Client Engagement Summary- Private University

Client Description:

Private Faith Based University

Client Opportunity or Challenge:

  • The client has been experiencing eroding revenues and escalating costs, which were not clearly and consistently acknowledged and discussed with Board of Trustees
  • Client terminated several leaders including the President, COO/CFO
  • Client required a quick assessment of organization capacity to perform, along with recommendations to get back on track
  • Client required revised budget for upcoming fiscal year, and it had to be developed in a collaborative way
  • Client required revised debt structure to accommodate changes in business environment

Role:

Interim COO/CFO

Outcomes or Benefit:

  • Served as interim COO and CFO and instituted many remediative processes
  • Provided Board with strategic analysis of the University within the first three weeks to set the case and path for immediate change
  • Devised and launched collaborative budget process resulting in a reduction of operating budget by approximately 15%
  • Restructured existing debt arrangements
  • Identified significant risk in the Information technology area
  • Established capital monitoring for new and significant classroom building on campus
  • Evaluated sale of excess real estate assets
  • Mothballed several dormitories to reduce operating costs
  • Advised interim and incoming president on strategic and urgent matters and built and executed plan to deal with urgent maters
  • Restructured Finance and accounting organization
  • Developed cash management and forecasting capability
  • Performed analysis of outsourcing several functions, and selected several that proved to both increase service levels and reduce costs

 

NOTE:

Client names are not used because of Client privacy and Confidentiality Agreements.  Similarly, facts are cloaked to preclude people from deducing the Client name or situation.

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