President

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Presidents ReportVision, Progress, Challenges

• WPI Board of Trustees
• Winter Retreat
• February, 2006

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Vision 2015 (Updated)

• By 2015, WPI will have
• Strengthened core competencies in engineering,
  science, technology, and management, with special
  strengths and leadership in such areas as
• Life Sciences and bioengineering
• Entrepreneurship and business development
• Media, technology, and communication
• Environmental engineering and science

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Vision 2015

• Undergraduate enrollment of 3400-3600
• (versus 2851 currently)
• Graduate enrollment of 1600
• (versus 1018 currently)
• Research funding of 40 million
• (versus 12.8 million in FY 2005)
• Unrestricted gifts of 5 million annually
• (versus 1.8 million currently)

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Vision 2015

• BA programs in selected fields within the
  humanities, arts, and social sciences
• Increased the percentage of undergraduates living
  on campus to 70 (2450 vs. 950), in
• New residence facilities (apartment style)
• A School of Management with a fulltime, one-year
  MBA Program and a separate building
• Renovated Gordon Library

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Vision 2015

• Completed WPI Gateway Park, a life-science and
  technology-based development with
• WPI Life Science (whole) Departments
• BioEngineering Institute Offices and Programs
• Bio-engineering related corporate tenants
• WPI graduate housing
• WPI-based programs in education, training,
  technology commercialization, and business
  incubation

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Vision 2015

• Newly constructed sports and recreation center
• Renovated Alumni (Gym) Hall, housing academic or
  administrative personnel
• Renovated Stratton Hall, housing academic
  programs (Math/Humanities and Arts?)
• Renovated Goddard and Salisbury Labs, with
• integrated undergraduate labs, additional class-
• rooms, and improved faculty office space.

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Vision 2015

• Higgins House developed as Alumni Center
• Parking for 600 cars in indoor garage
• Little Theatre
• National Ranking in top 40-50
• Faculty of 260 (versus 220 currently)
• Endowment of 750 million (versus 345 m)
• Tuition discount factor of 35-38

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Vision 2015

• Reputation centered on
• Project-enriched, world-class education preparing
  students for achievement, leadership and
  fulfillment
• Excellent research focused on important problems
  and critical technologies and science
• Driver of technology commercialization
• Culture supportive of women faculty and students
• Ethical, diverse, principled, stimulating
  community
• Civic responsibility and leadership

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Progress

• 2004 Budget Unfortunate History
• Operating deficit of 3 million
• Reduction in Force
• Tuition discount of 46 for freshman class
• Unrealistic revenue projections
• Summer Term
• Extended Education
• Unbudgeted Expense

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Progress

• FY 2005 Budget Closing the Gap
• Closed modestly in balance (5,000 surplus)
• Provided no salary or wage increases
• Continuation of unrealistic revenue projections
• Discount on tuition 48 for freshmen
• Continuation of certain unbudgeted expense
• Structural deficits in expense lines

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Progress

• FY 2006 Budget Securing the Base
• Provided for salary increases ( 1.5 m _at_ 3)
• Increased debt service (1 m)
• Increased cost of upper class financial aid (2.4
  m)
• Increased utility costs (2.0 m)
• Fund unbudgeted items (500k)
• Adjust revenue projections to realistic levels
  (500k)
• Decreased yield from endowment (500k)

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FY 2006 Budget Securing the Base

• Three imperatives
• Balance the operating budget
• Costs of further deficits unacceptable
• Fund salary increases for faculty and staff
• Must reward strong performance
• Avoid further layoffs
• Loss of morale outweighs savings

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FY06 Budget Securing the Base

• Means of achievement
• Reduce payroll via attrition early retirements
• Cut other operating expense
• Adjust financial aid policy decrease discount
• Increase tuition (4.9)
• Increase enrollment (graduate, summer)
• Currently Projected to Close in Balance

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FY07 and Beyond Building Strength

• Key Strategies and Implementation to Date
• Improve marketing, to expand the applicant pool
  and increase recognition
• Formed Division of Marketing and Communications
• Recruited experienced VP (Chris Hardwick)
• Moved Web Development Office to Marketing Comm.
• Increased promotion of faculty research (news
  bureau)
• Presidents role in thought leadership
• Cultivate contacts in national and international
  media

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Building Strength

• Strengthen Enrollment Management
• Formed Division of Enrollment Management
  containing
• Admissions, Financial Aid, and Registrars
  Office
• Headed by Kristin Tichenor, Assoc. VP (internal
  promotion from Director of Undergraduate
  Admissions)
• Hired Maguire Associates to consult on financial
  aid
• Applications for fall, 2006, up 50 from 2005
• FA discount decreased from 48 to 41.5 for class
  entered fall, 2005

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Building Strength

• Strengthen University Advancement
• Steve Hebert (University VP) and Dennis Berkey
  focusing on top prospect cultivation
• Recruited experienced VP for Advancement
• (Dexter Bailey)
• Appointed strong AVPs (Beth Howland, Lisa
  Maizite)
• Strengthen relationship with alumni
• Regional Clubs
• Class agents
• Career development assistance/network
• Stronger value proposition for alumni

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Building Strength

• Strengthen financial management
• Recruited new CFO (Jeffrey Solomon)
• Integrated operating and capital budgeting
• Better understanding of academic budgeting
• Quarterly expense budget monitoring and reporting
  
• Develop Strong Extended Education Program
• Recruited experienced Dean (Stephen Flavin)
• Consolidated Corporate Ed, Seminars, Distance Ed
• Reports to the Provost
• Clarify and strengthen faculty incentives

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Building Strength

• Strengthen Academic Programs
• Appoint a Dean of Undergraduate Studies
  (Internal)
• Improve the first year experience and general
  education
• Strengthen core programs in engineering, science
• Further develop life sciences and bioengineering
• Better use and integration of technology in
  teaching
• Emphasis on creativity, innovation, and
  entrepreneurship
• Add new academic programs
• Robotics, Environmental Engineering, IMGD,
  Bioinformatics
• BA degrees

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Building Strength

• Improve Campus Facilities
• Power Plant, Little Theatre projects complete
• Bartlett Center to open in May, 2006
• WPI Life Sciences and Bioengineering Center at
  Gateway Park under construction, due to open in
  spring, 2007
• Renovations of Goddard labs for undergraduate
  science instruction to follow (Alden Trust
  funding)
• Recreation and Athletics Complex a top priority
• Renovations to Gordon Library, Salisbury Labs,
• Stratton Hall

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Near-term priorities

• Strengthen undergraduate applicant pool
• Recruit strong faculty
• Properly develop Gateway Park
• Plan for the next Campaign
• Cultivation of potential major donors
• Capital Projects (Recreation Center, building
  renovations)
• Endowed Professorships for Faculty
• Build non-tuition revenue streams
• Extended Education
• Sponsored Research

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Current Giving Opportunities

• Endowed Professorships
• 2 million
• Renovation of Alumni Field
• 1.5 million
• Air-conditioning for Alden Hall
• 1.2 million

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Action Items for Board Retreat

• Consideration of role of innovation and
  entrepreneurship in curriculum and programs
• Review progress/advise on Gateway Park and ratify
  Exec. Comm. vote for addl investment in parking
• Approval of proposed tuition and fee increases
  and related budget parameters
• Engagement with work of Presidential Commissions
• Awarding of Tenure and Promotion
• Review of Board Governance and Organization
• Interaction with faculty and students

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