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Process for Identifying New Sources of Revenue, Cost Savings and Efficiencies
Dec. 4, 2002
Financial Futures Group: Frank McGovern and Don Bantz, co-chairs; Enrique Riveros-Shafer, Ann Daley, Art Costantino, Bill Zaugg, Mike Segawa, Steve Trotter, Petra Carver, Anna Kircher
We are reaching out to the entire Evergreen community, asking for assistance in gathering ideas about ways in which the college could either create new revenue or reduce expenses, while remaining true to our mission and values. We have created a web page at www.evergreen.edu/committee/revenue where you can submit your ideas. You'll be asked to provide your regular network login id and password in order to access this page.
A. For each idea, please include:
- the best way of reaching you, so we can ask for clarifying and supporting information about your idea;
- a title or one-phrase descriptor (useful when creating lists);
- the approximate cost saving or revenue; the area of the budget directly impacted (e.g., an indication of whether this effects the net, base operating budget, or is one-time or ancillary funds);
- a thorough description of your idea;
- challenges presented by the idea - any hidden costs, opportunity costs, barriers or difficulties that must be dealt with in order for the benefit of the idea to be realized;
- some thoughtful reflection on how this idea might change our current practices, mission and/or values;
- an idea of how long it might be before the college would realize financial benefit from the idea.
B. The list of submitted ideas will be compiled on January 24th.
C. A public forum will be held the last week of January seeking feedback on the various suggestions. The above web page will also be updated and expanded to accommodate feedback during this time. All feedback is due by February 7th.
D. The Financial Futures Group will gather after February 7th to consider all feedback, and winnow down the list to those ideas which seem most likely to yield constructive results, either immediately or within the 03-05 biennium.
E. The winnowed down list will be given a thorough cost/benefit analysis (qualitative as well as quantitative). Analysis will be assigned to various staff, as seems most appropriate for the topics. (Folks doing this work will be provided support and/or backup in order to make room in their schedules.) Analysis work will be completed by early March.
F. Analysis of selected ideas will be published to the campus community in early March; further feedback from the community will be obtained via both open forum and electronic means. Feedback will be solicited through late March.
G. The Financial Futures Group will meet by the end of March to finalize the list of most promising ideas, with supporting analysis, to submit to the college budget process.
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