*

2020-2021

2019-2020

2018-2019

2017-2018

NEW FRESHMEN:

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General Students

21

18

15

24

25

Student Athletes

205

158

167

171

180

Good Life

40

45

63

96

74

TOTAL FT ENROLLMENT (fall)

710

737

753

751

709

FTFT Freshmen Retention

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56.3%

58.4%

48.7%

57.1%

*Estimate

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Financial Stability – Goals For FY22 (p. 2)

  • Grow and develop pipelines to increase number of general students (Goal: Increase enrollment to 775, Increase “general” students to 40, Maintain “Good Life” numbers at 40 new students for FY23)
  • Continue retention efforts. Continue to invest in Ascension Program, Develop financial literacy program for students, Refine Day 1 program, Launch Athlete’s Lab, Develop EBEs. (Goal: Increase FTFT retention of 60%. (Freshmen to sophomore))
  • Increase net student revenue
  • Annual fund goal: $1.8 million (this will be a stretch)

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Raise Visibility and Resources

  • Launch Path to Your Purpose marketing campaign
  • Launch Path to Your Purpose initiatives. The purpose of the Program is: To develop students who feel that they are responsible for making valuable contributions in the world by working together in service to one another which will build character, deepen relationships, improve the quality of life, and bring meaning to life. The Path to Your Purpose initiative will measure its success by the quality of the work that its graduates achieve.

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Strengthen Organizational Effectiveness

  • Work with Board and Trust to continue to develop a quality Board of committed men and women who understand higher education.
  • Continue plan of improving faculty and staff retention. (salaries, faculty/staff development, faculty/staff advancement on campus). This will be advanced by continued collaborations with Faculty Senate and Staff Senate. 

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Committees this Year

  • Strategic Planning
  • Facilities
  • Budget Advisory

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Questions?