UMA Strategic Plan - Financial Assumptions
UMA Strategic Plan - Financial Summary (Microsoft Excel spreadsheet)
Enrollment
During the first three years covered by the Strategic Plan, UMA anticipates a slight annual enrollment decline (1%-2%). This is attributed to:
- a decline in enrollments from the Lewiston-Auburn area as UMA phases out degree programs offered at Lewiston-Auburn College;
- a decline in associate degree enrollments as students migrate to the Maine Community College System;
- a decline in the anticipated number of Maine high school graduates; and
- marketing challenges that must be addressed to remove uncertainties about UMA’s mission and role in the University of Maine System.
Initiatives designed to attract students who have completed associate degree programs and improve current student retention are expected to stabilize enrollment by FY 2010.
Revenue Increases
UMA will increase tuition and fees by amounts that allow strategic investments supporting the activities described in the plan while maintaining affordability. To ensure that financially needy students are not denied access, institutionally funded waivers and scholarships will be proportionally increased as these increases occur.
The UMS Strategic Direction #6 Implementation Planning Committee is currently developing recommendations about how state appropriations should be distributed in the future. The UMA plan will be updated when more information becomes available about this process.
Development
During the five-year period covered by this plan, UMA will work with the University of Maine System and community leaders to establish a foundation to serve as the University’s primary fundraiser. Building relationships developed through activities such a Senior College and the Holocaust and Human Rights Center of Maine fund raising drive, UMA anticipates that this will generate funds to support arts and cultural activities, non-credit and community programming, facility improvements, and student scholarships. The foundation will also serve as a catalyst for developing an active alumni association.