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UVI Convocation & Faculty Convocation 2003 Presented by LaVerne E. Ragster, Ph.D. President University of the Virgin Islands UVI & Faculty 2003 Convocations August 15, 2003 2 2002-2003 Challenges ! Decrease in VI Government appropriations " 5% cut in budget (Spring 2003) " Late allotments cash flow impacted. ! Increase in Federal compliance issues " Financial Aid " SEVIS (Student & Exchange Visitors Information System) " Title II UVI & Faculty 2003 Convocations August 15, 2003 3 2003-2003 Challenges ! Increase in demand for services from students/clients and VI community. ! Transition year for new Presidency " Formation of new Cabinet " Inauguration UVI & Faculty 2003 Convocations August 15, 2003 4 UVI Extraordinary Responses Based on: Dedication, Cooperation, Partnership, Innovation, Investment, Hard work Lead to ACHIEVEMENTS AND SUCCESS UVI & Faculty 2003 Convocations August 15, 2003 5 2002-2003 UVI Success Highlights " Reaffirmation of Accreditation by Middle States Association " Increased Enrollment in regular and summer terms " First cohorts of Associate in Applied Science (AAS) in Process Technology and Ed.S. Degrees " Increase in Workforce Training Activities UVI & Faculty 2003 Convocations August 15, 2003 6 2002-2003 UVI Success Highlights Cont’d " Test site for Certification Exams—Educational Institute of Hotels and Motels Association and for International Computer Drivers License " Grounds for Campuses Improved " Progress in Plant Renovation " Increase in Grant Applications and Acceptances—30+ grant applications and $23.1m pending " Phase 1 of Research and Technology Park initiated " Initiation of new UVI “brand” UVI & Faculty 2003 Convocations August 15, 2003 7 2002-2003 UVI Success Highlights Cont’d " Improvement in Annual Giving—$639,000 " Improvement in relationship with Executive and Legislative Branches of VI Government " Higher level of community engagement—Partnerships with private and public sector, better use of media " Increased recognition of value of Sports and Fitness Center—Paradise Jam new 5-year contract " Improvement in relationship with Trustees UVI & Faculty 2003 Convocations August 15, 2003 8 Congratulations and Thank You! UVI & Faculty 2003 Convocations August 15, 2003 9 UVI FY2004 and Future I. Maintain assumptions concerning values and vision of UVI Values: Excellence, Innovation, Professionalism, Accountability, Integrity, Participation, and Strong Leadership UVI & Faculty 2003 Convocations August 15, 2003 10 UVI FY2004 and Future I. Maintain assumptions concerning values and vision of UVI (cont’d) Vision: UVI recognized as a quality institution, a facilitator of social and economic transformation of the USVI and an example of excellence in collaboration and service. UVI & Faculty 2003 Convocations August 15, 2003 11 UVI FY2004 and Future We must transform and continue to: ! Seek additional sustainable sources of funding ! Pursue excellence in teaching, research and service ! Improve our administrative processes for greater efficiency and productivity ! Enhance teaching and learning outcomes to better prepare our graduates for today’s careers. ! Lead the way in assisting the Government and community to address the challenges of restoring confidence in our public school system, ! Collaborate with key stakeholders, locally and abroad, to address the complex issues impacting the Territorial community UVI & Faculty 2003 Convocations August 15, 2003 12 UVI FY2004 and Future II. Current Budget situation involves uncertainty and requires new approaches to planning for future. ! Address University-college character of UVI ! Revisit Strategic Plan priorities ! Develop future plans based on vision and strategies. UVI & Faculty 2003 Convocations August 15, 2003 13 UVI FY04 and Future To be resolved: A. Major challenges associated with increasing revenue streams to support operations and growth and to supplement reduced VI Government support. B. Critical efforts to mature into competitive, sustainable and responsive higher education institution. UVI & Faculty 2003 Convocations August 15, 2003 14 UVI FY04 and Future To be resolved: B. Major challenges associated with increasing revenue streams to support operations and growth and to supplement reduced VI Government support. ! 1. Revenue Generation Plan " Add new revenue sources; RTP, Workforce Training, Major gifts and Capital Campaign " Improve inputs from enrollment, grants, contracts, annual giving, alumni support " Maintain current level of VI Gov’t appropriations UVI & Faculty 2003 Convocations August 15, 2003 15 !Growth and sustainability based on non-appropriation funding UVI & Faculty 2003 Convocations August 15, 2003 16 UVI FY04 and Future A. Major challenges associated with increasing revenue streams cont’d: ! 2. Implement comprehensive public relations and communications plan ! Utilize new brand “specializing in futures” ! Include all stakeholders in image building efforts ! Leadership team heavily involved in relationship building and fundraising UVI & Faculty 2003 Convocations August 15, 2003 17 UVI FY04 and Future B. Critical efforts to mature into competitive, sustainable and responsive higher education institution. 1. Focus on institutional assessment: student learning and educational experience; quality, efficiency & customer service; financial sustainability; image and reputation UVI & Faculty 2003 Convocations August 15, 2003 18 UVI FY04 and Future 2. Begin preparations for Middle States visit in 2006 3. Clarify campus identities and program offerings 4. Complete appendicies to Faculty Policy Manual 5. Develop summer school compensation policy 6. Encourage and support entrepreneurial activity " Review & finalize draft policies 7. Implement sustainable budget this year (creation of revenue/cost centers) 8. Implement marketing plan and appropriate customer service reorientation 9. Target higher level of communication effectiveness UVI & Faculty 2003 Convocations August 15, 2003 19 Next Steps ! Objective: Complete 2003-2004 with reputation and image intact and enhanced where possible. ! Objective: Compile information necessary to address options available to UVI. ! Objective: Keep all stakeholders informed and participating. UVI & Faculty 2003 Convocations August 15, 2003 20 ! The future of UVI and the future of this Territory are in our hands.