Scan Team 6 Report Contemporary Funding Models for Higher Education and How to Transition Fred Croxen, Diana Doucette, Silvia Kempton, Mary Schaal.

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Presentation transcript:

Scan Team 6 Report Contemporary Funding Models for Higher Education and How to Transition Fred Croxen, Diana Doucette, Silvia Kempton, Mary Schaal

Scope of Scan Members generated areas for further research based upon member questions and ideas, and investigated further through Literature reviews of scholarly papers, NACUBO resources, and Internet searches; a site visit at Yavapai College, and in-person information gathering. Findings were grouped into topics and sub-divided into what AWC has done and other potential approaches

Bond Debt Government obligation bonds (voter approval required) Revenue bonds (no vote required) Current Housing funding would redirect to pay back Revenue bond. Would need a new business model developed Revenue Bonds could provide means for mission-critical resources outside of seeking G.O. bonds.

Seek External Funding Win competitive grants (limits) Explore government contracts & research grants Expand Foundation fund-raising, gifts, and endowment Expand beyond the current grants, contracts, and Foundation efforts.

Innovative Partnerships Public Private Partnerships PPA solar partnership Co-location w/ govt. entities or other public services For-profit partnerships (i.e., private residence halls) Corporate sponsorships Could provide additional resources without impacting property taxes

Innovative Programs Learning + Profit Work college Internships Hops, Brew-master Hotel/culinary arts Maker programs Work college Could provide access, job experience, reduced debt, and reduced costs to the college Internships Design programs to provide authentic work experience, generate profit, and potentially economic development

Maximize Use of Facilities and Property Sell or trade property (24th & Araby for SL) Lease space Reconfigure sites to generate fee-based revenues (i.e., regional testing center) AWC property and facility use should be maximized to contribute to the college mission and financial stability

Five Impact Statements Given that government and state support for higher education are projected to decline, Revenue bonds could provide means for mission-critical resources outside of seeking G.O. bonds. AWC would benefit from external funding beyond the current grants, contracts, and Foundation efforts. Innovative partnerships could provide additional resources without impacting property taxes. Innovative education programs could be designed to provide authentic work experience, generate profit, and potentially economic development. AWC property and facility use should be maximized to contribute to the college mission and financial stability.

Q&A Discussion w/participants