12:00 PM - 1:00 PM
Act Now: Using Long-Term, Market-Informed Strategy in the COVID Era
Michael Marshall, Bellarmine University
Mr. Barry Maloney, Worcester State University
Ms. Nanci Tessier, Art & Science Group LLC
Even before the pandemic, higher education was facing a demographic cliff that was certain to have significant impact on enrollment and ultimately on net tuition revenue. Last March, COVID-19 brought that looming crisis right to our front door, presaging a post-coronavirus higher ed landscape no doubt even more challenging than anticipated before the pandemic and shaking the financial foundations of many institutions. While the pandemic has understandably had college and university leaders focused keenly on immediate challenges, mid-crisis is actually the time to be moving on longer-term institutional strategy. The panel will discuss principles underlying moving forward strategically in the midst of a crisis, experiences of institutions that did so in past crises, and thoughts on how chief business officers can help foster institutional strategy today.
Assess the Impact of COVID-19 on Your Campus Facilities
Christopher Buddle, McGill University
Cameron Charlebois, McGill University
Elliot Felix, Brightspot Strategies
How is covid-19 changing learning, research, student life, and work – in the short and long term – and what will the implications be for campus facilities? To answer this question, McGill University worked with brightspot to gather data and facilitate retreats with representatives from learning, research, HR, IT, facilities, and finance. This interactive session will walk participants through the process while offering them the chance to reflect on, discuss, and apply the lessons to their institutions while gathering valuable insights from their peers in real-time.
Generating New Revenue Streams in Our COVID-19 Reality: Asset Monetization, Service Bundling, and P3 Partnerships
Mr. Jeffrey Turner, LEED AP, Brailsford and Dunlavey
Karen Mitchal, Aramark
As we transition to living in a world changed by the novel coronavirus, higher education will require non-traditional revenue sources to offset expected declines in enrollment, auxiliary services, and athletics. Asset monetization provides such a source by leveraging an institution’s physical and energy infrastructure for long-term capital gain. Organizations are interested in leasing and operating these assets while continuing to provide energy to your campuses. Additional financial benefits are derived when bundled with other services, such as facilities management and dining services. A public-private partnership (P3) provides the expertise and resources for efficient, affordable changes that align with both campus needs and student demands, while securing new revenue streams This session will explain how these P3 partnerships work and share insights for institutions to acquire capital and reduce risk.