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.

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.

Securing Our Financial Future
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