Responsibility in Stewardship
Seton Hall will create an environment that builds upon incentive and entrepreneurial flexibility across the organization. Intentional linkage of budgets and planning will increase the agility of the University to respond to rapidly evolving opportunities. This will enhance the organizational capacity to grow and diversify revenue sources. As responsible stewards, Seton Hall will be guided by high standards of transparency, accountability and focus on resource allocation. Choices cannot always be popular but the opportunity to defend these choices must be embraced.
Focus on Priorities in Resource Allocation and Reallocation
- Increase the linkage between budgeting, planning, and assessment and committing to budgetary practices that are more transparent.
- Adopt a practice of multi-year budgeting involving three-year projections of likely undergraduate and graduate enrollment, post-freshman financial aid commitments, anticipated special projects, scheduled maintenance and the like, and including mechanisms for encumbrance of funds by units beyond a single fiscal year.
- Increase commitment to sustainability initiatives, including administrative adoption of publicly reported sustainability benchmarks.
- Capitalize on the collective strengths of our faculty, administration, and staff by committing resources to advance their professional development.
Diversify and Increase Sources of Revenue
- Expand Implement a comprehensive strategy to significantly increase the endowment through an increased alumni and donor base.
- Create non-traditional pedagogical opportunities such as off-campus and distance learning opportunities, alternative degree programs, and activities of interest to prospective students and underserved populations.
- Encourage entrepreneurial utilization of auxiliary enterprises; pursue business partnerships to provide services on campus desirable to students.