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About MFS
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Strategic Plan - Fiscal Planning Goals
Ensure the fiscal integrity of MFS as a great school. Rationale The school operates on a balanced annual budget of $11 million. The school's balance sheet is healthy and includes no debt. At the same time, MFS operates with 10-20% less revenue (when calculated on a per student basis) than its peer institutions. Strategies • Determine what, in light of this Plan, it means be a “great” school, both in fact and in the public perception. This effort will include a study to determine market demand and a marketing plan for promoting MFS. • Determine what new or expanded expenditures are required to meet the programmatic goals outlined in the Strategic Plan. Expenditures in the following areas would be included: physical plant repair and replacement; faculty salaries and benefits; enhancements to the academic program; faculty/staff expansion to lighten loads; technology; and financial aid. • Consider retaining consultants to help with this process. Use financial equilibrium model to determine expense impacts over the planning period. • Determine to what extent increasing tuition and/or expanding enrollment can/should be a source of additional revenue. • Determine to what extent additional revenue can be secured through non-tuition sources, including increasing endowment, annual giving, and auxiliary programs.
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Plan
Goal # 13 