Strategic Goal Four - Fiscal Stability
Secure Multiple Revenue Streams

Rationale

In fall 2012, AMSC changed from a SACSCOC Level 1 to Level 2 institution, which authorized the College to offer bachelor's degrees, in addition to the associate degrees and certificates that it has historically offered since 1974. With this mission change, current fiscal resources must be re-aligned with increased demands of human, physical, and academic resources necessary to provide bachelor's degree program offerings. Fiscal stability (short/long term) and austerity are necessary to sustain the College's competitive edge and stabilize its growth, particularly in the face of adverse factors such as enrollment fluctuations and unexpected events.

Strategies

Key Performance Indicators/Metrics
Develop alternative revenue streams (e.g. grant funding, reserves, gifts, endowment, fundraising activities) (1) Return on Net Asset Ratio, (2) Cash Ratio,(3) Endowment fund, (4) Reserve Balance, (5) Revenue/FTE, and (6) Cash Reserves
Ensure proper alignment of resources and programs/services CAR Metrics
Implement fiscal controls and benchmarks that align with progressive peer institutions to ensure accounting accuracy (1) Annual USG Audits, (2) IPEDS Metrics
Institutionalizing ongoing Comprehensive Administrative Review (CAR) strategies for evaluating effectiveness/efficiency of administrative services and processes, including span/spread analysis to determine optimum organizational structure CAR Metrics
Establish long-term strategies to sustain the AMSC Student Grant/Scholarship Tuition Assistance AMSC Student Grant/Scholarship Fund Year-to-Year Growth and Comparisons
Implement cost savings measures such as water diversion and effective/efficient hours of operation Utility Cost

Major Projects/Initiatives

  • Comprehensive Administrative Review (CAR)
  • Risk Management
  • Annual Audits
  • Strategic/Unit Operational Planning
  • Compliance with SACSCOC Raffirmation of Accreditation Standards
  • Master Planning