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Historically American… Historically American… Uniquely Caribbean… Uniquely Caribbean… Globally Interactive… Globally Interactive… University of the Virgin Islands University of the Virgin Islands Fall 2004 Convocation Fall 2004 Convocation Presented by Presented by LaVerne E. Ragster, Ph.D. LaVerne E. Ragster, Ph.D. President President UVI Fall Convocation 2004 UVI Fall Convocation 2004 2 U.S. Virgin Islands UVI Fall Convocation 2004 UVI Fall Convocation 2004 3 U.S. Virgin Islands UVI Fall Convocation 2004 UVI Fall Convocation 2004 4 UVI Fall Convocation 2004 UVI Fall Convocation 2004 5 UVI Mission UVI Mission ! Offer traditional and non Offer traditional and non-traditional education programs traditional education programs ! Produce responsible, productive citizens Produce responsible, productive citizens ! Provide intellectual capital for development of region Provide intellectual capital for development of region ! Integrate instruction, research and public service Integrate instruction, research and public service ! Contribute to understanding and resolving issues unique to the V Contribute to understanding and resolving issues unique to the VI I and the Caribbean. and the Caribbean. Vision UVI seeks to be recognized globally as a leading American institution of higher education in the Caribbean dedicated to playing a significant role in facilitating the social and economic transformation of the people of the USVI to meet the challenges of the 21st Century. UVI Fall Convocation 2004 UVI Fall Convocation 2004 6 A transformed UVI A transformed UVI Degrees Research Non Traditional Programs Community Service Research Collaboration Instruction Partnership Public Service Entrepreneurial UVI Fall Convocation 2004 UVI Fall Convocation 2004 7 UVI Extraordinary UVI Extraordinary Responses Based On: Responses Based On: Dedication, Cooperation, Partnership, Dedication, Cooperation, Partnership, Innovation, Innovation, Investment, Hard work Investment, Hard work Lead to Lead to ACHIEVEMENTS AND SUCCESS ACHIEVEMENTS AND SUCCESS UVI Fall Convocation 2004 UVI Fall Convocation 2004 8 UVI Celebration of Performance UVI Celebration of Performance ! 25 25th th Anniversary of Anniversary of Reichhold Reichhold Center Center for Performing Arts for Performing Arts ! 10 10th th Summer Institute for Future Summer Institute for Future Global Leaders of the Caribbean Global Leaders of the Caribbean ! 10 10th th Anniversary of Golden Key Honor Anniversary of Golden Key Honor Society Society ! 1st st Alfred O. Heath Distinguished Alfred O. Heath Distinguished Speakers Forum Speakers Forum UVI Fall Convocation 2004 UVI Fall Convocation 2004 9 UVI Celebration of Performance UVI Celebration of Performance ! 1st st Associate in Applied Science in Process Associate in Applied Science in Process Technology Graduates Technology Graduates ! Increase in Enrollment 10% Fall 2003 Increase in Enrollment 10% Fall 2003 – 338 Degrees conferred 338 Degrees conferred – 4000 professional development/workforce 4000 professional development/workforce training certificates training certificates ! Senior Reserve Officer Training Corps Senior Reserve Officer Training Corps (SROTC) program approved STX campus (SROTC) program approved STX campus UVI Fall Convocation 2004 UVI Fall Convocation 2004 10 10 UVI Celebration of UVI Celebration of Performance Performance ! Standard and Poor’s issues investment Standard and Poor’s issues investment grade rating (BBB) for UVI grade rating (BBB) for UVI ! Bond financing for Capital Projects Bond financing for Capital Projects successful successful ! Plant Renovation for Phase 1 Plant Renovation for Phase 1 completed completed ! Increase in grant applications and Increase in grant applications and acceptances acceptances UVI Fall Convocation 2004 UVI Fall Convocation 2004 11 11 UVI Celebration of Performance UVI Celebration of Performance ! Strategic Plan for Institutional Strategic Plan for Institutional Advancement approved Advancement approved ! Annual Giving targets exceeded Annual Giving targets exceeded (target $700K, received $ 1.1M) (target $700K, received $ 1.1M) ! Visible increase in Board of Trustees Visible increase in Board of Trustees level of public support level of public support UVI Fall Convocation 2004 UVI Fall Convocation 2004 12 12 Congratulations Congratulations and and Thank You! Thank You! UVI Fall Convocation 2004 UVI Fall Convocation 2004 13 13 UVI prepares for UVI prepares for Higher Performance Higher Performance More accountable More accountable More responsive More responsive More competitive More competitive UVI Fall Convocation 2004 UVI Fall Convocation 2004 14 14 UVI Financial and Budget UVI Financial and Budget Approach Approach ! Growth and Sustainability Growth and Sustainability based on non based on non-appropriation appropriation funding funding ! Budget process more Budget process more participatory participatory UVI Fall Convocation 2004 UVI Fall Convocation 2004 15 15 UVI Gap Funding UVI Gap Funding Initiative Initiative Objective: Objective: Mechanism to bring expenditures for Mechanism to bring expenditures for operations in line with projected operations in line with projected appropriation level and maintain viability appropriation level and maintain viability and growth potential for institution. and growth potential for institution. Assumption: Assumption: Appropriation level of $25.3M; gap in Appropriation level of $25.3M; gap in operations funding level addressed through operations funding level addressed through cost reduction and increased revenues cost reduction and increased revenues Approved by Board November 2003 Approved by Board November 2003 UVI Fall Convocation 2004 UVI Fall Convocation 2004 16 16 UVI Gap Funding Initiative UVI Gap Funding Initiative FY 2004 FY 2004-05 05 ! UVI requested appropriation of $35.1M UVI requested appropriation of $35.1M from Governor and Legislature. from Governor and Legislature. ! Budget balanced under Gap Funding Budget balanced under Gap Funding Initiative Plan Initiative Plan ! Projected appropriation by Executive Branch Projected appropriation by Executive Branch is $27.6M; provides an additional $2.2M is $27.6M; provides an additional $2.2M ! Board agrees $2.2M can be used for Board agrees $2.2M can be used for Compensation Plan for 2004 Compensation Plan for 2004-05 05 UVI Fall Convocation 2004 UVI Fall Convocation 2004 17 17 UVI Gap Funding Initiative UVI Gap Funding Initiative FY 2004 FY 2004-2005 2005 ! Compensation Plan under discussion Compensation Plan under discussion Market and Equity Adjustments for some Faculty Market and Equity Adjustments for some Faculty Improvement in compensation in general Improvement in compensation in general Incentives for excellence in performance Incentives for excellence in performance ! Action expected by October 2004 Board Action expected by October 2004 Board Meeting Meeting UVI Fall Convocation 2004 UVI Fall Convocation 2004 18 18 Major Objectives 2004 Major Objectives 2004-05 05 A. A. Bring closure to Strategic Plan 2000 Bring closure to Strategic Plan 2000-05 05 B. B. Preparation for Middle States Re Preparation for Middle States Re- accreditation Site Visit 2006 accreditation Site Visit 2006 C. C. Initiate development of Strategic Plan Initiate development of Strategic Plan 2005 2005-2010 2010 UVI Fall Convocation 2004 UVI Fall Convocation 2004 19 19 Bring Closure to Strategic Bring Closure to Strategic Plan 2000 Plan 2000-2005 2005 I.I. Strengthen academic quality Strengthen academic quality II. II. Develop and strengthen systems to Develop and strengthen systems to provide additional capacity provide additional capacity III. III. Strengthen and increase fundraising Strengthen and increase fundraising and financial diversity initiatives and financial diversity initiatives IV. IV. Focus and strengthen Focus and strengthen communications communications UVI Fall Convocation 2004 UVI Fall Convocation 2004 20 20 Bring Closure to Strategic Bring Closure to Strategic Plan 2000 Plan 2000-2005 2005 I.I. Strengthen academic quality Strengthen academic quality ! Faculty Development Faculty Development ! Academic restructuring Academic restructuring ! Program Rationalization Program Rationalization ! Student Outcomes Assessment Student Outcomes Assessment II. II. Develop and strengthen systems to Develop and strengthen systems to provide additional capacity provide additional capacity ! Focus on enrollment management effectiveness Focus on enrollment management effectiveness and responsiveness and responsiveness ! Establishment of a fully compliant, responsive and Establishment of a fully compliant, responsive and effective post effective post-award grants management system award grants management system ! Alignment of Human Resource Office systems with Alignment of Human Resource Office systems with current needs for responsive and current needs for responsive and complinance complinance. UVI Fall Convocation 2004 UVI Fall Convocation 2004 21 21 Bring Closure to Strategic Bring Closure to Strategic Plan 2000 Plan 2000-2005 2005 III. III. Strengthen and increase fundraising Strengthen and increase fundraising and financial diversity initiatives and financial diversity initiatives ! $1.1M Annual Fund target $1.1M Annual Fund target ! Research & Technology Park prototype Research & Technology Park prototype tenants in place tenants in place ! Workplace Training expanded Workplace Training expanded ! UVI Community Centers UVI Community Centers IV. IV. Focus and strengthen Focus and strengthen communications communications UVI Fall Convocation 2004 UVI Fall Convocation 2004 22 22 Major Objectives 2004 Major Objectives 2004-05 05 B. B. Preparation for Middle States Re Preparation for Middle States Re- accreditation Site Visit 2006 accreditation Site Visit 2006 C. C. Initiate development of Strategic Plan Initiate development of Strategic Plan 2005 2005-2010 2010 UVI Fall Convocation 2004 UVI Fall Convocation 2004 23 23 A transformed UVI A transformed UVI Degrees Research Non Traditional Programs Community Service Research Collaboration Instruction Partnership Public Service Entrepreneurial UVI Fall Convocation 2004 UVI Fall Convocation 2004 24 24 University of the Virgin Islands University of the Virgin Islands “Specializes in Futures” Specializes in Futures” This is our commitment to the This is our commitment to the Virgin Islands community Virgin Islands community and assurance to our partners. and assurance to our partners.