In back-to-back town hall meetings held on Feb. 17, UConn administrators discussed possible increases to tuition and fees and outlined a new financial review project taking place at the University over the coming months.
During the first meeting, UConn vice president and chief financial officer Richard Gray said that he was in the midst of analyzing the effect Gov. Malloy’s proposed budget would have on the University. Because his analysis is not yet complete – the governor released his proposed budget only 24 hours earlier – Gray said it would have been premature to suggest what specific tuition or fee percentage increases he may propose to the Board of Trustees. Instead, he asked the audience for feedback on the issue generally, and discussed the University’s financial situation.
To view the video of the first meeting, click here.
Malloy’s proposed 10 percent cut to UConn’s state appropriation for fiscal year 2012, would, if passed by the legislature, result in a loss of about $35 million for the University, Gray said.
The Board of Trustees will meet on Tuesday, Feb. 22, and the issue of tuition and fees is on the meeting agenda. Anyone who wishes to share his or her view on tuition is free to do so during the public comment portion of the board meeting.
In keeping with the fiscal and economic theme of the first meeting, the second town hall gathering was devoted to a new financial review effort the University is undertaking.
To view the video of the second town hall gathering, click here.
In November 2010, after a competitive bid process, the Board of Trustees approved the hiring of McKinsey and Co., a Washington, D.C.-based consulting firm, to identify ways for UConn to increase efficiencies, reduce costs, and explore new revenue opportunities. Their work began this week.
The review will be divided into two phases: in the first, the firm will have a team in place on campus examining UConn’s operations, collecting data, and benchmarking how the University conducts business against other “best-in-class” institutions. In the second, they will develop recommendations for the university president to help UConn improve its business practices. The review is expected to continue through the summer.
The firm will be active on the Storrs and regional campuses. The Health Center has already undergone a similar effort and is not part of this effort.
The review will focus on eight specific areas at UConn:
- Information technology
- Facilities operations
- Public safety
- Procurement
- Financial operations and administration
- Human resources
- Student affairs
- Athletics
It will also identify opportunities to enhance revenues across the University.
Academic programs are not part of the scope of the firm’s mission, although IT, business affairs, and human resources work that support academic services will be.
Provost Peter Nicholls is the chair of a steering committee that has an advisory role working with McKinsey and the university community. Nicholls stressed that the University and the steering committee are overseeing the effort, not the firm itself.
The undertaking is a continuation of the work begun by the Cost, Operations, and Revenue Efficiencies (CORE) group, a team of UConn administrators, students, staff, and faculty formed in 2008 to identify savings.
In the coming weeks, a website devoted to the review will be introduced. It will list the members of the University’s steering committee, as well as how members of the UConn community can share their ideas.
