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Improving board capacity for strategic financial oversight

Improving board capacity for strategic financial oversight . Jane V. Wellman AGB Consultant for Strategic Finance Indiana Trustees Academy August 30, 2010 . The changed context. Challenge to increase degree attainment Structural shift away from public funding

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Improving board capacity for strategic financial oversight

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  1. Improving board capacity for strategic financial oversight Jane V. Wellman AGB Consultant for Strategic Finance Indiana Trustees Academy August 30, 2010 Association of Governing Boards

  2. The changed context • Challenge to increase degree attainment • Structural shift away from public funding • Greater tuition dependency, risks low-income access and success • Rising public skepticism about college and university values – and value • “Fractured dialogue” between college presidents, the public, policy makers, and faculty • Unsustainable revenue/cost gap Association of Governing Boards

  3. US - Estimating the attainment “gap” Using a 60%/25-34 age group attainment goal Association of Governing Boards

  4. 80% of national ‘gap’ occurs in these 20 states Association of Governing Boards

  5. Gaps in state financials could approach 7% of spending on AVERAGE - “The Lost Decade” of state funding Source: Don Boyd (Rockefeller Institute of Government), 2009 Association of Governing Boards

  6. Association of Governing Boards

  7. Our Revenue Model is Not Sustainable Association of Governing Boards

  8. Outside inside: the fractured dialogue about college costs and the road ahead Association of Governing Boards Source: John Immewahr, Villanova University, based on research for Public Agenda.

  9. The view from the outside: growing public critique about spending priorities Association of Governing Boards

  10. Changing the value proposition Association of Governing Boards

  11. The evolving Board role Association of Governing Boards

  12. Board tools for improving a focus on value • Be explicit about attainment goals • Set the agenda for continuous attention to investments in value: spending, efficiency and effectiveness • Support establishment of institutional process for doing the deeper work • Adopt appropriate metrics for benchmarking spending and performance to measure changes over time • Communication! Internal as well as external Association of Governing Boards

  13. Setting the agenda • Process is key: Board needs to find ways to focus the work and bridge gaps between internal and external audiences • Work with the President to frame the agenda and set goals for aspects of the work • Frame the work in positive and not punitive ways • Look for evidence of progress in meeting goals • Continuous attention to documentation and communication Association of Governing Boards

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