Financial Conditions Report: Arkansas Public Higher Education

This report delves into the financial conditions of Arkansas's Public Institutions of Higher Education, highlighting challenges and key areas such as productivity-based funding, faculty salaries comparison, tuition trends, fund balances, and more.

• Financial report
• Arkansas education
• Higher education finance
• Faculty salaries
• Tuition trends

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1. Nick Fuller Deputy Director AGENDA ITEM NO. 9: ANNUAL FINANCIAL CONDITIONS REPORT

2. Introduction Report Purpose: Describe financial conditions of Arkansas s Public Institutions of Higher Education Describe challenges experienced by Arkansas s Public Institutions of Higher Education Topics Addressed: Productivity-Based Funding Comparison of Arkansas faculty salaries to other SREB states Tuition & Fees Fund Balances Institutional Scholarship expenditures Athletic Expenditures

3. Comparison of Arkansas faculty salaries to other SREB states

4. Comparison of Arkansas faculty salaries to other SREB states

5. Comparison of Change in Funds per FTE Students to other SREB states - Universities

6. Comparison of Change in Funds per FTE Students to other SREB states - Colleges

7. Tuition and Fees With the Governor s addition of nearly $10,000,000 in State funding for higher education from the implementation of the Productivity Funding model in fiscal year 2018-19, 4 year institutions were tasked with holding tuition flat year over year and the 2 year institutions were requested to limit tuition increases to the CPI. Even with this freeze, fee increases were needed at institutions causing total Tuition and Fee increases from 2017-18 to 2018- 19 to reflect the following: Four-year Institutions = 1-YR Average increase 3.3% Two-year Institutions = 1-YR Average increase 3.1%

8. Tuition Increases 4 Year Institutions

9. Tuition Increases 2 Year Institutions

10. Fund Balances According to industry standards, optimal fund balances should range from 5% to 14% of the E & G operating budget. For 2017-18, all but one of the 4-year institutions fund balances were above 5%. For 2017-18, one 2-year institution s fund balance fell below 5%.

11. Fund Balances 4-Year

12. Fund Balances 2-Year

13. Institutional Scholarships (Academic and Performance) A.C.A 6-80-106 set limitations on Institutional Scholarships from tuition and fees Academic and Performance scholarships awarded to students who qualify for a Pell Grant were excluded in accordance with A.C.A. 6- 80-106. The limit is 20% of E&G tuition and fee revenue 14,472 scholarships were awarded at 4-Year Institutions at a cost of $62.7 million compared to 17,993 at a cost of $68.5 million the previous year Scholarships as a percent of tuition and fees were 8.2% compared to 9.2% the previous year

14. Institutional Scholarships Undergraduate Academic and Performance Scholarship Expenditures for Fiscal 2017-18* Scholarships as a Percent of Tuition & Fees Average 2017-18 Academic Tuition & Award $5,254 $5,874 $7,252 $4,890 $3,465 $2,772 $5,283 $5,067 $10,502 $4,430 $4,643 Institution Academic Performance Total Scholarships Awards 2,405 1,326 565 894 4,280 702 896 591 483 2,330 14,472 Total Tuition & Fee Income $100,396,319 $67,166,601 $24,321,678 $34,423,650 $306,218,597 $34,631,536 $74,680,770 $19,675,119 $18,745,592 $86,166,624 $766,426,486 Awards 1,925 1,246 385 768 3,886 648 852 402 275 2,095 12,482 Amount Awards $10,113,695 $7,319,552 $2,792,062 $3,755,207 $13,464,670 $1,796,240 $4,501,364 $2,036,737 $2,888,059 $9,280,354 $57,947,940 Amount $1,013,240 $78,762 $301,019 $365,122 $1,038,427 $65,289 $73,440 $443,842 $892,331 $456,242 $4,727,713 Amount $11,126,935 $7,398,314 $3,093,081 $4,120,329 $14,503,097 $1,861,529 $4,574,804 $2,480,579 $3,780,390 $9,736,595 $62,675,653 Fees $8,478 $8,880 $8,311 $8,346 $9,062 $6,935 $8,936 $7,462 $7,212 $8,524 $8,214 ASUJ ATU HSU SAUM UAF UAFS UALR UAM UAPB UCA University Total *A.C.A. 6-80-106 set a limit of 20% of tuition and fee income that could be used for scholarships. "Academic" and "Performance Scholarships" does not include scholarships made to a student who qualifies for a Pell Grant 480 80 180 126 394 54 44 189 208 235 1,990 11.1% 11.0% 12.7% 12.0% 4.7% 5.4% 6.1% 12.6% 20.2% 11.3% 8.2%

15. Recommendations Continue to work with institutions to monitor and refine the Productivity Funding Model policies to ensure adequate funding is available to meet student needs, innovation is encouraged, and that the policies continue to respond to attainment goals and priorities of the state. AHECB, ADHE and institutions of higher education work with the legislature toward alignment of institutional funding policies, state financial aid policies, and tuition policies in a way that prioritizes higher education affordability.

16. Nick Fuller Deputy Director AGENDA ITEM NO. 10: ECONOMIC FEASIBILITY OF A LOAN FOR ARKANSAS RESEARCH AND EDUCATION OPTICAL NETWORK

17. Relevant Information $619,416.98 with a term of seven (7) years @ a rate not to exceed 2.74% Educational and general purposes (E&G) Revenue Funding Source: Membership Fee Revenue Proceeds from the loan will be used to replace the optical equipment acquired during phase I of the AREON network build out.

19. ACADEMIC COMMITTEE CONSENT AGENTA ITEMS

20. Consent Items *11. University of Arkansas-Fort Smith Master of Education in Education *Numbers refer to main agenda

21. Alana Boles Program Director of Private Career and Out-of-State Education AGENDA ITEM NO. 12 INSTITUTIONAL CERTIFICATION ADVISORY COMMITTEE: RESOLUTIONS

22. Institutional Certification Advisory Committee (ICAC) 5 Colleges and Universities 16 Programs

23. Dr. Jessie J Walker Senior Associate Director of Academic Affairs /Research & Analytics AGENDA ITEM NO. 13 LETTERS OF NOTIFICATION

24. Letters of Notification Programs approved by the ADHE Director Programs must be included on the AHECB agenda prior to initiation Programs are reasonable and moderate extensions of existing certificates and degrees

25. Dr. Jessie J Walker Senior Associate Director of Academic Affairs /Research & Analytics AGENDA ITEM NO. 14 LETTERS OF INTENT

26. Letters of Intent Notification of institutional plans to offer new programs or organizational units that require Coordinating Board approval Chief academic officers and chief executive officers can comment on the proposals before consideration by AHECB

27. Approval of Minutes October 26 Regular Meeting

28. CHAIR CHARLES ALLEN AGENDA ITEM NO. 2: REPORT OF NOMINATING COMMITTEE

29. Report of Nominating Committee The Nominating Committee (Chair Dr. Charles Allen, Dr. Michael Stanton and Dr. Olin Cook) will make a recommendation on the slate of Board officers for 2019-20, and the Board will act upon the recommendation.

30. Recommendation Chair, Dr. Jim Carr Vice-Chair, Al Brodell Secretary, Chris Gilliam Academic Committee Chair, Lori Griffin Finance Committee Chair, Keven Anderson

31. CHAIR ALLEN AGENDA ITEM NO. 3: STATE BOARD OF HIGHER EDUCATION FOUNDATION ELECTION OF SUPERVISORY COMMITTEE

32. Election of Supervisory Committee The Board for the Foundation includes three annually elected members: a president, a vice president and a secretary/treasurer. The Foundation was established in order to accept private funds for specific projects for the benefit of higher education in Arkansas. The current officers are: President Chris Gilliam Vice President Lori Griffin Secretary/Treasurer Dr. Olin Cook

33. Recommendation President Chris Gilliam Vice President Lori Griffin Secretary/Treasurer Dr. Olin Cook

34. DR. MARIA MARKHAM AGENDA ITEM NO. 4: REIMBURSEMENT OF EXPENSES FOR MEMBERS OF THE AHECB AND ICAC

35. Reimbursement of Expenses Although members of the AHECB and ICAC by law serve without compensation, they may receive expense reimbursement for performing official board duties after following certain procedures set out by Act 1211 of 1995 (A.C.A. 25-16-901 et seq.).

36. Recommendation Because Act 1211 of 1995 (A.C.A. 25-16-901 et seq.) is the sole authority for expense reimbursement, it is necessary for the Coordinating Board to adopt a resolution authorizing expense reimbursement for board members and members of the ICAC.

37. NICK FULLER AGENDA ITEM NO. 5: REPORT OF THE DIRECTOR

38. ADHE Staffing Rich Sanders IT Senior Project Manager Began on January 7, 2019

39. Institutional Leadership The University of Arkansas Community College at Morrilton (UACCM) Chancellor Dr. Larry Davis will retire at the end of January, after almost nine years of service. Diana Arn, Vice President for Academic Services at UACCM, has been named Interim Chancellor, effective January 31. A U.S. Army veteran, Arn enters the role with 32 years of experience at UACCM.

40. Agency Updates Legislation Policy and procedure clean up

41. Agency Projects Policy Review Higher Ed Class/Comp Transition Higher Ed Master Plan Implementation Strategic Communications Plan Strategic Staffing Plan Private Career Ed Transition ACTS Review Arkansas Future Workforce Challenge Rule Promulgation Guided Pathways Co-requisite Remediation Funding Model Adjustments 15 to Finish Math Pathways Interstate Passport Career Pathways Initiative Carl Perkins Project Pipeline Repair

42. TED THOMAS CHAIRMAN Arkansas Public Service Commission

44. ARKANSAS PUBLIC SERVICE COMMISSION DIVERSITY SUMMIT Opportunities In Energy Provide awareness to Higher Education Professionals, particularly at HBCUs Monday, February 25, 2019 @ 8:30 a.m. 5:00 p.m. Mosaic Templars Cultural Center Participants o Higher Education Professionals o Utility Executives o Regional Transmission Operators o Policy Makers o State and Local Officials o National Diversity Experts

45. ARKANSAS PUBLIC SERVICE COMMISSION DIVERSITY SUMMIT Opportunities In Energy ROUNDTABLE DISCUSSION TOPICS oHBCU Overview oCareers in Energy oWorkforce Diversity oWomen in Energy oSupplier Diversity

46. ARKANSAS PUBLIC SERVICE COMMISSION DIVERSITY SUMMIT Opportunities In Energy Registration - Eventbrite https://www.eventbrite.com/e/arkansas-public-service- commision-diversity-summit-tickets-53877306474

47. AGENDA ITEM NO. 6: ANNUAL ENROLLMENT REPORT Sonia Hazelwood Associate Director for Research & Analytics January 25, 2019

48. Annual Enrollment Report The total enrollment for the Fall 2018 term for all sectors of higher education required to report data to the Department of Higher Education (public universities, public colleges, as well as private/independent colleges and universities and nursing schools) was 160,615 students; representing a 1-year decrease of 1.6 percent. This annual report to the Coordinating Board will include: Fall 2018 Enrollment 2017-18 Annual Enrollment

49. Fall 2017 Fall 2018 % Change 4-Year Universities: -1.3% Private/Independent: -0.1% 2-Year Colleges: -2.7% Nursing Schools: -5.9%

50. Fall 2017 Fall 2018 % Change 4-Year Universities: 2.4% Private/Independent: 3.3% 2-Year Colleges: 5.8%

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