DIVE INTO FINANCIAL STRENGTH
Brooke Koenig Allen
"This core strategy is critical to student affordability"
“UCCS is an asset to the Colorado Springs community, southern Colorado and the state. This core strategy addresses not only the long-term financial success of UCCS, but also the critical component of affordability to students and families. By pursuing these two points, our efforts are focused on ensuring that UCCS remains an asset for decades to come.”
Brooke Koenig Allen jumped at the opportunity to be involved with the core strategy on revenue diversification and affordability.
According to Koenig Allen, Program Manager of Processing for Financial Aid, “This core strategy is critical to student affordability and broader, untapped funding streams that are independent of tuition revenue and state funding.”
This strategy will:
- Plan and implement an incentive-based budget model.
- Cultivate, build and increas strong, steady streams of revenue from a more diversified collection of sources.
- Improve student affordability and access across all student populations.
Measures of Success
How will we know we're successful? We will have:
- Implemented an incentive-based budget model by 2023.
- Increased institutional aid streams, measured by both dollars and employees.
- Increased the total percentage of the education and general expenses budget funded by sources other than tuition.
How will we get there? We will:
- Restructure tuition tables to an activity-based model.
- Commercialize partnerships and undeveloped campus lands.
- Share service agreements.
- Decrease the cost to students through outside means, such as third-party payments, internships and new scholarship opportunities.
- Research funding that increases indirect cost recoveries and decreases base funding.