ADMINISTRATIVE INFRASTRUCTURE AND FISCAL SELF-SUFFICIENCY

Strategy Five

Achieve full fiscal self-sufficiency and develop a stable

economic base for university programs and services.

(supports USF St. Petersburg goals 1, 2 and 8)

Overview

Universities must increasingly seek external sources of funds to support teaching, research, and service activities. Nationwide, revenue from state appropriations has declined as a proportion of the total. Florida currently ranks 48th in the nation in terms of state support for higher education. For USF St. Petersburg to accomplish its strategic initiatives, alternative revenue sources must be aggressively pursued. Revenue-generating strategies must be a natural outgrowth of the institutional mission, capitalize on USF St. Petersburg's strengths, and hold the potential to benefit the university as well as the community it serves. USF St. Petersburg must efficiently utilize as well as safeguard its resources.

  Actions

1.  Ensure responsible stewardship of financial resources.

. Refine and continue a comprehensive budget planning process.

. Develop a web-based portal to provide financial information online.            

. Promote fiscal integrity through continuing independent external audits

. Implement purchasing processes to reduce costs.

2.  Promote effective and efficient use of human and physical resources.

. Human resources:

- recruit highly qualified faculty and staff;

- pay competitive salaries;

- recognize performance;

- promote training and continuing education

. Physical resources:

- complete and maintain the facilities master plan;

- ensure maximum use of space;

- minimize deferred maintenance.           

3.  Create mission-appropriate programs to enhance revenue.

. Expand contract/grant funding in a fiscally prudent manner.

. Identify non-credit programs and services that generate economic benefits.

4.  Develop facilities to improve campus environment.

. Construct parking facilities to support a growing campus.

. Offer on-campus student housing to attract a diverse student population.

. Build a student center to enrich campus life and to enable the expansion of health, counseling, and multicultural services.

5.  Expand private contributions to competitive levels with comparable public research universities.

. Develop college and unit advisory boards to assist in generating external funding.

. Launch a Capital Campaign.

. Enhance alumni giving.

Accountability

Selected Accountability Measures