January 22, 2013
January 22nd, 2013
Summary: Senior Vice President Hof Milam and Provost Rogan Kersh made a presentation on the Strategic Resources Initiative (SRI). New Ad-hoc committee with Med School, Event lottery winners announced.
Senior Vice President Hof Milam and Provost Rogan Kersh made a presentation on the Strategic Resources Initiative (SRI) at a January 22 meeting of the Staff Advisory Council. Some highlights included:
- The charge for the SRI is to assess opportunities across Wake Forest for new revenue or reduced spending.
- The goal is redirect funding to support Wake Forest’s core needs:
increasing financial aid, maintaining competitive faculty/staff compensation and funding Wake Forest’s strategic initiatives.
- Leading the SRI are a steering committee chaired by Milam and Kersh and a working group chaired by Emily Neese, associate vice president, University Advancement.
Why the SRI is needed:
- In recent years, significant enrollment growth and tuition increases contributed to revenue supporting such University priorities as faculty/staff compensation, financial aid and updates to facilities.
- For various reasons, tuition increases are constrained now and the University is not anticipating growth.
- Student loan debt nationally is a concern, as it is at Wake Forest.
- The North Carolina sales tax exemption for non-profits is at risk. Loss of the exemption would cost Wake Forest an additional $3 million annually.
Items for consideration by SRI:
- The steering committee is analyzing opportunities for savings and revenue through reviews of redundancies, facilities management, real estate, benefits, procurement, information technology and travel/entertainment.
- In addition, President Hatch has challenged the University Cabinet to supplement SRI efforts by exploring savings opportunities within their own divisions.
- Suggestions for items to consider may be sent to email@example.com. Suggestions remain anonymous.
In other action at the SAC meeting:
- SAC President Mary Cranfill and Faculty Senate President Dan Bourland made a presentation on a proposed Joint Ad-hoc Committee on Campus Integration and Collaboration that would, in part, focus on business and academic practices on the Reynolda and Bowman Gray campuses. Its efforts to look for efficiency gains and cost savings opportunities would be separate from the SRI. If the committee is approved by the University, it would operate for a year, with possible renewal for another year.
- The SAC has informed the winners of its lottery for a staff appreciation event set for Feb. 16. Two hundred staff members won tickets for an SAC-sponsored event that includes the Wake Forest-Georgia Tech men’s basketball game in the coliseum and a “tailgate” lunch at The Last Resort.
Barbee Myers Oakes, assistant provost for diversity and inclusion, will speak at the next SAC meeting scheduled for 9:30 a.m. to 11 a.m. on Feb. 26 in Benson University Center, Room 401 C/D.