Grades are in? Financial Aid is awarded? Students are enrolled? Are we ready for a long winter’s sleep? I think the answer to those questions is Yes, No, No, and YES!! Thanks to those working around the clock to help get things running for Winter Quarter.
As promised, I have attached HERE a summary of the Coffee for Three ideas. With over 100 individual ideas, I tried to categorize the best I could. The executive team will review the detailed suggestions starting in Winter Quarter. I plan to repeat the process in 4 years…I’ll start calendaring now. =)
This week was a flurry of activity in the President’s Suite, as I am sure it was in other offices. We worked on the DIA for January (more about that next quarter), we agreed to host a small gathering to determine how to help a Bothell company meet their workforce needs for a 1000 employee expansion, and I started on an 8-month research project approved last week by the Trustees.
The research projects goes like this: I will be spending the next few months interviewing city administrators in our district, and then hosting a half-day business leader summit, and then hosting a half-day legislative summit in order to develop revenue ideas that will help us meet our expenses. Our expenses are rising at a faster rate than our revenues. Since we do not control our revenue (legislative funding and tuition) and since the expenses are mandated (ctcLink, software licensing increases, collective bargaining obligations, etc) we have to start methodologically identifying our commodities and partnerships to start leveraging them as funding sources. I’ll gather this info through the summer and then complete a cost-benefit analysis to determine if any of the newly-generated ideas seem worthwhile to add to our plate. In fall next year, I hope to relate what I’ve learned to the campus (and the Trustees) so we can make some informed decisions about how to tackle this problem.
While we are financially stable at the moment, everyone knows from Convocation that our reserves are scheduled to get smaller because of predicted revenue shortfalls. It is my intent to see if we can reverse that trend AND give us more flexibility in affording the things we need, like competitive salaries and program support. This is a long-term and systematic process; I figured I should start it now while we are healthy rather than waiting for when we are in desperate times. I estimate that any idea we ultimately employ will take several years to start producing revenue streams given start-up phasing.
So next quarter you will see me very active in Olympia (7 visits, 4 of which are overnighters) and very active working on this research project. That’s in addition to all of the other priorities on our plate. Yes, I am ready for a long winter’s sleep, but that may have to wait until summer.
I wish you a restful holiday, I’m excited for the new year, and I thank you for a wonderful 2017. I am holding down the office next week, Wednesday through Friday…stop by to chat.
Have a great weekend.