University of San Diego Strategic Plan Annual Report 2021-22

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Goal 3: Improving Structural and Operational Effectiveness

Renaissance Plan See Goal 3 KPI J

Strideto2024@USD and New Budget Model See Goal 3 KPIs E, G and I

In December 2021, the USD Board of Trustees Chair Don Knauss and

StrideTo2024@USD includes three key elements: a series of initiatives

his wife, Ellie, increased their commitment to the business school to

to enhance efficiencies and achieve savings, the Comprehensive

$50 million. The Knauss Center for Business Education which will house

Administrative Review (CAR) process and the budget redesign process.

the Knauss School of Business — where business meets purpose — will

The 2024 goal is to reallocate a minimum of $15 million to enhance

open in August 2022. Its 120,000 square feet are intentionally designed

student financial aid, attract and retain top talent and advance new

to create an innovation and collaboration ecosystem that empowers

strategic initiatives. As of June 30, 2022, $15 million, or 100%, of

student experiences. Groundbreaking technology includes active learning

savings has been identified through a combination of the CAR process

classrooms, data analytics labs, a production studio, student start-up

and efficiency initiatives; additionally, the university recognized and

incubator spaces and dozens of collaboration spaces. Another exciting

redirected $11.7 million, or 78%, of those savings toward key priorities.

project announced this year was the approval to build a Wellness Center

Consistent with the stated goals, $3.3 million was directed to enhance

and Athletic Practice Facility. In addition, Olin Hall renovations will be

student financial aid and $3.0 million was to support the Horizon

completed in Fall 2022.

Project strategic initiative. Additionally, as a result of the momentum

Increase Endowment and Student Scholarships See Goal 3 KPI H

under StrideTo2024@USD in fiscal 2022, the university was able to

As of May 31, 2022, in academic year 2021-22,

was able to reinstate USD's 10% contribution to 403(b) accounts after

USD raised more than $67.8 million, which includes $30.6 million for endowed funds, $4.3 million for endowed scholarships and $4.0 million for current-use scholarships. In particular, development raised over $1.2 million for Horizon Project scholarships which the university will match to provide scholarships

accelerate the timeline for faculty, staff and administrator compensation adjustments by two and a half years, redirecting $5.4 million toward employee salaries to attract and retain top talent. Also, the Board this was put on hold during the pandemic. The Budget Model Redesign process, designed to move USD from an incremental budget model to an incentive-based model, remains in progress with the hold-harmless year planned for fiscal 2023. The new incentive model will provide a transparent and accountable budget process that facilitates the growth of the academic and auxiliary programs.

for underserved populations.

Strategic Plan and SIG Annual Report 2021-22

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