april 15, 2013 meeting of revenue generation task force
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REVENUE GENERATIONTASK FORCE MEETINGApril 15, 2013 | 3:30 to 4:30 p.m.LSU AgCenter| Efferson Hall 212
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Lee Griffin, Finance and Revenue Sub-Committee Co-Chair
WELCOME
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Dr. Christel Slaughter, SSA Consultants
REVENUE ENHANCEMENT INITIATIVES AT OTHER UNIVERSITIES
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Ideas for Enhancing Alternative Revenues for Higher Education
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New Educational RevenuesCapturing High-Growth Student Populations and Instructional Services
International student recruitment Applied and professional master’s Distance learning and course licensing Summer and intersession blended learning Customized corporate training Testing and certification Distance learning articulation agreements Senior enrichment programs Faculty consulting
Source: Education Advisory Board
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Academic Entrepreneurship InfrastructureCritical Capabilities for Identifying, Launching and Scaling Viable Programs
Business planning support Fast-cycle program launch Cost-effective marketing Curriculum development Enrollment management Outsourcing and joint venture models
Source: Education Advisory Board
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Branding, Licensing and AffinityExpanding Product Categories and Sellable Space
Increasing branded merchandise demand Alumni, parent and community affinity programs “STEALTH” advertising and sponsorship Diversifying athletics revenues
Source: Education Advisory Board
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Auxiliary ServicesIncreasing Demand While Reducing Fixed Costs
Premium-priced healthy and convenient foods Future bookstore Shared-cost luxury amenities Favorable vendor rebates
Source: Education Advisory Board
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Student FeesCharging for Convenience and Choice
Convenience fees Sharing costs of inefficient scheduling Differential instructional cost
Source: Education Advisory Board
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Campus OperationsTurning Cost Centers into Revenue Producers
Campus health center Selling administrative services Surplus goods disposal Sustainable energy purchase power agreements
Source: Education Advisory Board
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Facilities and Real EstateGenerating Cash Flow from Underutilized Space
Event rentals Development of joint ventures Long-term leasing Asset acquisition and disposal
Source: Education Advisory Board
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Representatives from Various LSU Foundations
PANEL DISCUSSION: FOUNDATIONS THROUGHOUT THE LSU SYSTEM
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LSU SYSTEM ASSETSDanny Mahaffey, Director of Facility Planning
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Dr. Christel Slaughter, SSA Consultants
REVIEW OF TUITION AND HOUSING INFORMATION
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In-State Tuition and Fees (2012-13)
LSU BR
LSU A
LSU S
Arkansas
AuburnBam
a
Florid
a
Georgia
Kentucky
Miss St
ate
Ole Miss
Tennessee
Texas A&M
U of SC
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$6,989
$4,618 $4,943
$7,554
$9,446
$7,932
$6,143
$9,842 $9,676
$6,264 $6,282 $6,426
$8,506
$10,488
SEC Average* = $7,962Information from Institution of Education Sciences: http://ies.ed.gov* Does not include Vanderbilt.
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Out-of-State Tuition and Fees (2012-13)
LSU BR
LSU A
LSU S
Arkansas
AuburnBam
a
Florid
a
Georgia
Kentucky
Miss St
ate
Ole Miss
Tennessee
Texas A&M
U of SC
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$22,265
$9,400
$11,679
$18,434
$25,190
$14,244
$28,420 $28,052
$19,864
$15,828 $16,266
$18,954
$25,035
$27,644
Information from Institution of Education Sciences: http://ies.ed.gov* Does not include Vanderbilt.
SEC Average* = $21,683
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In-State, Out-of-State Comparison (2012-13)
LSU BR
LSU A
LSU S
Arkansas
AuburnBam
a
Florid
a
Georgia
Kentucky
Miss St
ate
Ole Miss
Tennessee
Texas A&M
U of SC
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$6,989
$4,618 $4,943
$7,554 $9,446
$7,932 $6,143
$9,842 $9,676
$6,264 $6,282 $6,426
$8,506
$10,488
$22,265
$9,400
$11,679
$18,434
$25,190
$14,244
$28,420 $28,052
$19,864
$15,828 $16,266
$18,954
$25,035
$27,644
Information from Institution of Education Sciences: http://ies.ed.gov
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In-State Total Estimated Expenses (2012-13)Includes Tuition, Fees, Books, Housing, and Other Necessities
LSU BR
LSU A
LSU S
Arkansas
AuburnBam
a
Florid
a
Georgia
Kentucky
Miss St
ate
Ole Miss
Tennessee
Texas A&M
U of SC
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
On Campus Off Campus Off Campus with FamilyInformation from Institution of Education Sciences: http://ies.ed.gov* Does not include Vanderbilt.
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Out-of-State Total Estimated Expenses (2012-13)Includes Tuition, Fees, Books, Housing, and Other Necessities
LSU BR
LSU A
LSU S
Arkansas
AuburnBam
a
Florid
a
Georgia
Kentucky
Miss St
ate
Ole Miss
Tennessee
Texas A&M
U of SC
$0 $5,000
$10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000
On Campus Off Campus Off Campus with FamilyInformation from Institution of Education Sciences: http://ies.ed.gov
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Impact of Incremental Raise in Tuition*
1% $1Gross $1.9 million $60,000Net $1.6 million $50,000
* Assumes continued current enrollment patterns (Summer 2012, Fall 2012, Spring 2013)
Information provided by Bob Kuhn, Vice Provost and Associate Vice Chancellor of Budget and Planning
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Impact of Students Paying for Full Course Load (21 Hours versus 12 Hours)
TOPS Students (Graduate and Undergraduate) Not Excluded from Increase
Gross $29 millionNet* $21 million
TOPS Students (Graduate and Undergraduate) Excluded from Increase
Net $10 million
* Includes factor attempting to account for a change in student behavior resulting from removing the tuition cap.
Information provided by Bob Kuhn, Vice Provost and Associate Vice Chancellor of Budget and Planning
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SEC Freshman Year On-Campus Residency Requirements
LSU BR No
Arkansas Yes
Auburn No
Bama Yes
Florida No
Georgia Yes
Kentucky No
Miss State Yes
Ole Miss Yes
Tennessee No
Texas A&M No
U of SC Yes
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Department of Residential Life
6,000 students live on campus
85 percent of freshmen live on campus
Residence halls have reached full capacity 700 students on waiting
list Revenue neutral
Would require upperclassmen and graduate students to move off campus
LSU-BR Campus Housing Snapshot Current Issues with Requiring Freshmen to Live on Campus
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Department of Residential Life Vision 2020 Strategic Plan
Housing master plan Identified residence halls to renovate – as one
renovation completes, another hall is taken “offline” to begin its renovation. Fall 2012: Laville Honors College Fall 2013: Annie Boyd Hall (adding 160 beds)
New Residence Hall Project 660 new beds
August 2015: 330 beds 2016: 330 beds