Ohio State on pace to exceed efficiency, new resource goals

Well before 2020, Ohio State has already exceeded the university’s five-year goals for increased student financial aid and new resources generated through innovative partnerships.

Operational excellence and resource stewardship is a key element of the university’s Time and Change strategic plan.

In 2015, President Michael V. Drake set out three goals to achieve by fiscal year 2020:

  • $200 million in administrative efficiencies;

  • $200 million in new resources;

  • Utilizing at least $100 million of these proceeds to expand financial aid

The university’s scorecard, which was presented to the Board of Trustees last month, shows that the university is on pace to surpass the efficiency goal by 2020 and has already surpassed the other five-year goals — more than a year early.

Below is a status report on each area:

  • Financial aid: Through this academic year, the university has committed more than $102 million to three programs that benefit low- and moderate-income Ohioans: the Buckeye Opportunity ProgramPresident's Affordability Grants and the expansion of the Land Grant Opportunity Scholarships.

  • New resources: The university has generated more than $1 billion through the Comprehensive Energy Management partnership alone. More than $800 million of those funds have been placed in endowments supporting the student financial aid, faculty positions, sustainability and other strategic priorities. Another $250 million has been set aside for upcoming capital projects to support the academic campus. The university has also generated new support for students through expanded relationships with NIKE and Coca-Cola.

  • Efficiencies: More than $112 million has been deposited in Ohio State's efficiency accounts through the end of fiscal 2018, and the university is on pace to generate more than $207 million by the end of fiscal 2020 based on ongoing projects. Additional operational excellence work may further increase that total. Ohio State's efficiency program includes both university-wide initiatives and efforts within individual colleges and administrative units.

This progress reflects the university's commitment to being a responsible steward of its resources, as do separate savings from strategic procurement, in the capital project process and at the Wexner Medical Center.