abhe 2015 dashboards and benchmarks
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© 2014 KSM Business Services, Inc.
Metrics and Ratios for Higher Education
ABHE National Conference October, 2015
Nick Wallace, CPA Managing Director for Higher Education Services
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▪ Dashboards▪ Benchmarking▪ Questions and Answers
AGENDA
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▪ At their best when they:▫ Summarize/simplify complex data ▫ Highlight key performance drivers▫ Display graphically (Maybe even digitally)▫ Highlight pending problems
“You see, but you do not observe.”
Sir Arthur Conan Doyle (1859-1930), (Sherlock Holmes) A scandal in Bohemia, 1892
Dashboards for Higher Education
Less is Better
Focus on KPI
GRAPHICS!
Boards live in the future
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▪ At their worst when they are:
▫ Too comprehensive
▫ Focused on history
▫ Used as an apologetic for the past
Dashboards for Higher Education
They are ill discoverers that think there is no land, when they can see nothing but sea Sir Francis Bacon (1561-1626)
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▫ Provide concise analysis derived from available data.▫ Narrow the focus to important issues and key areas.▫ Explain trends, benchmarks, and targets clearly.▫ Demonstrate the impact on decision making.▫ Stimulate questions that explore issues beyond the data alone.
Ground Rules for Dashboards
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Suggestions For The Key Areas▪ Financial▪ Admissions▪ Enrollment▪ Faculty▪ Student Outcomes
▪ Student Engagement▪ Academics▪ Physical Plant▪ Student Satisfaction▪ External Ratings
http://agb.org/trusteeship/2011/januaryfebruary/the-most-common-performance-indicators-for-institutions-and-their
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Common Dashboard Indicators - Financial
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Common Dashboard Indicators-Admissions
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Common Dashboard Indicators-Enrollment
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KEY STEPS FOR EFFECTIVE DASHBOARDS
ContextPerceiving the data
Presentation
Presenting the data
Data
Procuring the data
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Context – User Understanding? Without sufficient context, more data does not equal more understanding.
1. Do administrators and boards fail to make good decisions because of a lack of information, or a lack of context?
2. Do decision makers battling competing priorities have sufficient time to establish the correct context for the data you present?
3. Do different users, from "accountants to theologians”, with varying needs and capabilities viewing the same data come to the same conclusion?
4. Do emotions such as apathy or fear block decisions makers from accepting and using
new tools? Context
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Data – How Much and What Items?
Data
Resolves Questions
Accurate and TimelyRelevant to Responsibility
Linked to Mission
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Data: Linked to MissionSAMPLE ASSESSMENT REPORT 1999-2000 Goals vs. Performance
STUDENTS: Attract students who can take full advantage of, and contribute richly to, this learning-centered environment, students who are academically capable and will benefit from the diversity of past experience and current interests among them. Goal Area Goal Performance Year-End
Status Enrollment 1020 new students 1031 Exceeded Quality 1060 SAT, 3.1 GPA 1061 SAT; 3.12 GPA Exceeded Diversity 15% minority
enrollment 15% Completed
Persistence 81% 78.8% Not met Four-Yr Graduation Rate
50% 40.6% Not met
Job Placement Rate 90th percentile 91st percentile Exceeded Longwood University
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Resource Sufficiency and
Flexibility
Primary Reserve Ratio
Are resources sufficient and
flexible enough to support the
mission?
Operating Results
Net Income Ratio
Is the organization living within its
means?
Balance Sheet Strength
Equity Ratio
Are the assets of the organization excessively
leveraged with debt?
Data: Resolves Questions
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Data: Relevant to Responsibility (Board)Taylor University Season Statistics Opponents Hitting 1490 At Bats 1426444 Hits 361309 Runs 179274 Runs Batted In 15277 Doubles 719 Triples 1224 Home Runs 15181 Walks 1276 Intentional Walks 12312 Strikeouts 330
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October Meeting: - Student Enrollment
- Student Quality
December Meeting:- Strategic Indicators- Financial Ratios
March Meeting:- Satisfaction Survey- Student Placement
May Meeting:- Faculty Salaries- Staff Salaries
Data: Accurate and Timely
Courtesy of Rick Staisloff, College of Notre Dame
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Suggestions for Successful Dashboards
DESIGN PRINCIPLE
S
Use graphic display.
Tell a story.
Provide acomparative
context.
Avoid jargon
and “budgetspeak.”
Spotlight key
information
.
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Cool, but not useful
More Data
Suggestions for Unsuccessful Dashboards
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Questions on Dashboards?
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▪ Characteristics include:1. Purposeful Comparisons2. Against individual Schools or groups of schools3. Including qualitative and quantitative data4. Focusing on
- Inputs (Money, people, etc.)- Process (Programs)- Outcomes/Impact (What happened)
5. Based on a desire to be “Typical”, “Better” or maybe “Best”
Successful Benchmarking
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1. Lack of Value Proposition (If we build it will they come?)2. Misunderstanding the environment (Expectations)3. Wrong data sets (Failing to choose good, too many or
too few comparisons)4. Failure to launch (Never gets off the gorund)
Challenges to Benchmarking
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1. Audit your situation2. Select your measures3. Form internal groups4. Collect the data5. Monitor the outcomes6. Use the Results7. Adjust the process
Steps in Benchmarking
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▪ Utilizing Seven Critical Success Factors:▫ Distinguished Faculty ▫ Stellar Programs▫ Distinctive Students ▫ Viable Financials▫ Strategic partnerships▫ Vibrant Community▫ Culture of Quality
Taylor University Report Card
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Compensation Ranking
Overall Satisfaction Terminal
DegreeMinority Spiritual
Commitment
Executive Dashboard - Faculty
CCC FY 15
5/10
Faculty
Institution H
Institution L
77%
4/10
5/10
90%
77%
HERI 2014 US News and World Report
Institution H 96%Institution L 65%
88%
88%
80%
79%
81%
IPEDS 2013
3.2%
HERI 2013
Institution H 13.5%Institution L 3.2%
6.6%
3.2%
100%
99%
6.6% 100%
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▪ Students▫ Enrollment Headcount▫ ACT Scores▫ Minority▫ Average Debt▫ Academic FTE
Executive Dashboard – The Rest
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▪ Financial▫ University Discount Rate▫ Revenue FTE▫ Composite Financial Index▫ Endowment (In total dollars)▫ Annual Fund
Executive Dashboard – The Rest
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▪ Measures of Success and Satisfaction▫ Spirituality▫ Church Attendance Weekly▫ Retention▫ Athletic Ranking▫ Graduation Rate▫ Alumni Giving▫ Prepared for employment▫ Prepared for Grad School▫ Global Engagement
Executive Dashboard – The Rest
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▪ Quick Reality Check Questions:▫ Is your board and top management satisfied with the
information it currently receives?▫ Does the board and top managers feel they need more
meaningful measures of performance or mission effectiveness?
▫ Does the board and top management know what these measures should be?
▫ What kind of data is currently being compiled and could be used to address the needs?
▫ How difficult would it be to provide the data to fuel the desired dashboard measures?
Are You Ready?
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Resources• The Nonprofit Dashboard, A tool for tracking progress by
Lawrence M. Butler (Boardsource)
• Using Performance Measurement to Improve Public and Nonprofit Programs by Kathryn E. Newcomer (Jossey-Bass)
• Financial Planning and Evaluation for the Nonprofit Organization by Anthony Gambino and Thomas Reardon (National Association of Accountants)
• Benchmarking in Higher Education, Adapting Best Practices to improve Quality by Jeffrey Alstete (Association for the Study of Higher Education Report no. 5)
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Questions?