![President’s Council Delves into Cost-Saving Options](/news/images/megaphone-chalkboard-header.jpg)
The President’s Leadership Council continued its work on potential cost-saving measures at its Oct. 22 meeting. The council has identified 13 options to explore and will be discussing advantages, disadvantages, and financial implications of each in the coming weeks. Ideas under consideration are:
- Reducing employer contributions to health plans and/or optional retirement plans
- Extending computer refresh program for employees
- Implementing mandatory two-day, employee furloughs (one-time savings)
- Offering a faculty early retirement program
- Targeted layoffs
- Moving to a high-deductible health plan as a base plan
- Modifying the employee/dependent tuition waiver
- Changing faculty workload, sections offered, adjunct costs, and/or course releases for research
- Setting targets for reducing expenses and letting units decide how to implement
- Identifying opportunities for outsourcing or external shared services
- Eliminating contracted services with a low return on investment
- Permanently reducing travel and/or restricting faculty conference travel
- Reviewing Athletics for cost-reduction ideas
The council’s discussions are part of a university-wide effort to identify cost-saving measures to address UNC’s $10-million structural deficit. In addition, the three task forces convened by Provost Theo Kalikow to focus on improving student outcomes, reducing the equity gap, realigning student affairs functions, and examining the academic portfolio are seeking to identify resource savings. The university will also be looking carefully at each administrative function.
While cost-savings will likely be the primary means of eliminating the deficit, the
council is also focusing on revenue generation. At its Oct. 8 meeting, the committee
discussed recent brand positioning work that will be shared with campus for feedback
later this semester. At the Oct. 22 meeting, President Andy Feinstein updated the
council on potential consulting services to expand the university’s capacity for strategic
enrollment management and student retention. This work would help with assessing UNC’s
market position and recruiting practices, researching price elasticity, advising on
pricing and discounting, and linking recruiting, pricing and discounting with student
success work to improve retention and graduation rates.
For more information about the council, visit e3qo.500hudson.com/president
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