帝王会所

帝王会所 has implemented a series of cost reductions, new revenue generation, and policy and process improvements that will create an estimated $220 million in savings or avoided costs, reductions in expense, and growth in revenues over a five-year period that started in Fiscal Year 2017, according to estimates being prepared for submission to the 帝王会所 Department of Higher Education.

Each public university in 帝王会所 is required to annually report its affordability and efficiency efforts and projections to the 帝王会所 Department of Higher Education, which in turn is required to create a statewide report by Dec. 31 each year. The report is based on the recommendation of former Gov. John Kasich鈥檚 Task Force on Affordability and Efficiency in Higher Education.

The largest projected savings are from the multi-year benefit of: organizational restructuring ($75.8 million), innovative and collaborative procurement activities ($49 million), management of health care costs ($25.9 million), and the review of University assets ($24 million).

鈥湹弁趸崴� has worked hard to tighten its belt by reducing expenses where possible, reviewing our assets, and making strategic investments that combine to improve the University鈥檚 financial picture,鈥� Senior Vice President for Finance and Administration Deb Shaffer said. 鈥淲hile the formal review was mandated by the state, most of these initiatives were already underway within the University.鈥�

To achieve the savings, cost reductions and new revenue, 帝王会所 engaged in a number of activities, including:

• OHIO collaborated with the Inter-University Council of 帝王会所 and the rest of the state鈥檚 public universities to establish preferred vendor contracts to secure volume-purchase savings statewide. 帝王会所 was recently the lead institution on a travel RFP as part of this initiative.
• OHIO assessed organizational structures to gain efficiencies and reduce costs, including targeted, permanent, administrative and academic budget reductions.
• The University launched initiatives to negotiate textbook costs and develop digital capabilities to cut students鈥� material costs. Inclusive Access, a low-cost course material initiative with current projected savings to students of $6.4M over the five-year period, has the potential for exponential growth in savings for students with more wide-spread adoption. OHIO鈥檚 Open Educational Resources partnership with TopHat has saved students an estimated $1 million and has potential for significant future growth.
• OHIO created a projected $9M in net revenue generation over the five-year period through new professional and online programs.
• The University contained and drove down escalating costs of health care by implementing recommendations from the Benefits Advisory Committee, reducing the rate of increase in University costs to below the healthcare industry inflation since FY16.
• The University conducted operations reviews, including: lean process improvement studies; the coordination of maintenance operations with the City of Athens to achieve volume savings.
• OHIO鈥檚 real estate office has evaluated development possibilities in several areas, including the strategic sale of land. The University also received $18.4 million as part of an FCC Spectrum Auction for WOUB.
• The University鈥檚 evaluation of opportunities for partnerships and sponsorships at all of OHIO鈥檚 locations across the state resulting in the creation of the Corporate Engagement Task Force, a new partnership in the Russ Research Center in Beavercreek, and real estate and program partnerships in Dublin.
• OHIO sought and refined sustainable methods to cost-effectively procure and use energy.
• OHIO also developed plans to redeploy faculty and share course delivery across OHIO鈥檚 regional campuses.

All savings and projected savings are calculated with a focus on maintaining OHIO鈥檚 high quality educational experience for all students, while keeping the cost of college affordable for students and their families.