final version of the self-study document - Keuka College's Middle ...

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financial picture reveals an institution which has struggled but has also made very considerable progress toward achieving financial sustainability. Central to a comprehensive long range strategic planning exercise, President Díaz-Herrera began his tenure with an intensive focus on the College’s external and internal environment. At his first annual State of the College address in November 2011, President Díaz-Herrera provided valuable information regarding stress factors and their possible impact on the College (Appendix I.1 State of the College 11-1-11). As part of establishing an institutional baseline, President Díaz- Herrera applied the critical parameters developed by Martin and Samels (2008) in Turnaround: Leading Stressed Colleges and Universities to Excellence to point out nine areas of concern (Table 1.1 Stress Factors Summary). Although the identification of these nine areas of concern, primarily financial stressors, did not come as a surprise to the College’s personnel, the frank discussion of these challenges signified a new and welcome era of transparency. Table 1.1 Stress Factors Summary TURNAROUND 20 STRESS FACTORS Stress factor? 1. Tuition Discounting more than 35 percent YES-1 2. Tuition dependency of more than 85% YES-2 3. Student default rate above 5% (paying back fed. loans) NO 3 Alternate: Bad debt write off greater than 10% YES-3 4. Debt Service more than 10% operating budget NO 5. Less than 1:3 ratio between endowment & operating budget YES-4 6. Average tuition rate increase greater than 8% NO 7. Deferred maintenance at least 40% unfunded YES-5 8. Short-term bridge financing in 4 th quarter NO 9. Less than 10% of operating budget dedicated to technology YES-6 10. Average alumni gift is less than $75 and fewer than 20% give annually 11. Institutional enrollment of 1000 students or fewer NO 12. Conversion yield 20% behind primary competitors NO YES-7 13. Student retention 10% behind primary competitors YES-8 14. Institution on probation, warning or financial watch with accreditor – but it was just two years ago. 15. The majority of faculty do not hold terminal degrees (73% of full time faculty hold terminal degrees; majority of adjuncts do not) 16. Average full time faculty is 58 or higher NO NO YES-9 Page 3 of 8 Introduction
TURNAROUND 20 STRESS FACTORS Stress factor? 17. Leadership team more than 12, less than 3 years of service NO 18. No complete online program has been developed NO 19. No new degree or certificate developed last two years NO 20. More than 1 year to approve a new degree program YES-10 As will be addressed more fully in subsequent chapters of this Self-Study, tuition discounting, retention, and deferred maintenance are chief among the financial challenges facing the College, and accordingly they figure prominently in the financial initiatives and benchmarking metrics developed in the draft of the long range strategic plan. In addition to monitoring progress on the 20 Stress Factors, the President has also identified the Composite Financial Index (CFI) from the Council of Independent Colleges (CIC) Financial Indicators Tool (FIT) as a strategic planning metric for benchmarking and assessing the financial progress of the College. Like the “Turnaround Stress Factors” above, the most recent FIT presents a sobering view of the College’s finances, with the most recent year of the report FY 2009-2010 showing a Composite Financial Index (CFI) of 1.0, measured against the financial health threshold score of 3.0. The previous fiscal year 2008-209 yielded a CFI of -1.0 (Appendix I.2 Financial Indicators Tool July 2012). However, analysis of these indicators reveals that the downward trend on all four core ratios experienced by Keuka in 2008-2009 parallels that experienced by similar institutions. More importantly, the College has substantially improved both its financial performance and its ability to fund mission-critical components. Below are important indicators supporting the improvement of Keuka’s overall financial health since the submission of the Periodic Review Report in 2008: 1. Increase in Operating Budget Surpluses 2011-2012 Operating Budget Surplus = $1.4M (3.9%) 2010-11 Operating Budget Surplus = $1.0M (2.9%) 2009-10 Operating Budget Surplus = $0.3M (1.1%) 2. Beginning 2009-10, discontinued practice of using prior-year surpluses in order to balance budget 3. Beginning 2010-11, instituted practice of building a surplus into the operating budget to help insure the College meets the bank's debt covenant requirement, and to improve the fiscal health of the College 4. Passed the bank's debt covenant test for the past 2 years (2010-2011, 2011-2012) 5. Endowment growth from $4.9M in June 2002 to $10.0M in June 2012 6. Have not had to use line-of-credit since 2002-03 7. "Bad Debt" expense as % of student revenues: 2001-02: 0.8%, 2011-12: 0.4% 8. Growth of debt: 2009-10 = $9.9M, 2011-12 = $13.0 M Page 4 of 8 Introduction
Page 2 and 3: Table of Contents Table of Contents
Page 4 and 5: Appendix Document Title Middle Stat
Page 6 and 7: Appendix Document Middle States Sel
Page 8 and 9: 4.41 Business China Program 2011-20
Page 10: Middle States Self Study Chapter 6
Page 13 and 14: esponses to open-ended questions ab
Page 15 and 16: Chapter 5: Admissions, Retention an
Page 17: esponse to their recommendations, t
Page 21 and 22: administration identified three gro
Page 23 and 24: courses, Field Periods, practica, e
Page 25 and 26: possess the knowledge and experienc
Page 27 and 28: As this Self-Study documents, Keuka
Page 29 and 30: offer online course and accelerated
Page 31 and 32: The Student Code of Conduct, as pro
Page 33 and 34: Handbook, but policies governing fa
Page 35 and 36: The Taskforce on Academic Program P
Page 37 and 38: The Strategic Planning Committee (r
Page 39 and 40: future through expanding programs a
Page 41 and 42: process, and associated timeline, r
Page 43 and 44: times per year for the Vice Preside
Page 45 and 46: was retained in early Fall 2012 to
Page 47 and 48: full-time and two part-time employe
Page 49 and 50: Table 2.4 Distance Education Enroll
Page 51 and 52: Interfund loan of approximately $1.
Page 53 and 54: A systems management component that
Page 55 and 56: 2010-11 Actual 2.0% 2.0% 2011-12 Ac
Page 57 and 58: Chapter 3 Leadership, Governance, a
Page 59 and 60: President for Center for Profession
Page 61 and 62: The Committee on Trustees has been
Page 63 and 64: Range Strategic Planning Committee
Page 65 and 66: the transition process. He was full
Page 67 and 68: provides advice, recommendations an
Page 69 and 70:
committee work and are brought to t
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Staff The Staff of Keuka College pa
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At this time, students in the overs
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greater opportunities than ever bef
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Data-Driven Strategic Planning As n
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as well, such as continuing to inve
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along with members of the Student S
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4,000 students (1,000 FTE) in China
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esult, our analysis of non-academic
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Effective learning assessment start
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assessment cycle have been schedule
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own work effectively. Future assess
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documents provided each program wit
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make oral presentations and partici
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meet the criteria to allow faculty
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The lead faculty member reviews ass
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outcomes. The Center for Experienti
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assessment data for improvement acr
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Beyond assessment that channels up
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Standard 8: Student Admissions and
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Chart 5.3 ASAP Undergraduate and Gr
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events, College branding, transfer
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Cumulative grade point average of 2
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oth the partner school and Keuka to
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Table 5.2 Scholarship Yield Analysi
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and tour the residence halls. Stude
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Learning through participation in a
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Faculty members usually employ a co
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Table 5.5 Campus ASK Appointments 2
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Fall 2010 259 156 83 or 53% 40 or 4
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students with the skills and strate
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*The Library pays for the add-ons a
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Retention and Graduation Rates The
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First Year Experience program— In
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analysis of historical persistence
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Table 5.17 Utilization of ASK Servi
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Campus Life Beyond the classroom, t
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nature of courses, laboratories, an
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Recommendations: 5.1 Assess the rec
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Table 6.1 Keuka College Faculty Lin
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ASAP Table 6.5 ASAP Faculty Lines 2
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appointments will participate in an
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online video orientation materials
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Faculty members seeking to attend a
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Likert Scale, from “strongly disa
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Committee review of faculty files,
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Educational Offerings The Mission o
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Presentation 47 39.2% Case Study 17
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2. “Coursework emphasized: synthe
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To support student learning at each
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Organizational Management, and Crim
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Keuka enrolls international student
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Rubric). The learning goal is pract
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College Writing, and/or MAT 095, De
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• The Dean provides ongoing suppo
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policies and procedures, a copy of
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Credit for Prior Learning Keuka Col
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outcomes are evaluated throughout t
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GLOSSARY January 2013 Middle States
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DRIVE Diversity, Responsibility, In
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NS,M&PE Natural Sciences, Mathemati
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