Vermont Business Magazine This week the Vermont State Colleges System Board of Trustees unanimously approved a balanced fiscal year 2018 budget after several years of shortfalls. The five-college system enrolls over 12,000 students, including over 10,000 Vermonters, and is comprised of Castleton University, Johnson State College, Lyndon State College, Vermont Technical College and the Community College of Vermont.
“This balanced budget reflects the results of proactive leadership and critical new support from the State. It sets us up for success in providing access to quality higher education in all regions of Vermont,” said Board Finance and Facilities Committee Chairman Churchill Hindes.
The system’s fiscal year 2018 budget ends several years of budgets stressed by low state support, a decline in the number of Vermont high school graduates, increased competition from New England and northeastern regional colleges through tuition discounting, and increases in health insurance costs. College presidents submitted budgets that reflected strategic management of resources, which came together in a balanced VSCS budget that realizes savings through a new, system-wide approach to business processes.
The fiscal year 2018 budget was buttressed by several significant initiatives:
- a $3 million increase in the base appropriation from the State;
- $880,000 in State support for the unification of Johnson State College and Lyndon State College into Northern Vermont University, which followed $770,000 in fiscal year 2017;
- $1 million in savings consolidating the administrations of Johnson and Lyndon in FY2018;
- $2.6 million from a major debt refinancing and restructuring; and
- over $1 million in savings from business process efficiencies, benefit changes, and spending reductions.
Governor Scott proposed a funding increase for the system in his FY18 budget address. Legislative leaders also prioritized new support for the Vermont State Colleges System in their final budget bill, approved yesterday.
Chancellor Jeb Spaulding stated, “Sometimes success requires an investment. We appreciate the confidence that the Governor and Legislature showed by investing in their public higher education system.”
The VSCS continues its work to grow enrollment, increase retention and completion rates, and serve more working-age Vermonters. Its six strategic priorities reflect these commitments, which prioritize student success and support budget sustainability.
Six Priorities to Support the Mission
of the Vermont State Colleges
For the benefit of Vermont, the Vermont State Colleges system provides affordable, high quality, student-centered, and accessible education, fully integrating professional, liberal, and career study, consistent with student aspirations and regional and state needs.
Strategy 1: Increase the continuation rate of high school students on to postsecondary education.
- Provide effective leadership and advocacy, with partners, on the urgent need to increase postsecondary affordability and attainment while sustaining program quality.
- Expand strategies (e.g. Introduction to College Studies, dual enrollment, “try a major” events) targeted at current populations of high school students who are not continuing with postsecondary education.
- Expand existing and create additional flexible academic pathways into and through our degree programs, including providing meaningful certificates and associate degrees.
Strategy 2: Improve the retention and graduation rates at our colleges.
- Implement degree maps to create clear curriculum paths to graduation.
- Improve access and use of data and advising technologies.
- Develop multiple delivery models for degree completion, including online, connected classrooms, and flexible schedule options.
- Continue to increase comprehensive and strategic approaches to student support services.
Strategy 3: Become a more attractive destination for Vermont high school graduates.
- Create a positive brand at the VSCS system level that supports the unique characteristics of each college and is rooted in the sustained quality of the academic experience.
- Continue to improve technological and physical infrastructure.
- Enhance relationships with school counselors statewide.
- Establish VSCS celebration and support of academic excellence (e.g. VSCS Hall of Fame).
Strategy 4: Serve well more working age Vermonters.
- Improve and expand flexible and online delivery of programs across the VSCS to increase number of degree programs available to students statewide.
- Work with employers on needs assessment and flexibility of delivery.
- Improve the entire technology infrastructure of the system to ensure that it is user friendly and competitive.
Strategy 5: Operate as a more integrated system to expand student opportunities and achieve operational efficiencies.
- In addition to maximizing productive collaboration and integration across the entire system, develop strategic alliances between Johnson and Lyndon State Colleges, as well as Vermont Technical College and Community College of Vermont, intended to complement and/or supplement their individual strengths and weaknesses.
- Improve the entire technology infrastructure of the system to ensure that it is user friendly and competitive.
- Review the financial model of the system to ensure institutional stability and explore financial incentives that support collaboration and system interconnectedness.
- Reduce transferability and course-sharing barriers to expand the diversity of student academic and co-curricular learning opportunities.
Strategy 6: Increase state financial support and other supplemental revenues.
- More effectively advocate for state support.
- Increase grant-writing capacity in the system.
- Collaborate on shared fundraising resources.
The VSCS FY18 budget goes into effect July 1.
For the benefit of Vermont, the Vermont State Colleges System provides affordable, high quality, student-centered, and accessible education, fully integrating professional, liberal, and career study, consistent with student aspirations and regional and state needs. It includes Castleton University, the Community College of Vermont, Johnson State College, Lyndon State College, and Vermont Technical College.VBM vermontbiz.com
Source: Vermont State Colleges 6.22.2017