The current academic year marks the fifth and final year of Assumption College's current Strategic Plan: "Foundations for Excellence." This blueprint has guided the allocation of resources and provided direction for academics, enrollment, technology and mission since 2008. Many of the objectives established in the plan have already been achieved. During the current academic year, the focus has been on completing the remaining goals.
College leadership held weekly planning sessions throughout the summer to determine how the College may embrace opportunity and respond to the many challenges it faces - challenges shared by the entire higher education community. These sessions laid the groundwork for the development of the next strategic plan, a process that has involved the entire College community.
During the strategic planning process, and recognizing the need to operate within the required balanced budget, the College was forced to take actions that have also been implemented by many other institutions of higher learning and even businesses. Anticipating significant future growth of the College while realizing short-term budgetary challenges, the College implemented a restructuring plan that eliminated 15 positions from various divisions across the College. The goal of the restructuring plan was to maintain or reduce costs for students. This decision was not related to, nor the result of, the recently announced tuition freeze. The reduction would have occurred with or without introduction of the true pricing program. No additional reductions are planned at this time.
Despite the recent unfortunate reductions, there remains great optimism on campus: academic programs continue to grow at Assumption and the College is in good financial standing.
- The College recently announced new majors in Criminology and Education, as well as a new health care professions advisory program.
- Graduate enrollment has seen recent growth and several new programs are being developed.
- The newly opened Rome campus continues to draw interest from our students, as well as students at other colleges.
- 99 percent of Class of 2013 graduates report they are employed or in graduate school within six months of graduation.
- The College’s long-term debt to cash ratio is very low.
- The College reports an endowment in excess of $96 million.
- The Assumption 2020 strategic planning process will conclude shortly. The new plan includes a number of innovative ideas to strengthen the College’s exemplary academic programs and student life offerings.
- This summer, the College will implement new revenue generating initiatives.
The next strategic plan is critical to embracing the many opportunities before the College community. It will inform the Case Statement for the next Capital Campaign and will allow the College to continue to improve and expand. During the fall semester input was sought from the college community regarding the plan, with a draft circulated for comment and presented to the Board of Trustees in February. Throughout the remainder of the spring semester we will focus on finalizing and fine-tuning the plan for approval by the Board of Trustees at their May meeting.
We are pleased to report that Assumption is positioned for future growth and success.