Forsee discusses UM system finances
UM system President Gary Forsee addressed the UM system Board of Curators this morning in Springfield, MO, focusing on the future of the financial situation of the university system.
Forsee began his address by noting the approval of a new market tax credit status for the system that will aid in the funding of non-academic facilities on all four campuses. Forsee also announced the opening of the application process for the Enterprise Investment Program, meant to pair private companies with research capabilities on the four campuses, establishing partnerships across the state.
The address centered around the development and analyzation of shared services programs for the system and the financial progress that can be gained from streamlining back office process across all four campuses.
“We wanted to look at the most frequent back office processes to take a look at what could become a more efficient, share service product,” Forsee said.
By cutting down on inefficient processes, the UM system can cut costs in the long-run, Forsee said, but the system must maintain a focus on the quality of service provided.
Forsee addressed concerns regarding tuition increases, stressing that increases are an important part of the financial future of the UM system.
"Without question, we will need to come to the board for a proposition to increase tuition," Forsee said. "I think we know that we will need to lay out how we’re thinking about (a tuition increase)."
Because of financial difficulties facing the system, Forsee said, a plan for tuition increases should be approved and implemented for the 2012-13 academic year. Each campus will be able to make a case for tuition differentiation, Forsee said, to attempt to balance access across the four campuses.