WEBVTT 00:00:00.000 --> 00:00:03.000 Ryan Hagemann: It's my distinct honor to introduce our first candidate. 00:00:03.000 --> 00:00:07.000 Dr. Ana Karaman is an accomplished higher education administrator 00:00:07.000 --> 00:00:11.000 with broad and diverse experience in institutional planning, finance, budget 00:00:11.000 --> 00:00:15.000 and operations at both public and private non-for-profit universities. 00:00:15.000 --> 00:00:20.000 She has held progressively responsible financial management positions at four universities 00:00:20.000 --> 00:00:22.000 including Stanford University, 00:00:22.000 --> 00:00:24.000 the University of San Francisco, 00:00:24.000 --> 00:00:26.000 the University of Washington at Bothell 00:00:26.000 --> 00:00:28.000 and presently Webster University. 00:00:28.000 --> 00:00:32.000 Dr. Karaman comes to her position from the faculty 00:00:32.000 --> 00:00:36.000 where she served as an assistant professor of political science at Stanford University. 00:00:36.000 --> 00:00:40.000 Dr. Karaman has her law degree from Far Eastern State University, 00:00:40.000 --> 00:00:42.000 in Vladivostock, Russia, 00:00:42.000 --> 00:00:45.000 and her MS in criminal justice, and PhD in political science 00:00:45.000 --> 00:00:48.000 from the University of Wisconsin-Milwaukee. 00:00:48.000 --> 00:00:51.000 Today she will share some comments and entertain questions on the topic 00:00:51.000 --> 00:00:56.000 please discuss the opportunities andchallenges facing a public comprehensive 00:00:56.000 --> 00:00:58.000 masters university in the 21st century 00:00:58.000 --> 00:00:63.000 and the strategies and tactics a vice president for finance and administration 00:01:03.000 --> 00:01:06.000 can deploy to embrace the opportunities 00:01:06.000 --> 00:01:08.000 and overcome the challenges. 00:01:08.000 --> 00:01:11.000 00:01:11.000 --> 00:01:15.000 Applause. 00:01:15.000 --> 00:01:17.000 Dr. Karaman: Well, thank you everyone. 00:01:17.000 --> 00:01:20.000 It's such a welcoming environment. 00:01:20.000 --> 00:01:22.000 Thank you for your hospitality. 00:01:22.000 --> 00:01:24.000 What a wonderful, beautiful campus you have, 00:01:24.000 --> 00:01:27.000 and what wonderful students. 00:01:27.000 --> 00:01:31.000 To start out, I just want to say that yesterday I met with the students, 00:01:31.000 --> 00:01:34.000 and I always have the same questions: 00:01:34.000 --> 00:01:38.000 would you recommend your family and friends to come to the Western? 00:01:38.000 --> 00:01:40.000 And they said absolutely. 00:01:40.000 --> 00:01:42.000 And this is a mark of success. 00:01:42.000 --> 00:01:47.000 If your current students will recommend the institution to their family and friends, 00:01:47.000 --> 00:01:51.000 then something good is happening here without question. 00:01:51.000 --> 00:01:54.000 Now, on a little bit different topic, if some of you are wondering 00:01:54.000 --> 00:01:57.000 what is an attorney, a criminal justice, 00:01:57.000 --> 00:01:62.000 and a poly sci major doing running business and finance, 00:02:02.000 --> 00:02:06.000 I just want to reassure that I know what I'm doing. 00:02:06.000 --> 00:02:11.000 And as a matter of fact, this March, I'll be graduating with my MBA, 00:02:11.000 --> 00:02:14.000 just to make everyone to feel at ease. 00:02:14.000 --> 00:02:18.000 Chuckles. 00:02:14.000 --> 00:02:18.000 So, um, 00:02:18.000 --> 00:02:21.000 There you have the topic for discussion: 00:02:21.000 --> 00:02:24.000 challenges and opportunities. 00:02:24.000 --> 00:02:28.000 What's happening in higher ed, and especially how it's face the comprehensive 00:02:28.000 --> 00:02:33.000 master's level institution such as Western. 00:02:33.000 --> 00:02:35.000 So I've been thinking about the topic, 00:02:35.000 --> 00:02:40.000 and I'm trying to figure out how we can make it more of a conversational 00:02:40.000 --> 00:02:43.000 so we can have follow up with questions and comments. 00:02:43.000 --> 00:02:48.000 And I thought that the best way to do is for me to share my thoughts. 00:02:48.000 --> 00:02:52.000 So what, how I think about this situation 00:02:52.000 --> 00:02:57.000 and where I see I can apply my expertise 00:02:57.000 --> 00:02:59.000 and my talents and my skills 00:02:59.000 --> 00:02:62.000 to move institution like Western forward. 00:03:02.000 --> 00:03:06.000 So I'm going to start with the outlining challenges 00:03:06.000 --> 00:03:08.000 kind of on a very high level. 00:03:08.000 --> 00:03:10.000 You all know them. 00:03:10.000 --> 00:03:15.000 I'm sure you all follow publications inside the high ed, the Chronicle of Higher Ed. 00:03:15.000 --> 00:03:17.000 We all hear it, you know, every day. 00:03:17.000 --> 00:03:20.000 There is some news that's very concerning. 00:03:20.000 --> 00:03:28.000 And we all know that challenges can boil up to probably these three primary topics. 00:03:28.000 --> 00:03:31.000 One is that there is a pressure on all sources of revenues. 00:03:31.000 --> 00:03:34.000 So if we talk a little bit more about that, 00:03:34.000 --> 00:03:36.000 it's not a secret that public institutions 00:03:36.000 --> 00:03:40.000 become much more like private, not-for-profits, 00:03:40.000 --> 00:03:45.000 when most of the revenues are now generated from tuition and fees, 00:03:45.000 --> 00:03:49.000 as opposite some years ago when it was from state appropriation. 00:03:49.000 --> 00:03:54.000 So I believe Western right now is somewhere about a 70/30 split, 00:03:54.000 --> 00:03:55.000 somewhere about that, 00:03:55.000 --> 00:03:58.000 that 70% is about tuition and fees, 00:03:58.000 --> 00:03:61.000 and then 30% would be state appropriations. 00:04:01.000 --> 00:04:07.000 So, there is also obviously pressure on how much tuition and fees 00:04:07.000 --> 00:04:11.000 can be raised because there is a clear ceiling to 00:04:11.000 --> 00:04:14.000 by how much we can increase tuition and fees 00:04:14.000 --> 00:04:18.000 and still provide affordable and accessible education. 00:04:18.000 --> 00:04:23.000 So, then there is changes in student demographics, 00:04:23.000 --> 00:04:30.000 which clearly go beyond just changes in high school enrollments. 00:04:30.000 --> 00:04:32.000 We know that high school enrollments are down. 00:04:32.000 --> 00:04:35.000 A lesser number of high school graduates coming, 00:04:35.000 --> 00:04:40.000 and therefore becoming prospect students in colleges and universities, 00:04:40.000 --> 00:04:42.000 but there is also change in demographics. 00:04:42.000 --> 00:04:45.000 There is a much greater minority. 00:04:45.000 --> 00:04:49.000 Latinos becoming a great percentage of the population. 00:04:49.000 --> 00:04:56.000 I want to tell you or share with you that I'm soon will be grandmother. 00:04:56.000 --> 00:04:60.000 And my son is married to a woman from Guadalajara, 00:05:00.000 --> 00:05:03.000 and I'm going to have Russian/Mexican grandchildren. 00:05:03.000 --> 00:05:10.000 So, I'm living this experience, of you know, that we are become this mixed population. 00:05:10.000 --> 00:05:11.000 So, which is, of course. 00:05:11.000 --> 00:05:14.000 I'm panicking because I need to, you know, brush up my Spanish 00:05:14.000 --> 00:05:17.000 and become fluent in it because my daughter-in-law 00:05:17.000 --> 00:05:21.000 has said that the grandchildren will speak inSpanish, so it's a sign. 00:05:21.000 --> 00:05:27.000 But there's - on a serious note - there's a change in student demographics. 00:05:27.000 --> 00:05:31.000 We have much greater influx of first generation students, 00:05:31.000 --> 00:05:33.000 students from disadvantaged backgrounds, 00:05:33.000 --> 00:05:37.000 so and we need to be able to provide them with education, 00:05:37.000 --> 00:05:39.000 and also with services, 00:05:39.000 --> 00:05:42.000 and make sure that they're successful and complete their degrees. 00:05:42.000 --> 00:05:45.000 And then there's a much higher level. 00:05:45.000 --> 00:05:50.000 It's a question of value of college education altogether. 00:05:50.000 --> 00:05:52.000 You know, there's more questions in the public. 00:05:52.000 --> 00:05:55.000 Why we investing in higher ed? 00:05:55.000 --> 00:05:60.000 Why do we have to pay for these degrees if our kids cannot then get jobs? 00:06:00.000 --> 00:06:03.000 There's a question of upward mobility. 00:06:03.000 --> 00:06:07.000 You know, there is lots of studies that now showing that 00:06:07.000 --> 00:06:11.000 kids might not be more successful than their parents, 00:06:11.000 --> 00:06:14.000 even though they have college degrees. 00:06:14.000 --> 00:06:17.000 So there is a big question about value. 00:06:17.000 --> 00:06:20.000 Is there truly a value added in college degree, 00:06:20.000 --> 00:06:24.000 or is it necessary to be successful in the workforce? 00:06:24.000 --> 00:06:26.000 Is it necessary to be successful in life? 00:06:26.000 --> 00:06:32.000 So all those big questions kind of create a challenges for institution like Western. 00:06:32.000 --> 00:06:33.000 What's our place? 00:06:33.000 --> 00:06:34.000 What do we do? 00:06:34.000 --> 00:06:36.000 How we deal with that? 00:06:36.000 --> 00:06:38.000 So... 00:06:39.000 --> 00:06:45.000 when I think about those things, I identify what I in my mind, 00:06:45.000 --> 00:06:48.000 think of as a prime challenge. 00:06:48.000 --> 00:06:53.000 So, what I say, what is the cause, kind of, of the root challenge, of all of this. 00:06:53.000 --> 00:06:57.000 And for me, it is that we reach a point where there is 00:06:57.000 --> 00:06:66.000 no consensus or no clarity on what does it really mean to be a college educated person? 00:07:06.000 --> 00:07:11.000 What's the value added of a college education? 00:07:11.000 --> 00:07:13.000 You know, some years ago, it was very clear 00:07:13.000 --> 00:07:17.000 that when a degree meant this was evaluated you got a degree. 00:07:17.000 --> 00:07:19.000 Now with all those questions. 00:07:19.000 --> 00:07:22.000 You know, we do not know what it now, 00:07:22.000 --> 00:07:28.000 and we definitely do not know what it would mean 5, 10, 15 years from now. 00:07:28.000 --> 00:07:32.000 When we ask what it would mean for someone to get a degree 10 years from now, 00:07:32.000 --> 00:07:36.000 that, a college educated person who is successful in life, 00:07:36.000 --> 00:07:38.000 successful in workforce, 00:07:38.000 --> 00:07:41.000 we do not have consensus on that. 00:07:41.000 --> 00:07:45.000 And that creates a major challenge in my mind 00:07:45.000 --> 00:07:47.000 because it doesn't provide the direction. 00:07:47.000 --> 00:07:49.000 When you know what's the problem, 00:07:49.000 --> 00:07:52.000 when you can diagnose a problem, 00:07:52.000 --> 00:07:55.000 then you can prescribe a treatment. 00:07:55.000 --> 00:07:57.000 But when you cannot diagnose a problem, 00:07:57.000 --> 00:07:59.000 then how do you prescribe a treatment? 00:07:59.000 --> 00:07:62.000 I think I told in some of our meetings that, you know, 00:08:02.000 --> 00:08:04.000 my husband is a medical doctor, 00:08:04.000 --> 00:08:06.000 and one thing that I learned from him is that, 00:08:06.000 --> 00:08:10.000 you know, prescription without diagnosis is malpractice. 00:08:10.000 --> 00:08:14.000 So, and as we tried to address all those challenges, 00:08:14.000 --> 00:08:15.000 kind of the root of it, 00:08:15.000 --> 00:08:16.000 why are we here? 00:08:16.000 --> 00:08:18.000 What's our goal? 00:08:18.000 --> 00:08:20.000 So, um... 00:08:21.000 --> 00:08:24.000 as I think about that, 00:08:24.000 --> 00:08:26.000 then I always, 00:08:26.000 --> 00:08:28.000 I'm an optimist by my personality, 00:08:28.000 --> 00:08:32.000 and I always try to find the positive in anything that happens, 00:08:32.000 --> 00:08:35.000 and I think well, you know, where is there opportunities? 00:08:35.000 --> 00:08:40.000 How we can take this liability and turn it into an asset? 00:08:40.000 --> 00:08:41.000 How we can take the challenge 00:08:41.000 --> 00:08:44.000 and make an opportunity out of it? 00:08:44.000 --> 00:08:47.000 So the way I think about it, from a bigger perspective, 00:08:47.000 --> 00:08:51.000 I try to think, where are we historically in higher ed? 00:08:51.000 --> 00:08:55.000 And I say, well you know, going back to my background as an academic, 00:08:55.000 --> 00:08:60.000 I think, well you know, we always talk in academia about scientific revolution, 00:09:00.000 --> 00:09:02.000 about paradigm change, paradigm shift, 00:09:02.000 --> 00:09:08.000 and I think that we right now in higher education are kind of facing that paradigm change. 00:09:08.000 --> 00:09:11.000 When higher education is coming to a point 00:09:11.000 --> 00:09:15.000 when the way how it was perceived and viewed 00:09:15.000 --> 00:09:19.000 is not necessarily widely accepted anymore. 00:09:19.000 --> 00:09:20.000 There are questions about that. 00:09:20.000 --> 00:09:26.000 So then I think in, you know, borrowing from another philosopher who said, 00:09:26.000 --> 00:09:31.000 well how do you survive in a state of change? 00:09:31.000 --> 00:09:35.000 So if the current state of higher education is the change of paradigm 00:09:35.000 --> 00:09:39.000 and we do know from what we read that the universities do close down, 00:09:39.000 --> 00:09:41.000 they do go out of business. 00:09:41.000 --> 00:09:42.000 How do you survive? 00:09:42.000 --> 00:09:46.000 Borrowing from Henry Bergson, a French philosopher, 00:09:46.000 --> 00:09:50.000 we know that to exist is to change, 00:09:50.000 --> 00:09:53.000 to change is to mature, 00:09:53.000 --> 00:09:57.000 to mature is to go on creating oneself endlessly. 00:09:57.000 --> 00:09:60.000 And that, to me, such a powerful statement, 00:10:00.000 --> 00:10:04.000 because, change is not bad. 00:10:04.000 --> 00:10:06.000 Change is a sign of maturity. 00:10:06.000 --> 00:10:09.000 Change is a sign of development 00:10:09.000 --> 00:10:11.000 and is going to happen continuously. 00:10:11.000 --> 00:10:15.000 And I think in higher ed we became very comfortable with what we knew 00:10:15.000 --> 00:10:18.000 and how is delivered and what higher ed looks like. 00:10:18.000 --> 00:10:26.000 That now we kind of do not necessarily view it as an opportunity to change ourself. 00:10:26.000 --> 00:10:28.000 So if we believe that, 00:10:28.000 --> 00:10:33.000 that applying it to higher ed, 00:10:33.000 --> 00:10:35.000 one of the, you know, there is lots of publications right now, 00:10:35.000 --> 00:10:37.000 where institutions need to go, 00:10:37.000 --> 00:10:39.000 how to avoid you know, 00:10:39.000 --> 00:10:43.000 Sweet Briar phenomenon when the institution closes 00:10:43.000 --> 00:10:46.000 despite all the struggles to continue to survive, 00:10:46.000 --> 00:10:49.000 and um, 00:10:49.000 --> 00:10:53.000 in one of his publications, um, Richard DeMille said 00:10:53.000 --> 00:10:59.000 that one of the greatest mistakes that institutions do is that they allow their strategy 00:10:59.000 --> 00:10:61.000 to determine their brand. 00:11:01.000 --> 00:11:05.000 In other words, they kind of think of themselves in terms of stereotypes. 00:11:05.000 --> 00:11:08.000 We're this type of an institution. 00:11:08.000 --> 00:11:10.000 And as that type of an institution, 00:11:10.000 --> 00:11:12.000 this is what we're supposed to do. 00:11:12.000 --> 00:11:17.000 This is our place in the overall kind of, the world of higher ed. 00:11:17.000 --> 00:11:22.000 So and that applies to obviously comprehensive master level institution, who we are. 00:11:22.000 --> 00:11:26.000 Well, we are comprehensive, we are public, we are master level. 00:11:26.000 --> 00:11:29.000 Those are the things that we do, this is how we deliver them. 00:11:29.000 --> 00:11:33.000 So and what Richard DeMille has is so powerful to me 00:11:33.000 --> 00:11:38.000 because he said for a mature institution, it's not a brand that determines what you want to do. 00:11:38.000 --> 00:11:42.000 It's actually what you want to do, your desire. 00:11:42.000 --> 00:11:48.000 And when I think about Western, to me it's avery clear example that a mature institution 00:11:48.000 --> 00:11:51.000 that's been here before the state of Oregon, 00:11:51.000 --> 00:11:52.000 let's not forget it, 00:11:52.000 --> 00:11:58.000 that now in a situation when it was granted autonomy with the system being dissolved, 00:11:58.000 --> 00:11:62.000 that allows us to select its own way and say, 00:12:02.000 --> 00:12:07.000 we don't have to be stereotyped or put in a box as a master level, 00:12:07.000 --> 00:12:10.000 you know, comprehensive institution. 00:12:10.000 --> 00:12:17.000 We can select our own way because we mature and we will develop ourself endlessly. 00:12:17.000 --> 00:12:18.000 We will continue to reinvent ourselves. 00:12:18.000 --> 00:12:21.000 We'll continue to improve. 00:12:21.000 --> 00:12:24.000 So this is kind of my, so you understand where I'm coming from, 00:12:24.000 --> 00:12:28.000 kind of view of what's happening in higher ed and how institutions 00:12:28.000 --> 00:12:31.000 as Western fit in the current situation. 00:12:32.000 --> 00:12:37.000 So, then if I take it to a little bit lower level, 00:12:37.000 --> 00:12:42.000 what could be done in a situation like that when we redefine ourselves? 00:12:42.000 --> 00:12:46.000 I say, well, what are the areas where we really need to work to develop 00:12:46.000 --> 00:12:48.000 new ways of doing things? 00:12:48.000 --> 00:12:51.000 And one is, 00:12:51.000 --> 00:12:57.000 we always know that public comprehensive institutions are known for being an enabler, 00:12:57.000 --> 00:12:60.000 for upward social mobility. 00:13:00.000 --> 00:13:03.000 We say we are here to serve our residents in the state. 00:13:03.000 --> 00:13:07.000 We're here to provide them with an education, provide them with educational opportunities, 00:13:07.000 --> 00:13:10.000 but that's being questioned now. 00:13:10.000 --> 00:13:12.000 So how we can redefine it? 00:13:12.000 --> 00:13:15.000 How we continue to be an engine, 00:13:15.000 --> 00:13:18.000 an enabler of upward social mobility? 00:13:18.000 --> 00:13:21.000 Because that continues to be an extremely important role for us, 00:13:21.000 --> 00:13:23.000 but how we can do it in different ways. 00:13:23.000 --> 00:13:28.000 So, um, when we serve student populations that are different, 00:13:28.000 --> 00:13:32.000 when we work with a workforce environment that's completely different, 00:13:32.000 --> 00:13:37.000 when we deal with technology that develops so quickly, how we can still be enabler? 00:13:37.000 --> 00:13:40.000 Then the second thing is how we can deliver our degrees 00:13:40.000 --> 00:13:44.000 that they still affordable and accessible, 00:13:44.000 --> 00:13:48.000 but do not bring institution out of business. 00:13:48.000 --> 00:13:52.000 So we need to deliver them in a financially sustainable way. 00:13:52.000 --> 00:13:54.000 So how do we do it? 00:13:54.000 --> 00:13:57.000 That's kind of another big opportunity to redefine ourselves. 00:13:57.000 --> 00:13:62.000 And then the third one is actually for institution to be 00:14:02.000 --> 00:14:07.000 what they're supposed to be an engine for economic growth 00:14:07.000 --> 00:14:11.000 and an engine for, engine for innovation with in the region. 00:14:11.000 --> 00:14:15.000 So I do believe that it's a very important for every institution 00:14:15.000 --> 00:14:17.000 to know where is it rooted, 00:14:17.000 --> 00:14:19.000 which areas trying to impact, 00:14:19.000 --> 00:14:23.000 where it is the, you know, the enabler, 00:14:23.000 --> 00:14:27.000 the one that moves the whole region forward 00:14:27.000 --> 00:14:29.000 and helps us to redevelop. 00:14:30.000 --> 00:14:35.000 So how would a person in the position of a vice president 00:14:35.000 --> 00:14:39.000 for finance and administration do those things? 00:14:39.000 --> 00:14:45.000 Well, I think it's important for you to understand how I view this role. 00:14:45.000 --> 00:14:49.000 I think the role of a vice president for financial administration 00:14:49.000 --> 00:14:52.000 has been evolving over the recent years. 00:14:52.000 --> 00:14:55.000 It's not anymore just a steward of resources, 00:14:55.000 --> 00:14:59.000 it's not anymore just a person who provides financial expertise. 00:14:59.000 --> 00:14:64.000 It is a person who become a true partner, a true team member 00:15:04.000 --> 00:15:08.000 on developing and implementing the strategy. 00:15:08.000 --> 00:15:11.000 So I think is much more strategic than tactical, 00:15:11.000 --> 00:15:15.000 that I think I see a force and VPFA's are now required of. 00:15:15.000 --> 00:15:17.000 And that's my view of the role. 00:15:17.000 --> 00:15:20.000 So this role is a member of a team. 00:15:22.000 --> 00:15:30.000 Now what that member, that team member, can bring to table when working with other people? 00:15:30.000 --> 00:15:36.000 And I have several principles, ideas, 00:15:36.000 --> 00:15:37.000 you can call them, 00:15:37.000 --> 00:15:40.000 ways of thinking about that. 00:15:40.000 --> 00:15:45.000 So the first one, and I referred to it during my meetings with people before, 00:15:45.000 --> 00:15:50.000 is talking about building partnerships based on principle of radical transparency. 00:15:50.000 --> 00:15:54.000 I picked up the notion of radical transparency from Ray Dalio. 00:15:54.000 --> 00:15:59.000 Ray Dalio is a founder of a Bridgewater Associates. 00:15:59.000 --> 00:15:62.000 This is a largest hedge fund in the world. 00:16:02.000 --> 00:16:05.000 It manages about 160 billion dollars. 00:16:05.000 --> 00:16:11.000 And he started it from his two bedroom apartment in New York. 00:16:11.000 --> 00:16:14.000 And was able, by putting some principles in place, 00:16:14.000 --> 00:16:18.000 to build this largest hedge fund in the world. 00:16:18.000 --> 00:16:20.000 And I know that we usually think about business 00:16:20.000 --> 00:16:23.000 from a negative connotation, especially when it comes to hedgefunds 00:16:23.000 --> 00:16:24.000 and the Wall Street, 00:16:24.000 --> 00:16:26.000 but I was thinking, was, you know, 00:16:26.000 --> 00:16:30.000 if we can apply maybe some of those principles to higher ed, 00:16:30.000 --> 00:16:32.000 maybe we can be prosperous too. 00:16:32.000 --> 00:16:34.000 Maybe it's not that bad to have money, you know? 00:16:34.000 --> 00:16:39.000 Maybe it's not bad to be able to generate funds and while doing public good, 00:16:39.000 --> 00:16:42.000 while bringing public good to people. 00:16:42.000 --> 00:16:45.000 So what is a radical transparency 00:16:45.000 --> 00:16:48.000 and why partnerships should be built on radical transparency? 00:16:48.000 --> 00:16:52.000 Radical transparency essentially says that we all have access to information 00:16:52.000 --> 00:16:55.000 and we're all being honest with each other. 00:16:55.000 --> 00:16:57.000 And I know that you've been doing here at Western, 00:16:57.000 --> 00:16:60.000 I heard a lot about culture change, 00:17:00.000 --> 00:17:01.000 about being transparent, 00:17:01.000 --> 00:17:04.000 about bringing more people to the table when budget is decided, 00:17:04.000 --> 00:17:07.000 when financial issues are decided, 00:17:07.000 --> 00:17:08.000 so, 00:17:08.000 --> 00:17:13.000 and that's something that is very important to me. 00:17:13.000 --> 00:17:17.000 I, you know, I didn't want to be in a situation where we need to keep, 00:17:17.000 --> 00:17:20.000 when if, someone needs to keep two sets of books, three sets of books, 00:17:20.000 --> 00:17:24.000 you know, then you get lost, where you are. 00:17:24.000 --> 00:17:29.000 In order to move forward, we need to have very clear picture of where we stand. 00:17:29.000 --> 00:17:32.000 And a partnership built on radical transparency 00:17:32.000 --> 00:17:36.000 has this honesty of communication among the partners. 00:17:36.000 --> 00:17:39.000 So if I'm talking with the provost, 00:17:39.000 --> 00:17:42.000 the provost know exactly where the institution stands. 00:17:42.000 --> 00:17:45.000 If I'm talking with IT folks, they know where the institution stands. 00:17:45.000 --> 00:17:50.000 So everyone has a clear literacy and understanding of finance and business 00:17:50.000 --> 00:17:52.000 of the institution. 00:17:52.000 --> 00:17:57.000 Now building strong teams through talent development. 00:17:57.000 --> 00:17:64.000 That's another very important strategy for me because if the role of VPFA is changing 00:18:04.000 --> 00:18:09.000 and VPFA is becoming literally a strategic partner, 00:18:09.000 --> 00:18:14.000 then VPFA need to have a strong team that allow to support that. 00:18:14.000 --> 00:18:18.000 And that talent development is extremely important. 00:18:18.000 --> 00:18:20.000 So it's not just, you know, 00:18:20.000 --> 00:18:23.000 running daily reports and daily routines. 00:18:23.000 --> 00:18:24.000 You're thinking of future. 00:18:24.000 --> 00:18:26.000 What's going to be the needs in the future? 00:18:26.000 --> 00:18:28.000 What type of analysis we have to provide? 00:18:28.000 --> 00:18:31.000 What type of a, you know, 00:18:31.000 --> 00:18:37.000 information we would be asked to provide to really be true partners to others. 00:18:37.000 --> 00:18:43.000 So, another one, seeking efficiency through a continuous process improvement. 00:18:43.000 --> 00:18:46.000 We know there is lots of inefficiencies in higher ed. 00:18:46.000 --> 00:18:52.000 Infrastructures and overhead being billed when there was sufficient revenues. 00:18:52.000 --> 00:18:56.000 And quite frankly very often people, whether it was a public institution 00:18:56.000 --> 00:18:58.000 or private not for profit, 00:18:58.000 --> 00:18:60.000 didn't go back and re-thought, 00:19:00.000 --> 00:19:02.000 well is that overhead, 00:19:02.000 --> 00:19:06.000 is that infrastructure still appropriate for the type of revenues that we have? 00:19:06.000 --> 00:19:11.000 Or we just bursting, you know, through the seams? 00:19:11.000 --> 00:19:15.000 And then enable institutional nimbleness to pivot. 00:19:15.000 --> 00:19:17.000 That's another very important thing. 00:19:17.000 --> 00:19:22.000 I think every institution would need to continue to watch, 00:19:22.000 --> 00:19:24.000 to learn and to pivot. 00:19:24.000 --> 00:19:27.000 Just seeing what's happening in the surroundings, 00:19:27.000 --> 00:19:29.000 you know, what's other institution doing. 00:19:29.000 --> 00:19:32.000 It is a much more competitive environment now. 00:19:32.000 --> 00:19:36.000 And the life cycle of a product becoming shorter and shorter. 00:19:36.000 --> 00:19:40.000 We know it all, you know, we know how quickly we're changing our cellphones, you know. 00:19:40.000 --> 00:19:44.000 How quickly we develop new ways of doing something. 00:19:44.000 --> 00:19:49.000 But for some reason our educational programs continues to stay in place. 00:19:49.000 --> 00:19:52.000 So, and we need to be able to pivot. 00:19:52.000 --> 00:19:54.000 So those are the strategies. 00:19:54.000 --> 00:19:57.000 Now I want to talk about more from a tactical perspective, 00:19:57.000 --> 00:19:60.000 how do you do those things? 00:20:00.000 --> 00:20:03.000 So tactics, obviously, much more specific, 00:20:03.000 --> 00:20:05.000 and they address those issues that, 00:20:05.000 --> 00:20:09.000 how we now go and implement the strategies in place. 00:20:09.000 --> 00:20:14.000 Well, there is several things that I feel very strongly about 00:20:14.000 --> 00:20:16.000 and I think that they absolutely necessary for any institution 00:20:16.000 --> 00:20:19.000 to be successful and financially sustainable. 00:20:19.000 --> 00:20:22.000 One is a multi-year financial plan 00:20:22.000 --> 00:20:24.000 to support strategic plan. 00:20:24.000 --> 00:20:26.000 I think without multi-year financial plan, 00:20:26.000 --> 00:20:31.000 institution just doesn't have an ability to allocate resources 00:20:31.000 --> 00:20:34.000 in a way that it advances strategic goals. 00:20:34.000 --> 00:20:36.000 We all know it in our households. 00:20:36.000 --> 00:20:39.000 When we want something big, we plan for it, 00:20:39.000 --> 00:20:42.000 we save for it, and then we go and get it. 00:20:42.000 --> 00:20:45.000 But somehow we do not use it in institutions. 00:20:45.000 --> 00:20:48.000 We think that if we spend something for one year 00:20:48.000 --> 00:20:52.000 and we kind of go happy because we got it or go back unhappy 00:20:52.000 --> 00:20:54.000 because we didn't get the allocation, 00:20:54.000 --> 00:20:56.000 then the life keeps on going on. 00:20:56.000 --> 00:20:57.000 But how do you move forward? 00:20:57.000 --> 00:20:60.000 You can only move forward through financial planning. 00:21:00.000 --> 00:21:03.000 And a financial plan doesn't exist on its own. 00:21:03.000 --> 00:21:08.000 It exists as enabler and supporter of the strategic plan. 00:21:08.000 --> 00:21:12.000 So, another one is being able in this partnership 00:21:12.000 --> 00:21:16.000 that I talked before to provide on demand performance. 00:21:16.000 --> 00:21:19.000 And that's where I'm talking about talent development, 00:21:19.000 --> 00:21:22.000 increasing capabilities of a team, 00:21:22.000 --> 00:21:26.000 because we should be able provide those on demand performance 00:21:26.000 --> 00:21:29.000 whenever opportunity comes in. 00:21:29.000 --> 00:21:31.000 This is a world of opportunities. 00:21:31.000 --> 00:21:36.000 And, you know, if we do not take those opportunities, our competitors will. 00:21:36.000 --> 00:21:39.000 And institutions now learn to move quickly. 00:21:39.000 --> 00:21:42.000 They learn to decide quickly. 00:21:42.000 --> 00:21:45.000 They learn to go ahead and grab that opportunity, 00:21:45.000 --> 00:21:47.000 because once you grab an opportunity, 00:21:47.000 --> 00:21:50.000 that's when you can generate the first revenues, 00:21:50.000 --> 00:21:51.000 because then competitors will come, 00:21:51.000 --> 00:21:53.000 they will offer the same product, 00:21:53.000 --> 00:21:56.000 and eventually your product will become obsolete and no one makes money. 00:21:56.000 --> 00:21:62.000 So, and for that, financial team needs to be able to provide analysis very quickly. 00:22:02.000 --> 00:22:07.000 So we need to have capabilities to build some performance 00:22:07.000 --> 00:22:10.000 that can be populated on demand, you know, tweaked on demand, 00:22:10.000 --> 00:22:13.000 but having an ability to run what if scenarios. 00:22:13.000 --> 00:22:16.000 What if we do it this way, what if we do that way. 00:22:16.000 --> 00:22:20.000 And then for whether it's an academic dean, whether it's a provost, 00:22:20.000 --> 00:22:22.000 whether it's the cabinet, 00:22:22.000 --> 00:22:25.000 being able to see those different scenarios, analyze them against each other, 00:22:25.000 --> 00:22:27.000 and make a decision. 00:22:27.000 --> 00:22:32.000 Reducing red tape and bureaucracy while not compromising controls. 00:22:32.000 --> 00:22:35.000 I want to say that financial controls are extremely important. 00:22:35.000 --> 00:22:40.000 And it is integrity of institution and we need to protect it 00:22:40.000 --> 00:22:43.000 and we need to have financial controls in place. 00:22:43.000 --> 00:22:47.000 At the same time, we shouldn't confuse financial control with red tape. 00:22:47.000 --> 00:22:52.000 And we need to eliminate red tape as much as possible 00:22:52.000 --> 00:22:55.000 because it will enhance our ability to move quickly. 00:22:55.000 --> 00:22:59.000 If we can move quickly, we can evaluate situations, we can pivot, 00:22:59.000 --> 00:22:63.000 we can take an opportunity or maybe we can kind of pedal back out of a situation 00:23:03.000 --> 00:23:05.000 where things do not work. 00:23:05.000 --> 00:23:11.000 One of the things that I am talking a lot about is the necessity to develop exit strategy. 00:23:11.000 --> 00:23:16.000 In higher education, we focus a lot about doing new things 00:23:16.000 --> 00:23:18.000 and implementing new things 00:23:18.000 --> 00:23:21.000 but we rarely attach an exit strategy to initiative 00:23:21.000 --> 00:23:24.000 and I think it's a big mistake. 00:23:24.000 --> 00:23:25.000 Because in higher education, 00:23:25.000 --> 00:23:27.000 stakes are very high. 00:23:27.000 --> 00:23:30.000 We hire people, they come, they you know, 00:23:30.000 --> 00:23:32.000 sometimes become tenure track, 00:23:32.000 --> 00:23:36.000 sometimes we hire already tenured professors, it's like the whole move, 00:23:36.000 --> 00:23:39.000 then we also advertise now and become known in the community for something. 00:23:39.000 --> 00:23:45.000 We brought students, progress might be four years or more. 00:23:45.000 --> 00:23:47.000 So it's a great commitment. 00:23:47.000 --> 00:23:50.000 And if it doesn't work, we're extremely reluctant 00:23:51.000 --> 00:23:54.000 to shut it down, to eliminate. 00:23:54.000 --> 00:23:57.000 Because we never prepared ourselves mentally, psychologically, 00:23:57.000 --> 00:23:60.000 also financially, to exit them. 00:24:00.000 --> 00:24:03.000 So, 00:24:03.000 --> 00:24:05.000 go flat and distributed. 00:24:05.000 --> 00:24:08.000 That's another thing that's very important to me as a tactic. 00:24:08.000 --> 00:24:11.000 I think that the flatter an organization is, 00:24:11.000 --> 00:24:13.000 the less red tape there 00:24:13.000 --> 00:24:15.000 and the quickest decision making. 00:24:15.000 --> 00:24:20.000 You also get all the ideas and initiatives, that boils from bottom up. 00:24:20.000 --> 00:24:27.000 And it allows, you know, because hierarchy is actually kills initiative. 00:24:27.000 --> 00:24:31.000 Whenever you have hierarchy, you go to your boss, your boss has something else to do, 00:24:31.000 --> 00:24:32.000 you know. 00:24:32.000 --> 00:24:36.000 There needs to be opportunity for people who have great ideas, 00:24:36.000 --> 00:24:39.000 have initiatives, to express them and to share it. 00:24:39.000 --> 00:24:42.000 So there needs to be mechanism put in place for that. 00:24:42.000 --> 00:24:45.000 And that goes together with a process improvement. 00:24:45.000 --> 00:24:49.000 Like for example, one of my institution, I created a forum of, 00:24:49.000 --> 00:24:51.000 they were called budget managers, 00:24:51.000 --> 00:24:54.000 but they were more than budget managers, 00:24:54.000 --> 00:24:58.000 they work at the offices and division and they manage the businesses of the offices 00:24:58.000 --> 00:24:59.000 and divisions. 00:24:59.000 --> 00:24:64.000 And those people, they knew exactly how things are done. 00:25:04.000 --> 00:25:07.000 So we were thinking the leadership level, big level, big things, 00:25:07.000 --> 00:25:08.000 so like oh, this is a great idea. 00:25:08.000 --> 00:25:12.000 Then we'll bring it back to those people and say well, how are we supposed to implement it? 00:25:12.000 --> 00:25:16.000 There is a whole, you know, array of problems with implementation. 00:25:16.000 --> 00:25:17.000 Well we didn't think about it. 00:25:17.000 --> 00:25:22.000 There needs to be a new code for a student, or how are we going to book that type of revenues. 00:25:22.000 --> 00:25:25.000 So, and in order to eliminate it, 00:25:25.000 --> 00:25:28.000 organizations need to become flat and distributed, 00:25:28.000 --> 00:25:32.000 when those people can participate in the decision making early on so those issues 00:25:32.000 --> 00:25:35.000 are addressed before it's too late. 00:25:35.000 --> 00:25:38.000 Develop reserves for operational opportunities. 00:25:38.000 --> 00:25:41.000 I think this is extremely important. 00:25:41.000 --> 00:25:45.000 I truly believe that if there is no operating margin, there is no reserve, 00:25:45.000 --> 00:25:49.000 that there is no mission and eventually an institution will run out of business. 00:25:49.000 --> 00:25:51.000 Because simply, 00:25:51.000 --> 00:25:52.000 something might happen 00:25:52.000 --> 00:25:55.000 and we will have no way to address it. 00:25:55.000 --> 00:25:57.000 Or an opportunity will come up 00:25:57.000 --> 00:25:59.000 and we will have no funds to invest 00:25:59.000 --> 00:25:62.000 and exploit that opportunity and someone else will. 00:26:02.000 --> 00:26:05.000 So there needs to be, like in our households, 00:26:05.000 --> 00:26:07.000 you know, we always say well, 00:26:07.000 --> 00:26:11.000 we're saving it for a rainy day, or we're saving it for something that needs to be, 00:26:11.000 --> 00:26:16.000 maybe we want to have a bigger house or maybe our, you know, child goes to college. 00:26:16.000 --> 00:26:18.000 We should apply the same logic. 00:26:18.000 --> 00:26:21.000 There we say, well you know, we're always looking for opportunity, 00:26:21.000 --> 00:26:23.000 we're always looking for something great, 00:26:23.000 --> 00:26:25.000 and we have money to invest. 00:26:25.000 --> 00:26:27.000 So there needs to be a reserve. 00:26:27.000 --> 00:26:31.000 And then, leverage technology to replace paper processes. 00:26:31.000 --> 00:26:36.000 Paper processes obviously, not in line with the 21st century. 00:26:36.000 --> 00:26:40.000 You know, we do not write letters anymore. 00:26:40.000 --> 00:26:42.000 I don't know, maybe some people do, 00:26:42.000 --> 00:26:43.000 but very rarely. 00:26:43.000 --> 00:26:46.000 That's not the way how we communicate. 00:26:46.000 --> 00:26:47.000 And it's just waste of time, 00:26:47.000 --> 00:26:48.000 waste of talent, 00:26:48.000 --> 00:26:50.000 that's not how we should train our staff, 00:26:50.000 --> 00:26:54.000 and you know, they just inefficient. 00:26:54.000 --> 00:26:61.000 And we spend lots of money for technology and technology can do those things. 00:27:01.000 --> 00:27:03.000 So everything from an automatic signature, 00:27:03.000 --> 00:27:05.000 from, you know, contracts, 00:27:05.000 --> 00:27:09.000 from having to share documents 00:27:09.000 --> 00:27:13.000 when we can all go and work in a single document and don't have to, 00:27:13.000 --> 00:27:15.000 you know, have 25 copies of a document 00:27:15.000 --> 00:27:17.000 that 25 people work on. 00:27:17.000 --> 00:27:19.000 So all those things need to be leveraged. 00:27:19.000 --> 00:27:21.000 That's how real world works. 00:27:21.000 --> 00:27:24.000 That's how things happen outside of academia, 00:27:24.000 --> 00:27:26.000 outside of higher ed, 00:27:26.000 --> 00:27:28.000 and we need to be part of it. 00:27:28.000 --> 00:27:35.000 So that's kind of my musings on the idea of where we could go. 00:27:35.000 --> 00:27:40.000 I'm open to comments, questions, criticism. 00:27:50.000 --> 00:27:53.000 Man: So I have a question. 00:27:53.000 --> 00:27:56.000 In terms of environmental sustainability, 00:27:56.000 --> 00:27:59.000 can you talk about your experience 00:27:59.000 --> 00:27:63.000 and how you've helped universities become more sustainable 00:28:03.000 --> 00:28:08.000 from kind of that social, environmental and financial perspective? 00:28:08.000 --> 00:28:09.000 Dr. Karaman: Absolutely. 00:28:09.000 --> 00:28:13.000 So, I think that, 00:28:13.000 --> 00:28:15.000 you know, 00:28:15.000 --> 00:28:16.000 prudent management, 00:28:16.000 --> 00:28:18.000 or sustainable management, 00:28:18.000 --> 00:28:20.000 includes several components. 00:28:20.000 --> 00:28:21.000 So financial management, 00:28:21.000 --> 00:28:22.000 environmental management, 00:28:22.000 --> 00:28:24.000 and then people management. 00:28:24.000 --> 00:28:26.000 So environmental sustainability 00:28:26.000 --> 00:28:29.000 is a clear part, an important part, 00:28:29.000 --> 00:28:32.000 of sustainable management. 00:28:32.000 --> 00:28:36.000 When we, in higher education and university like that, 00:28:36.000 --> 00:28:40.000 we're building things and we always had to make a choice, 00:28:40.000 --> 00:28:43.000 and it's a choice between how much money we can spend 00:28:43.000 --> 00:28:45.000 and what type of product we will get 00:28:45.000 --> 00:28:47.000 and where we're willing to compromise. 00:28:47.000 --> 00:28:52.000 University of Washington Bothell, we were building a student center, 00:28:52.000 --> 00:28:54.000 we were building a STEM building, 00:28:54.000 --> 00:28:59.000 and a decision was made early on that it is a part of our values 00:28:59.000 --> 00:28:62.000 that we want to be environmentally sustainable. 00:29:02.000 --> 00:29:05.000 And as we went through the architectural design, 00:29:05.000 --> 00:29:06.000 through the schematics, 00:29:06.000 --> 00:29:12.000 it was early on that we will be LEED designated. 00:29:12.000 --> 00:29:14.000 Now the question then comes because within a LEED designation 00:29:14.000 --> 00:29:16.000 there is a mini sub designation. 00:29:16.000 --> 00:29:20.000 And that's where a conversations come in place, 00:29:20.000 --> 00:29:22.000 how much we're willing to compromise, 00:29:22.000 --> 00:29:26.000 like what is a type of a building is that, what's going into that, 00:29:26.000 --> 00:29:28.000 so and that, what's the tradeoff. 00:29:28.000 --> 00:29:31.000 And then kind of a decision's been made, but very early on 00:29:31.000 --> 00:29:34.000 it was decided that it will be LEED designated. 00:29:34.000 --> 00:29:36.000 There was no question about that. 00:29:36.000 --> 00:29:38.000 But then additional conversation went. 00:29:38.000 --> 00:29:43.000 Now the way how we operate, talk about paper processes, 00:29:43.000 --> 00:29:45.000 you know we continue to shuffle paper. 00:29:45.000 --> 00:29:49.000 It is not very environmentally sustainable on a smaller level. 00:29:49.000 --> 00:29:51.000 You know, it's not a LEED designated building, 00:29:51.000 --> 00:29:55.000 but nevertheless, it takes, I think it's a mindset. 00:29:55.000 --> 00:29:62.000 So with the food services, you know, thinking about ways to make that less wasteful. 00:30:02.000 --> 00:30:04.000 So what's happening there. 00:30:04.000 --> 00:30:10.000 I've been at institution where it was student led initiative to go without food trays 00:30:10.000 --> 00:30:16.000 and you know, the argument was that it takes water to wash all those trays 00:30:16.000 --> 00:30:20.000 and had to work through all the, you know, 00:30:20.000 --> 00:30:24.000 fight back was the students said, 00:30:20.000 --> 00:30:24.000 well it's not very comfortable now, 00:30:24.000 --> 00:30:26.000 I cannot take as much food. 00:30:26.000 --> 00:30:32.000 Well take two trips to the buffet and grab a second plate. 00:30:32.000 --> 00:30:36.000 So, I think what's important is that there is different levels 00:30:36.000 --> 00:30:41.000 and it's important that there is a designated person on campus. 00:30:41.000 --> 00:30:45.000 I work on campuses where there was a sustainability 00:30:45.000 --> 00:30:47.000 and environmental sustainability manager 00:30:47.000 --> 00:30:50.000 and that person will take a lead on initiatives 00:30:50.000 --> 00:30:52.000 and working with the city, 00:30:52.000 --> 00:30:53.000 working with the region, 00:30:53.000 --> 00:30:56.000 having conferences and nature day, 00:30:56.000 --> 00:30:58.000 kind of a bigger scale, 00:30:58.000 --> 00:30:61.000 but then there's also smaller scale events 00:31:01.000 --> 00:31:06.000 that the student led initiatives and those supported too. 00:31:06.000 --> 00:31:08.000 My name's Elisa Maroney. 00:31:08.000 --> 00:31:11.000 I'm in the division of Deaf Studies and Professional Studies. 00:31:11.000 --> 00:31:15.000 Western has faculty who are represented by a union and our staff 00:31:15.000 --> 00:31:16.000 are also represented by a union. 00:31:16.000 --> 00:31:19.000 I'm curious about your experience with unions. 00:31:19.000 --> 00:31:27.000 Dr. Karaman: So I did lead negotiation with faculty union at the University of San Francisco. 00:31:27.000 --> 00:31:32.000 So I was representing administration, representing university. 00:31:32.000 --> 00:31:38.000 I think we come to a table with an understanding that each side has a job to do. 00:31:38.000 --> 00:31:42.000 The union has job to represent its members, 00:31:42.000 --> 00:31:45.000 representative represents the university administration. 00:31:45.000 --> 00:31:48.000 But at the end of the day, we want to find ourselves in a place 00:31:48.000 --> 00:31:51.000 where we're advancing the institution as a whole. 00:31:51.000 --> 00:31:53.000 So obviously there are differences arises 00:31:53.000 --> 00:31:55.000 and those differences through the negotiation, 00:31:55.000 --> 00:31:58.000 through the bargaining process, through conversations, 00:31:58.000 --> 00:31:62.000 then reduce and we come to a mutual agreement. 00:32:02.000 --> 00:32:05.000 I think that radical transparency 00:32:05.000 --> 00:32:07.000 becomes very important 00:32:07.000 --> 00:32:12.000 because if union members come and union leadership come to the negotiation table 00:32:12.000 --> 00:32:16.000 with a full understanding of where institution stands financially, 00:32:16.000 --> 00:32:22.000 what's the amount of resources, what's the opportunities the institution has for investing, 00:32:22.000 --> 00:32:27.000 then it's a very different conversation than when union leadership comes to a table not being 00:32:27.000 --> 00:32:32.000 literate and not understanding what was the financial situation of the institution. 00:32:35.000 --> 00:32:42.000 Woman: So could you talk about some particular opportunity that you were able to help 00:32:42.000 --> 00:32:45.000 one of your institutions move quickly on? 00:32:45.000 --> 00:32:52.000 Or if that's really difficult, about what the actual barriers were and what we could do about those. 00:32:52.000 --> 00:32:57.000 Dr. Karaman: Well you know, just recently, drawing more on finance experience, 00:32:57.000 --> 00:32:61.000 we had a building in Vienna. 00:33:01.000 --> 00:33:08.000 It was a dormitory and it was a 20 year lease that was signed some years ago but still had a 00:33:08.000 --> 00:33:11.000 pretty significant remaining life on the lease. 00:33:11.000 --> 00:33:16.000 And it was without right of exit and without ability to purchase. 00:33:16.000 --> 00:33:21.000 So, and the university was losing money on that lease. 00:33:21.000 --> 00:33:25.000 So I went into negotiation with the landlord, 00:33:25.000 --> 00:33:31.000 and were able through providing some other opportunities in other location, you know, 00:33:31.000 --> 00:33:35.000 exit that lease and, put it on our balance sheet 00:33:35.000 --> 00:33:38.000 and actually run it much more efficiently 00:33:38.000 --> 00:33:43.000 because the lease was mortgage plus 8%. 00:33:43.000 --> 00:33:49.000 And now with the interest rates being so low we were able to mortgage it at a much lower rate 00:33:49.000 --> 00:33:53.000 and as such it stopped running a deficit. 00:33:53.000 --> 00:33:56.000 So, you know, 00:33:56.000 --> 00:33:63.000 another opportunity is looking at the academic program. 00:34:03.000 --> 00:34:05.000 So... 00:34:05.000 --> 00:34:07.000 the idea was, well you know, 00:34:07.000 --> 00:34:10.000 we want to create a new academic program 00:34:10.000 --> 00:34:15.000 and the program was gonna be in cybersecurity. 00:34:15.000 --> 00:34:20.000 But we do know there is so many programs no win cyber security. 00:34:20.000 --> 00:34:25.000 So the question is how you can be competitive,in which market you go. 00:34:25.000 --> 00:34:27.000 So working with academic affairs, 00:34:27.000 --> 00:34:30.000 I was able for them to 00:34:30.000 --> 00:34:37.000 put some money on the table to bring really qualified, high, you know, level expert 00:34:37.000 --> 00:34:43.000 people from the field to be able to differentiate the program from other programs. 00:34:43.000 --> 00:34:45.000 And say we have these field experts 00:34:45.000 --> 00:34:49.000 and if you come and studied to us rather than some other institution, 00:34:49.000 --> 00:34:51.000 those are going to be the benefits. 00:34:51.000 --> 00:34:57.000 And you know, another one is an opportunity came up to acquire services 00:34:57.000 --> 00:34:62.000 where outside company would go and call stopouts. 00:35:02.000 --> 00:35:07.000 So callback stopouts who have maybe a small number of credit hours left 00:35:07.000 --> 00:35:09.000 for them to acquire their degree. 00:35:09.000 --> 00:35:11.000 Of course we could do it institutionally, 00:35:11.000 --> 00:35:13.000 but everybody has their own jobs 00:35:13.000 --> 00:35:15.000 and it's kind of not a priority, 00:35:15.000 --> 00:35:19.000 but there's a significant number of people who stopout 00:35:19.000 --> 00:35:20.000 and then they come back and graduate. 00:35:20.000 --> 00:35:26.000 So that was another one. 00:35:26.000 --> 00:35:30.000 Woman: So since you've been here a whole day and a half or so, 00:35:30.000 --> 00:35:37.000 what's your impression of a top priority for this university moving forward? 00:35:37.000 --> 00:35:38.000 Dr. Karaman: Absolutely. 00:35:38.000 --> 00:35:44.000 Well, I think, from what I'm getting, the read, is that the institution is 00:35:44.000 --> 00:35:48.000 in a very pivotal moment with respect to many things. 00:35:48.000 --> 00:35:51.000 One, there is a clear culture change. 00:35:51.000 --> 00:35:53.000 Culture shift is going on. 00:35:53.000 --> 00:35:56.000 I think people 00:35:56.000 --> 00:35:59.000 extremely excited about the openness ofcommunication, 00:35:59.000 --> 00:35:61.000 about transparency that's happening, 00:36:01.000 --> 00:36:04.000 about them being a part of a bigger process, 00:36:04.000 --> 00:36:07.000 especially when it comes to budget and finance. 00:36:07.000 --> 00:36:10.000 So and it seems to me that the clear priority 00:36:10.000 --> 00:36:15.000 that to keep it going, do not let it slide, keep it going, you know, 00:36:15.000 --> 00:36:17.000 make it bigger and kind of, 00:36:17.000 --> 00:36:21.000 make sure that everyone is a part of a bigger process. 00:36:21.000 --> 00:36:27.000 Maybe even like you know, moving to financial planning on a greater scale. 00:36:27.000 --> 00:36:30.000 So another one is, obviously, student success. 00:36:30.000 --> 00:36:31.000 It's a part of a mission. 00:36:31.000 --> 00:36:33.000 It is the mission, 00:36:33.000 --> 00:36:36.000 and, but it also has financial implications. 00:36:36.000 --> 00:36:40.000 That's how the state allocates money now, formula, right, on completion, 00:36:40.000 --> 00:36:46.000 and that's a clear priority and it works hand in hand. 00:36:46.000 --> 00:36:48.000 We helping the student to make sure that they're successful 00:36:48.000 --> 00:36:51.000 and we're also getting support from the state. 00:36:51.000 --> 00:36:54.000 So that remains to be a priority. 00:36:54.000 --> 00:36:57.000 So another one that I heard is a master plan 00:36:57.000 --> 00:36:62.000 and thinking how we can you know, invest differently into infrastructure, 00:37:02.000 --> 00:37:04.000 where we can, you know, 00:37:04.000 --> 00:37:10.000 maybe be more sustainable from infrastructure point of view. 00:37:10.000 --> 00:37:15.000 So those are kind of the top that come to my mind of, of course you know, everyone talking 00:37:15.000 --> 00:37:17.000 about the old school of education 00:37:17.000 --> 00:37:19.000 and what is going to happen to that building. 00:37:19.000 --> 00:37:22.000 Man: So to piggyback on that question. 00:37:22.000 --> 00:37:28.000 Man: So in my opinion, we're the right size and we have the right set of shared values 00:37:28.000 --> 00:37:32.000 to be a nimble university. 00:37:32.000 --> 00:37:36.000 Unfortunately, I don't think we're nearly asnimble as we might like to be. 00:37:36.000 --> 00:37:40.000 So I'm curious to hear your thoughts about what it means to be a nimble university 00:37:40.000 --> 00:37:42.000 and what... 00:37:42.000 --> 00:37:46.000 levers or strategies that you might have available 00:37:46.000 --> 00:37:49.000 on the financial side of the house, 00:37:49.000 --> 00:37:50.000 how that might, 00:37:50.000 --> 00:37:55.000 how that nimbleness from the fiscal side might free up opportunities 00:37:55.000 --> 00:37:59.000 in academic affairs or other aspects of the university? 00:37:59.000 --> 00:37:64.000 Yeah. Well obviously, lots of thenimbleness has to do with academic offerings. 00:38:04.000 --> 00:38:06.000 Because... 00:38:06.000 --> 00:38:08.000 when I look at higher ed, 00:38:08.000 --> 00:38:11.000 to be university, it's a business, right? 00:38:11.000 --> 00:38:16.000 That's my role, to be a VPFA, I have to look at it as a business. 00:38:16.000 --> 00:38:18.000 And when I look at it as a business, 00:38:18.000 --> 00:38:19.000 what's the product that we deliver? 00:38:19.000 --> 00:38:21.000 That's academic programs. 00:38:21.000 --> 00:38:25.000 And for us to be nimble, it means that to deliver academic programs 00:38:25.000 --> 00:38:29.000 that actually the 21st century 00:38:29.000 --> 00:38:30.000 appropriate programs 00:38:30.000 --> 00:38:33.000 and that students will have opportunities for employment, 00:38:33.000 --> 00:38:35.000 be successful in their life, 00:38:35.000 --> 00:38:40.000 and you know, that'll speak for us being able to move quickly. 00:38:40.000 --> 00:38:43.000 So we need to analyze environment. 00:38:43.000 --> 00:38:45.000 We need to work with the corporations. 00:38:45.000 --> 00:38:50.000 We need to work with the regions, what's happening in the region where they, you know, 00:38:50.000 --> 00:38:53.000 the local government, the state government, 00:38:53.000 --> 00:38:57.000 whether it's a corporate offices, and say, what do they need? 00:38:57.000 --> 00:38:58.000 What does the place need? 00:38:58.000 --> 00:38:61.000 Are we offering those things academically? 00:39:01.000 --> 00:39:04.000 Now of course there is a saying that everyone knows, 00:39:04.000 --> 00:39:06.000 if you want to live forever, become an academic program. 00:39:06.000 --> 00:39:10.000 Right? 00:39:06.000 --> 00:39:10.000 Chuckling. 00:39:10.000 --> 00:39:11.000 That's a common saying. 00:39:11.000 --> 00:39:16.000 And we need to start figuring out how does academic programs 00:39:16.000 --> 00:39:20.000 that have no demand can be re-envisioned 00:39:20.000 --> 00:39:25.000 and integrated into what we know has a demand, 00:39:25.000 --> 00:39:27.000 when it brings additional value. 00:39:27.000 --> 00:39:31.000 And I think that's where role of a partnership 00:39:31.000 --> 00:39:34.000 from a VPFA 00:39:34.000 --> 00:39:37.000 and academic areas comes into place. 00:39:37.000 --> 00:39:40.000 To say, we know that there is being, 00:39:40.000 --> 00:39:44.000 you know, well first of all, that's where clarity first comes. 00:39:44.000 --> 00:39:48.000 Which program's generating money, which program's not generating money, 00:39:48.000 --> 00:39:51.000 which have potentials, what's their capacity, so once you know all that, 00:39:51.000 --> 00:39:54.000 then there's a discussion takes place. 00:39:54.000 --> 00:39:58.000 Why that program is not being successful in terms of revenue generation? 00:39:58.000 --> 00:39:59.000 Well, 00:39:59.000 --> 00:39:61.000 there might be a variety of reasons, right? 00:40:01.000 --> 00:40:04.000 Maybe we never focused on it, maybe it wasn't marketed right, 00:40:04.000 --> 00:40:07.000 maybe the program needs to be repackaged in some way, 00:40:07.000 --> 00:40:08.000 maybe it's out of date. 00:40:08.000 --> 00:40:15.000 So another one is, maybe, well you know, there's no demand for that. 00:40:15.000 --> 00:40:19.000 The provost said yesterday that no one studies Greek and Latin anymore 00:40:19.000 --> 00:40:24.000 and has been a part of an educated person's background for many years. 00:40:24.000 --> 00:40:26.000 No Latin and Greek. 00:40:26.000 --> 00:40:28.000 Well maybe there is some demand for Latin. 00:40:28.000 --> 00:40:30.000 Maybe we can incorporate it in some way of pre-med 00:40:30.000 --> 00:40:36.000 or you know, maybe Greek can be a part of a history education. 00:40:36.000 --> 00:40:38.000 But that's a way of thinking how we can do it. 00:40:38.000 --> 00:40:42.000 And the way where finance come in is actually helping with analysis, 00:40:42.000 --> 00:40:44.000 helping with running performance, 00:40:44.000 --> 00:40:49.000 helping with, as I said, what if scenarios, how that can be done. 00:40:49.000 --> 00:40:51.000 So it's one part. 00:40:51.000 --> 00:40:56.000 Another part is being nimble, meaning that you know what's happening in your environment. 00:40:56.000 --> 00:40:59.000 You kind of watch, you learn, and you're able to pivot. 00:40:59.000 --> 00:40:61.000 You're able to change. 00:41:01.000 --> 00:41:02.000 And that comes. 00:41:02.000 --> 00:41:05.000 We know there is lots of hierarchy in institution, 00:41:05.000 --> 00:41:07.000 academic side as well as non-academic side. 00:41:07.000 --> 00:41:10.000 Curricular committee. 00:41:10.000 --> 00:41:13.000 So how long does it take for a curricular approval committee 00:41:13.000 --> 00:41:15.000 to approve an academic program? 00:41:15.000 --> 00:41:18.000 So, and we can have a conversation. 00:41:18.000 --> 00:41:21.000 What is the loss of opportunity? 00:41:21.000 --> 00:41:25.000 You know, what are the benefits that we could have but do not have 00:41:25.000 --> 00:41:28.000 because all this process is in place? 00:41:28.000 --> 00:41:33.000 Another month of deliberation and consideration,what does it really mean? 00:41:33.000 --> 00:41:37.000 And how important it is to have another month of vetting process. 00:41:37.000 --> 00:41:38.000 How much of a gain you get 00:41:38.000 --> 00:41:40.000 and what is the loss for that. 00:41:40.000 --> 00:41:43.000 And kind of that type of analysis I think will help 00:41:43.000 --> 00:41:45.000 to move the institution in a place where the 00:41:45.000 --> 00:41:48.000 institution would be able to move much quicker. 00:41:48.000 --> 00:41:52.000 Another one, as I said, for nimbleness, need to have resources. 00:41:52.000 --> 00:41:54.000 Need to have money that 00:41:54.000 --> 00:41:57.000 set aside maybe some type of a short term investment 00:41:57.000 --> 00:41:60.000 that's ready to be tapped into. 00:42:00.000 --> 00:42:04.000 And people do know that we have this money that's sitting for like big ideas. 00:42:04.000 --> 00:42:07.000 So people keep on working on big ideas. 00:42:07.000 --> 00:42:08.000 Because sometimes people get frustrated. 00:42:08.000 --> 00:42:12.000 Yeah I have these wonderful ideas, but what's the point, there's no money anyways. 00:42:12.000 --> 00:42:14.000 So setting aside money, 00:42:14.000 --> 00:42:18.000 setting aside a reserve, investment pool, investment fund, whatever you call it. 00:42:18.000 --> 00:42:19.000 You know, nimbleness fund. 00:42:19.000 --> 00:42:20.000 Whatever you call it. 00:42:20.000 --> 00:42:23.000 That's important. 00:42:26.000 --> 00:42:27.000 Yes, ma'am? 00:42:27.000 --> 00:42:30.000 On that I'm thinking, I'm Cece Koontz 00:42:30.000 --> 00:42:34.000 and I'm on the Board of Trustees and I chair the finance administration committee 00:42:34.000 --> 00:42:40.000 and most of that, speaking strategically and tactically maybe, 00:42:40.000 --> 00:42:44.000 what is the role of the Vice President of Finance and Administration 00:42:44.000 --> 00:42:47.000 in advocating for the university with the public 00:42:47.000 --> 00:42:49.000 and as a public-funded institution 00:42:49.000 --> 00:42:52.000 with our legislature and what's your experience? 00:42:52.000 --> 00:42:54.000 Well, it's certainly important. 00:42:54.000 --> 00:42:58.000 I think it goes back to one of the challenges that we currently face 00:42:58.000 --> 00:42:64.000 where the value that, in a public institution provides, is being question. 00:43:04.000 --> 00:43:08.000 That people say, well, what's your role, what is that that you do. 00:43:08.000 --> 00:43:12.000 So it's extremely important to be in the public, to be able to tell your story. 00:43:12.000 --> 00:43:15.000 So of course, in order to tell your story, you need to know your story. 00:43:15.000 --> 00:43:18.000 If you don't know what's your story, how you can tell it? 00:43:18.000 --> 00:43:21.000 So you need to know what is that that makes you successful, 00:43:21.000 --> 00:43:23.000 why is it that the students whom I asked yesterday 00:43:23.000 --> 00:43:27.000 said of course we will recommend Western to our friends and family. 00:43:27.000 --> 00:43:29.000 So what is that that they want to recommend? 00:43:29.000 --> 00:43:32.000 What are the things that made them so excited about this place? 00:43:32.000 --> 00:43:35.000 If we do know what's our success, what's our strength, 00:43:35.000 --> 00:43:37.000 what is that that we deliver, 00:43:37.000 --> 00:43:42.000 then we can go and present it and we present it authentically when we believe in it. 00:43:42.000 --> 00:43:45.000 And if we believe it and we present it with credibility, 00:43:45.000 --> 00:43:49.000 well then legislators say well you know, we want to see it. 00:43:49.000 --> 00:43:52.000 I think bringing students in front of legislators, 00:43:52.000 --> 00:43:57.000 I have done it before and nothing tells a better story to a legislator than the student. 00:43:57.000 --> 00:43:60.000 When they have a student who sits in front or stands in front of a legislator 00:44:00.000 --> 00:44:03.000 and says this is my story, this is my background, 00:44:03.000 --> 00:44:09.000 this is what the institution was able to do for me and this is my future that I'm looking at. 00:44:09.000 --> 00:44:12.000 Thank you to the institution, thank you to you for your support, 00:44:12.000 --> 00:44:15.000 that brings tears to their eyes and they want to see, they want to hear it. 00:44:15.000 --> 00:44:18.000 But also, 00:44:18.000 --> 00:44:20.000 looking at it, it's a partnership with the legislators. 00:44:20.000 --> 00:44:23.000 Looking at, what is it they're trying to do for the state, 00:44:23.000 --> 00:44:27.000 what is it they're trying to do for their constituency, 00:44:27.000 --> 00:44:28.000 and having the conversation with them 00:44:28.000 --> 00:44:32.000 how institution can be helpful in what you're trying to deliver. 00:44:32.000 --> 00:44:35.000 Is there workforce development opportunities, you know, 00:44:35.000 --> 00:44:41.000 is there maybe opportunities for K-12 where we can partnership with the schools 00:44:41.000 --> 00:44:46.000 and provide some kind of outlay, outlook for the future students. 00:44:46.000 --> 00:44:50.000 So opportunities with community college in the region. 00:44:50.000 --> 00:44:55.000 You know, we do know that more and more students will be going for their first two years 00:44:55.000 --> 00:44:56.000 in community college. 00:44:56.000 --> 00:44:58.000 There is no questions about that. 00:44:58.000 --> 00:44:61.000 So, but how we can create articulations agreements, 00:45:01.000 --> 00:45:03.000 where it's a smooth transition, 00:45:03.000 --> 00:45:08.000 where we do not sit and question credibility of their two year degree, 00:45:08.000 --> 00:45:09.000 because that's what we do. 00:45:09.000 --> 00:45:13.000 We say, well their degree cannot be good because they come from community college. 00:45:13.000 --> 00:45:17.000 Well maybe we can be closer you know, partners and colleagues 00:45:17.000 --> 00:45:19.000 with professors who teach at community colleges. 00:45:19.000 --> 00:45:23.000 I actually had the case when a, a degree was questioned from a community college transfer 00:45:23.000 --> 00:45:28.000 and the head of the program was also adjunct professor at my institution. 00:45:28.000 --> 00:45:32.000 So I, you brought this person as adjunct professor at your institution, 00:45:32.000 --> 00:45:35.000 how you questioning the program that that professor leads, you know? 00:45:35.000 --> 00:45:39.000 All kind of, you know, it's snobbish, snobbish environment, 00:45:39.000 --> 00:45:41.000 and we need to, we need to forget about it. 00:45:41.000 --> 00:45:42.000 We're here to serve people. 00:45:42.000 --> 00:45:43.000 And I think if we come with that mindset, 00:45:43.000 --> 00:45:46.000 and go and tell it to the legislator, 00:45:46.000 --> 00:45:50.000 show our students, they tell our story, you know, the worst case 00:45:50.000 --> 00:45:54.000 can happen is that student says I will never recommend your institution to anyone. 00:45:54.000 --> 00:45:57.000 Well then you know, you're in deep trouble. 00:46:00.000 --> 00:46:01.000 00:46:01.000 --> 00:46:03.000 Thanks. 00:46:03.000 --> 00:46:07.000 I know we're talking of transparency on campus. 00:46:07.000 --> 00:46:11.000 There's also been some talk about decentralization of funds. 00:46:11.000 --> 00:46:16.000 And I'm wondering what system you feel needs to be in place 00:46:16.000 --> 00:46:19.000 to make sure those charged 00:46:19.000 --> 00:46:21.000 with managing those funds 00:46:21.000 --> 00:46:24.000 would have the expertise to do so. 00:46:24.000 --> 00:46:29.000 Well, obviously people need to be trained. 00:46:29.000 --> 00:46:31.000 So and, 00:46:31.000 --> 00:46:35.000 I do believe that decentralization of budget is essential. 00:46:35.000 --> 00:46:39.000 Well, on one hand, it's better for 50 people to do 00:46:39.000 --> 00:46:42.000 the job that otherwise 5 people would do. 00:46:42.000 --> 00:46:48.000 You know, and they all going to have much more knowledge at place, 00:46:48.000 --> 00:46:50.000 what's happening, like at the ground level knowledge, 00:46:50.000 --> 00:46:53.000 how funds need to be allocated. 00:46:53.000 --> 00:46:55.000 A training needs to take place, 00:46:55.000 --> 00:46:58.000 understanding fundability of funds. 00:46:58.000 --> 00:46:63.000 Because there is no direct, necessarily, replacement dollar per dollar. 00:47:03.000 --> 00:47:08.000 Well we're still in the system where some dollars can be spent for certain purposes 00:47:08.000 --> 00:47:11.000 and some dollars cannot be spent for certain purposes. 00:47:11.000 --> 00:47:14.000 Then the, I think what needs also to happen, 00:47:14.000 --> 00:47:17.000 is that mentality of this is a university money 00:47:17.000 --> 00:47:19.000 and this is a my departmental money, 00:47:19.000 --> 00:47:21.000 needs to go away. 00:47:21.000 --> 00:47:24.000 Because in my experience, there is lots of hoarding is happening, 00:47:24.000 --> 00:47:27.000 especially with soft money. 00:47:27.000 --> 00:47:29.000 You know, 00:47:29.000 --> 00:47:33.000 departments and schools will have their soft money 00:47:33.000 --> 00:47:37.000 and they will always spend university funds first 00:47:37.000 --> 00:47:40.000 without thinking whether or not there is a 00:47:40.000 --> 00:47:44.000 opportunity to utilize some of the soft money. 00:47:44.000 --> 00:47:46.000 Understand that it's all come from the same pocket. 00:47:46.000 --> 00:47:48.000 You cannot be a successful department, 00:47:48.000 --> 00:47:51.000 successful college or successful school, 00:47:51.000 --> 00:47:54.000 if the entire university is not successful. 00:47:54.000 --> 00:47:57.000 You cannot be financially sustainable unit within 00:47:57.000 --> 00:47:60.000 financial unsustainable institution. 00:48:00.000 --> 00:48:06.000 So and, you know, understanding of how, and being more you know, 00:48:06.000 --> 00:48:08.000 creative in a ways while, 00:48:08.000 --> 00:48:11.000 well you know, we have budget allocation. 00:48:11.000 --> 00:48:16.000 And now we know that we have funds available for something 00:48:16.000 --> 00:48:17.000 because something happened, 00:48:17.000 --> 00:48:20.000 and we have this one time need. 00:48:20.000 --> 00:48:22.000 Well, is it a reasonable one time need, 00:48:22.000 --> 00:48:23.000 can we use that money? 00:48:23.000 --> 00:48:24.000 I'll give you an example. 00:48:24.000 --> 00:48:29.000 At one of my institutions, faculty salary issue is a big question. 00:48:29.000 --> 00:48:32.000 And actually staff as well. 00:48:32.000 --> 00:48:35.000 So everyone wanted to have higher salaries 00:48:35.000 --> 00:48:37.000 but there was no funds for higher salaries. 00:48:37.000 --> 00:48:40.000 And we knew that, if you know, 00:48:40.000 --> 00:48:42.000 we just go and increase salaries by X, 00:48:42.000 --> 00:48:45.000 well what's going to happen? 00:48:45.000 --> 00:48:47.000 Well next year you have to increase by X. 00:48:47.000 --> 00:48:48.000 But there are other needs. 00:48:48.000 --> 00:48:52.000 So we've been very open and transparent about things so then we said well, you know, 00:48:52.000 --> 00:48:56.000 we will put in the books, on the budget, that we budget 00:48:56.000 --> 00:48:58.000 in for say 5% salary increase, 00:48:58.000 --> 00:48:64.000 but we allocate to salaries and benefits only 3% 00:49:04.000 --> 00:49:07.000 and we will use equivalent of 2% for one time needs 00:49:07.000 --> 00:49:09.000 for that particular year 00:49:09.000 --> 00:49:13.000 and then do the same for the second year and the third year, give the whole increase. 00:49:13.000 --> 00:49:16.000 So, but this way, you do other things, 00:49:16.000 --> 00:49:20.000 you kind of slowly building up your budget capacity to where it needs to be. 00:49:20.000 --> 00:49:24.000 And at the same time you're using the funds to, 00:49:24.000 --> 00:49:28.000 you know, satisfy some of the immediate one time needs that might be in place. 00:49:28.000 --> 00:49:34.000 But people need to be trained to think in those ways, you know, when they using budgets. 00:49:39.000 --> 00:49:42.000 Man: So I have one other question. 00:49:42.000 --> 00:49:45.000 If you were selected for this position, 00:49:45.000 --> 00:49:50.000 how would you intend to spend your first 90 days on the job? 00:49:50.000 --> 00:49:57.000 Well without question the first one is to meet with as many people as possible. 00:49:57.000 --> 00:49:61.000 And go listen, and listen and listen. 00:50:01.000 --> 00:50:02.000 I need to learn a lot. 00:50:02.000 --> 00:50:05.000 This is institution that's been here before the state of Oregon. 00:50:05.000 --> 00:50:07.000 There's lots of history to be learned. 00:50:07.000 --> 00:50:12.000 There's lots of things that, I need to understand why things happen in the way they understand. 00:50:12.000 --> 00:50:14.000 You know, living in different countries 00:50:14.000 --> 00:50:16.000 and moving through different cultures, 00:50:16.000 --> 00:50:21.000 one thing that I learn is not to jump to conclusion 00:50:21.000 --> 00:50:25.000 if something is not done the way how I would do it. 00:50:25.000 --> 00:50:28.000 But first understand why is it done certain way 00:50:28.000 --> 00:50:31.000 because there might be underlying causes, 00:50:31.000 --> 00:50:33.000 and if you jump to conclusion very quickly, 00:50:33.000 --> 00:50:38.000 and you try to change it right away then you actually might do more harm than good without 00:50:38.000 --> 00:50:39.000 understanding. 00:50:39.000 --> 00:50:43.000 So learning the history, learning the background, 00:50:43.000 --> 00:50:45.000 it's one of the priorities. 00:50:45.000 --> 00:50:48.000 Another one is clearly working very closely 00:50:48.000 --> 00:50:51.000 with the University Budget Committee 00:50:51.000 --> 00:50:55.000 and trying to continue to distill the purpose 00:50:55.000 --> 00:50:58.000 and the goal and the scope of what they do so 00:50:58.000 --> 00:50:61.000 everyone feels comfortable with their role there. 00:51:01.000 --> 00:51:04.000 You know, 00:51:04.000 --> 00:51:06.000 meeting with all my staff one on one, 00:51:06.000 --> 00:51:08.000 that's big step. 00:51:08.000 --> 00:51:12.000 You know, ensuring that there's a smooth transition. 00:51:12.000 --> 00:51:15.000 Understanding what are their concerns, 00:51:15.000 --> 00:51:18.000 what they looking for, you know, in their roles, 00:51:18.000 --> 00:51:24.000 whenever I had opportunity to meet, they kind of shared with me what they're looking from this 00:51:24.000 --> 00:51:26.000 position to support them. 00:51:26.000 --> 00:51:28.000 But provide them with opportunities to be successful. 00:51:28.000 --> 00:51:33.000 So, of course, you know, if the present folks in my office said 00:51:33.000 --> 00:51:36.000 I need you to make such and such decision right now, 00:51:36.000 --> 00:51:39.000 I would do what I can do 00:51:39.000 --> 00:51:46.000 but my first 90 days would be really learning curve. 00:51:53.000 --> 00:51:57.000 Any other questions? 00:52:01.000 --> 00:52:04.000 Well if there is no other questions, 00:52:04.000 --> 00:52:09.000 just let me to conclude by saying that this is a wonderful institution. 00:52:09.000 --> 00:52:14.000 I look at you as an outsider at the moment, 00:52:14.000 --> 00:52:18.000 so, and I see opportunities. 00:52:18.000 --> 00:52:21.000 When I interviewed with the search committee, 00:52:21.000 --> 00:52:25.000 I, you know, I truly believe that the sky is the limit. 00:52:25.000 --> 00:52:32.000 You know, it's such a great advantage to be granted this autonomy 00:52:32.000 --> 00:52:34.000 but it's, you're granted autonomy at the point 00:52:34.000 --> 00:52:37.000 in history when you already mature enough. 00:52:37.000 --> 00:52:41.000 It's not an autonomy been granted to an institution that's been in place for 25 years. 00:52:41.000 --> 00:52:45.000 It's an autonomy that's granted to institution that's been here you know, 00:52:45.000 --> 00:52:47.000 since the 18--, what is it? 00:52:47.000 --> 00:52:49.000 What's the year? 00:52:52.000 --> 00:52:54.000 Well, it's about time, right? 00:52:54.000 --> 00:52:55.000 Chuckling. 00:52:55.000 --> 00:52:58.000 So, and then, 00:52:58.000 --> 00:52:60.000 when I look at you geographically 00:53:00.000 --> 00:53:01.000 where you are, 00:53:01.000 --> 00:53:05.000 we all know that right now students, 00:53:05.000 --> 00:53:07.000 it's not the same as generation as my kids. 00:53:07.000 --> 00:53:10.000 My kids went to college about, 00:53:10.000 --> 00:53:12.000 more than 10 years ago. 00:53:12.000 --> 00:53:16.000 And they wanted to be as far away as possible, 00:53:16.000 --> 00:53:19.000 you know, other side of the country. 00:53:19.000 --> 00:53:21.000 It's not the same anymore. 00:53:21.000 --> 00:53:25.000 Right now we know that there are studies that show that students go to colleges 00:53:25.000 --> 00:53:30.000 within kind of a 70-80 miles radius from their homes. 00:53:30.000 --> 00:53:33.000 When we look at the map and where the Western is, 00:53:33.000 --> 00:53:39.000 we know that there is lots of, you know, areas where the students can be coming from. 00:53:39.000 --> 00:53:44.000 It's all about understanding what is our comparative advantage, 00:53:44.000 --> 00:53:46.000 what is the, you know, 00:53:46.000 --> 00:53:50.000 good that we serve in students and how we go and market ourselves. 00:53:50.000 --> 00:53:53.000 So, but, I do see that there is lots of opportunities. 00:53:53.000 --> 00:53:55.000 Thank you. 00:53:55.000 --> 00:53:58.000 Applause.