Financial Position

Deliver balanced budgets by expanding and enhancing the Five-Year Financial Forecast.

Tactics:

• 2.1a - Review and update the forecast annually as a kickoff to the annual budget development process.
• 2.1b - Expand to other areas of the university (regionals, colleges, auxiliaries).
• 2.1c - Continually add new forecasting variables and assumptions to enhance completeness, accuracy and precision.

Leverage technology and automation to optimize business processes.

Tactics:

• 2.2a - Select and implement procure-to-pay software. 
• 2.2b - Implement Ellucian Banner salary planning tool.
• 2.2c - Implement Ellucian Banner budget development platform. 

Explore opportunities to restructure the 2013 Series B Private Placement Bonds in a cost-neutral manner. 

Tactics:

• 2.3a - Review debt structure on a regular basis and develop recommendations based upon current market conditions and assumptions.
• 2.3b - Initiate and execute the restructuring transaction (terminate the swap and extend/optimize the debt service term) when the financial analysis is favorable.

Develop a Northeast Ohio University Shared Services Initiative.

Tactics:

• 2.4a - Assess the feasibility of a shared services function.
• 2.4b - Develop recommendations and secure authorization to proceed.
• 2.4c – Develop an implementation plan and proceed with next steps.

• Senate Bill 6 Ratio
• Bond Ratings
• Current unrestricted year-end budget surplus/deficit