UM Board of Curators approves future plans to accomplish operational efficiency
ST. LOUIS - The University of Missouri Board of Curators discussed the administrative review report presented by the UM System leadership on Friday, with the support of Pricewater Coopers.
The board approved the plans and ideas the UM System leadership presented, in hopes of improving functions at the University of Missouri - Columbia campus.
The following functions the board reviewed include:
- changing landscape in higher education
- the need for new business models
- receiving input from faculty and examining
- analyzing data to make effective decisions.
MU President Mun Y. Choi said the board's mission will be a challenging task to accomplish with less state support, but he believes it can be done.
"Continuous cuts have hurt us," Choi said. "Now we have to think about what are the ways we can be more efficient in our operation, so we can reallocate those for student needs, as well as our faculty research."
The University plans to track the administrative effectiveness through a survey to be distributed to all employees. Choi said he is excited to start the process.
"The upcoming work survey and other actions will allow us to complete a detailed analysis into how we perform administrative functions," Choi said. "We will identify where we can make changes to become more efficient and to become a stronger university and a key asset to the state of Missouri.”
Vice President of Finance and Chief Financial Officer at the University of Missouri System Ryan Rapp introduced the four key platforms the board are using to combat critical issues.
Those include academic excellence, resources utilization, revenue enhancement and operational excellence. Rapp said operational efficiency is the most important platform.
"As we think of these four key platforms we see those as the ones as what drives those strategic things that the president has talked about," Rapp said. "But I just want to be clear we're really focusing on operational efficiency."
You can read more about the academic review here.
The next topic Rapp discussed was the university's revenue. He said the university would have $160 million gap if it continued to do nothing about its economic stress.
"Decisions need to be made now to ensure we do not land here," Rapp said.
The board also made changes to rules and regulations that will expand employee leave and educational assistance benefits for faculty.
In officer elections, Curator David L. Steelman was nominated as the Chairperson and Curator Darryl Chatman as the Vice Chairperson for 2018.
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