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May 23, 2017
With an eye on higher education’s shifting financial landscape and strengthening its foundation for future sustainability, Northwest Missouri State University has realized an estimated $66.5 million in cost containment and efficiencies, according to a review conducted by the University in recent months.
“We at Northwest believe in and practice excellence through bold and transformative strategic thinking,” Northwest President Dr. John Jasinski said. “We are intentional and resourceful in our focus on student success – every student, every day. Northwest provides high value through our drive and resilience to achieve maximum results.
Northwest compiled the report this spring, through the guidance of Jasinski and Nola Bond, Northwest’s vice president of strategy and operations, by gathering documentation and input from all areas of the University.
The total represents cumulative savings documented by Northwest between 2012 and 2016. The University took similar actions between 2009 and 2012, but the recent review does not quantify those measures.
“One of Northwest’s core competencies is being resourceful,” Jasinski said. “We have been resourceful for 112 years and will continue to do so. We are stewards of taxpayer money and focus on quality, access and affordability. This study reinforces the Bearcat culture and climate as we carry out our traits and competencies.”
According to the review, Northwest realized about $18.3 million, the largest portion of savings, by replacing University spending on academic, program and facility needs with grants and other funds.
Northwest also reports it generated more than $11.2 million in funding by offering additional products and services, and it saved more than $9.7 million by refinancing debt. The University review references its internationally benchmarked student employment program, which offers some 1,200 profession-based roles to students as a vehicle to earn valuable professional experience, while being resourceful and reducing or avoiding costs through repurposing or restructuring its workforce, saving an additional $7.1 million in labor costs.
Additional efficiencies were captured by managing contracts to optimize services ($5.8 million) and optimizing processes ($4.9 million). Northwest saved about $2.5 million by using technology to reduce labor costs, and it tracked nearly $2.4 million through employee wellness programs that yielded employee benefit savings.
Continuing its long history of sustainability and recycling practices and reductions in energy use, Northwest estimates it saved more than $2.6 million in energy costs during the last four years.
Northwest reports it realized additional savings through outsourcing ($827,500), refining academic programs ($481,500) and targeting capital funding ($441,500).
Furthermore, the University already is making plans to log additional savings in coming years. The University has been transparent, in the midst of preparing its Fiscal Year 2018 budget and facing projected reductions around 6.4 percent across areas, about taking an active approach to reprioritizing and reallocating resources to meet its mission critical priorities.
Earlier this spring, it announced the closure of its Missouri Academy of Science, Mathematics and Computing – which is project to save the University about $468,000 in FY18 – and Northwest-St. Joseph to save between $450,000 and $500,000 annually in coming years, and it will end its English as a Second Language program. The University also offered a voluntary retirement incentive to retirement-eligible faculty and staff while choosing not to fill open positions to realize additional budget savings.
Beyond its campus borders, Northwest generates a significant economic impact for the city of Maryville and surrounding communities. A 2015 study reported the University generated $617.5 million in added annual income for the region.
With an enrollment of more than 6,500 students, Northwest is a coeducational, primarily residential four-year university that offers a broad range of undergraduate and selected graduate programs on its Maryville campus as well as its Northwest-Kansas City location at the Northland Innovation Center.
Founded in 1905, Northwest was ranked in 2015 and 2016 by U.S. News and World Report as the top moderately selective regional university in Missouri, and it has met all measures of the state’s performance-based funding initiative during four of the model’s first five years. Safewise ranks the city of Maryville as one of the “Safest College Towns in America,” while BestCollegesOnline.org has named the Northwest campus one of the “50 Most Amazing University Botanical Gardens and Arboretums in the U.S.”
The University boasts a 59 percent graduation rate, which is in the 89th percentile of Northwest's national peer group. In addition, 97 percent of Northwest bachelor’s degree earners and 99 percent of master’s degree earners secure employment or continue their education within six months of graduation, according to the most recent data. Zippia, a career website, recently named Northwest the best college in Missouri for getting a job.
Northwest places a high emphasis on profession-based learning to help graduates get a jumpstart on their careers. Students have opportunities to build their resumes with experiences on campus in nearly every area of study, including the Horace Mann Laboratory School, National Public Radio affiliate KXCV, the RT Wright Farm, Mozingo Outdoor Education Recreation Area, the internationally ranked Dean L. Hubbard Center for Innovation and Entrepreneurship or Knacktive, a student-driven integrated digital marketing communications agency.
Furthermore, its vibrant and diverse learning community offers more than 150 student organizations, and textbooks and a laptop are included in tuition, which is among the lowest in the state, saving students an estimated $7,300 over four years.
For more information about Northwest and its performance, visit www.nwmissouri.edu/facts/.
Mark Hornickel, Communication Manager
email@example.com | 660.562.1704 | Fax: 660.562.1900
Northwest Missouri State University
215 Administration Building | 800 University Drive | Maryville, MO 64468