Strategic Goal #4: Financial Strength

Financial strength and stability is the bedrock upon which any successful strategic plan rests.  At Eastern Kentucky University, it undergirds our commitment to academic excellence; without it, the University’s ability to launch, sustain, grow, and evaluate quality academic programs is severely compromised. Financial strength and stability also buttresses our commitment to student success, whether we’re attracting more of the best and brightest students, bridging the gap for those students with developmental needs, or developing programs that grow our enrollment and improve our retention and graduation rates.

We will operate from a position of financial strength by becoming as efficient as possible in our spending and maximizing resource generation.

Whatever the case, financial resources are needed to help all our students reach their full potential. Finally, as the share of our revenue from state appropriations continues to decline and as we continue to invest in our strategic goals, while striving to keep the Eastern Experience affordable, greater private support is an acute need. 

Strategic Initiatives

Optimize Campus Resources  (4.1)

Strategies

  • Ensure quality and efficiency in all University operations by implementing baseline budgeting focused on strategic initiatives and strengthening programs. (4.1.1)
  • Include an evaluation of funding levels in the academic and administrative program reviews conducted on a rotating basis. (4.1.2)
  • Conduct an annual departmental faculty workload analysis to ensure responsible stewardship of resources. (4.1.3)

Increase External Support (4.2)

Strategies

  • Build an expansive network of advocates, partners and champions for EKU by communicating effectively with external stakeholders and involving them meaningfully in the life of the University. (4.2.1)
  • Increase revenue from private sources by engaging alumni, friends, and corporate partners to expand support for the people, places, and programs of EKU, including a comprehensive capital fundraising campaign. (4.2.2)
  • Enhance resources through grants and contracts from federal and state agencies, corporations, and foundations. (4.2.3)
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