Strategy 3 Stories: Securing Our Financial Future | Kent State University

Strategy 3 Stories: Securing Our Financial Future

3. Develop cost reduction strategies and budget efficiencies.

The narratives below define and bring clarity to what each of the University Strategic Goals means to Academic Affairs. The narratives express our values and beliefs, and create a context to guide implementation efforts. To learn more about the specific strategies and tactics involved in securing our financial future, please view our Academic Affairs Strategic Plan.

KSU submits summary of efficiencies to the state

Dr. James Boyd, professor of finance, benefits from the advanced technology in the Vaughn Hoover Executive Classroom while teaching a finance class in the College of Business.

In response to a state mandate, KSU submitted a comprehensive list of financial savings due to enacting various efficiencies. Significant efficiencies were realized through strategies such as increasing course caps, merging departments, reducing travel costs with skype and video conferencing, consolidating small sections, adding online sections, and sharing positions across multiple departments. Due to these changes, the university has realized a savings of $4.6 million annually.

Academic Affairs support unit budgets are evaluated annually

A view of Kent State University from the northwest corner of campus.

To ensure “lean and mean” administration in Academic Affairs, non-academic administrative budgets are annually reviewed. Any new request for monies must be approved directly by the Provost providing additional scrutiny on planned and existing initiatives. This also enables the Provost to know where there is additional financial capacity to fund new initiatives.

New Statistics Course created to fulfill math requirement for some programs

Students at the Stark campus work on math problems in class.

Kent State created a statistics course that is accessible to students with a basic knowledge of algebra. By making this course available on a large scale, the need for algebra remediation at Kent has been reduced by more than 50%. The course will be taught in a state-of-the-art Scale-Up lab that emphasizes active and collaborative learning with extensive access to technological support, fully consistent with the American Statistical Association's GAISE guidelines.