Steward our resources while investing wisely in our future
We will ensure that we remain fiscally prudent, manage our existing infrastructure thoughtfully, search aggressively for diverse new sources of revenue, and reallocate resources to those areas that will best serve, attract, and retain students.
We will continue our practice of producing a minimum 2.5% margin of revenue over expenses, which we have exceeded every year for over a decade, and explore new relevant budgeting techniques and approaches to meaningful communications in this area. We will develop systems to evaluate the financial viability of all new and existing academic programs and other initiatives, and strategically reallocate resources as necessary to achieve our vision. And we will evaluate and pursue outsourcing and collaborative opportunities that can create cost reductions and other economic efficiencies. We will explore opportunities to develop revenues such as facility rentals to maximize underutilized capacity of the campus in the summers, weekends and academic breaks.
We will review and evaluate all space utilization across campus to address such issues as quality of facilities, adequacy of existing space to meet current and future needs, potential relocation of classrooms from the library, parking demand, rental opportunities, and a pedestrian friendly campus. We will monitor the surrounding environment for possible land acquisition and position the College to take advantage of opportunities that might allow for potential future growth and maintain the aesthetics of the present campus.
We will enhance our facilities to make the campus more active, inviting, and engaging. We will establish a Campus Center, which will greatly enhance the campus experience. We will renovate/restore the Mansion, the College's historically significant signature building and a unifying image for all Cabrini students and alumni. We will explore ways to begin to fulfill the vision of a Collaboratory by using existing space creatively or incorporating some of its collaboration concepts into designs as appropriate. We will continue to evaluate housing and other facility needs relative to enrollment growth.
We will conduct an evaluation of our information technology (IT) infrastructure and operations to assess internal needs and compare the effectiveness and cost of our technology services to those of our peers and aspirant institutions. We will continue to explore ways to enhance IT support that will provide students, faculty, and staff with instruction on how to most effectively integrate technology into teaching, learning, and administrative functions as well as client-centered services.
We will perform an analysis of employee functions and adapt staffing levels as appropriate and feasible to meet the service expectations of our growing student population. We will develop strategies to improve our ability to recruit and retain a diverse and highly qualified faculty and staff, including marketing our mission of social justice and service to applicants, and to ensure that salary and benefits of faculty and staff are competitive.
To keep those who are already here current in their fields and challenged, we will ensure that both faculty and staff are provided with both internal and external professional development opportunities, and we will integrate professional development programs with institutional succession planning goals. We will launch a new capital campaign based on a realistic feasibility study, with the goal of funding capital projects and endowment growth. We will establish a reasonable endowment goal relative to our annual operating budget within an achievable timeframe. We will make every effort to increase alumni annual fund participation with the goal of developing the Annual Fund as a significant source of revenue. We will also work to increase fundraising from the Board of Trustees.
We will pursue a strategy of moderate growth in undergraduate enrollment and aggressive development of Graduate and Professional Studies. We will maintain competitive tuition, room, and board rates and target an undergraduate discount rate that is consistent with Board-approved planning and budgeting guidelines.