OBU trustees adopt budget, five-year enrollment goals
ARKADELPHIA — Ouachita Baptist University’s board of trustees adopted a 2017-18 budget and approved five-year enrollment goals during its June 8 summer meeting on campus.
“We’re continuing to think about the future of Ouachita,” said OBU President Ben Sells. “Growing and strengthening the university — dreaming a larger dream for Ouachita — requires considerable work by faculty, staff and trustees and significant support by alumni and friends.
“We’re focusing on six emerging strategic directions for the benefit of the students we’re called to serve and to best prepare them to serve the purposes of God in their generation — in their families, careers, communities and churches.”
The University Planning Committee, in cooperation with trustees, faculty and staff, has been working toward the completion of a five-year strategic plan scheduled to be considered by the full board later this year. As part of their June meeting, trustees reviewed key priorities related to the committee’s interim report.
The six proposed strategic directions include sustain Christ-centered identity, support committed faculty and staff, grow undergraduate enrollment to capacity, ensure transformative learning experiences, develop graduate and innovative programs, and strengthen partnerships with alumni and friends.
Sells, who chairs the Planning Committee, said the planning process included listening sessions with each of Ouachita’s academic schools and administrative departments, meeting with several of the university’s advisory councils and six workgroups developing draft goals for each direction.
“The work of drafting goals will culminate in a document that will be discussed in August by all faculty and staff during a back-to-school session,” Sells said.
Trustees will further discuss the proposal in their September board meeting, as well as advisory groups in their fall meetings.
“We believe the advancement of Ouachita is ultimately God’s work, accomplished through his enabling of people who care deeply about our university,” the report states. “We find ourselves at a pivotal moment when Ouachita must dream a larger dream. By envisioning and formulating a set of strategic directions, we seek to clarify and advance that larger dream.”
Keldon Henley, vice president for institutional advancement, shared a report about projected fall enrollment. Based on current preregistration statistics, Ouachita is projected to exceed the 12.5-percent increase in new student enrollment proposed by university administrators. He said the trend, combined with a projected increase in current student retention, indicates Ouachita is on track for a strong fall enrollment total.
The five-year enrollment plan approved by trustees would increase student enrollment by approximately 60 students per year, from 1,500 in 2017-18 to
1,750 by 2021-22.
“There seems to be unity around the focus to ‘grow undergraduate enrollment to capacity,’” Sells said, “By being a little bigger, we can be better stewards of our campus and make Ouachita better.”
Sells reported that fundraising for the 2016-17 fiscal year totaled $7.7 million in cash and pledges, compared to $6.8 million the previous year. Additional gifts of $4.5 million in irrevocable estate-related contributions over the past year bring the university’s total fiscal year gifts to approximately
$12.3 million. The percentage of alumni making gifts to the university during the 2016-17 fiscal year increased from 19 percent to 20 percent, reversing a 10-year decline.
Trustees also heard a report from Bobby Thomas, president of the Arkansas Baptist Foundation, which helps Ouachita manage its endowment. He said the goal of the endowment is to provide a stable and growing income stream to the university for the achievement of its purposes.
The majority of Ouachita’s endowment income provides support for student scholarships with the balance supporting academic programs, faculty and facilities. Thomas reported that as of May 31, Ouachita’s total endowment is $107.5 million, a net increase of $7 million from the previous year.
“We exist purely as a ser-
vice entity,” Thomas said. “We exist to serve the churches and other agencies and institutions. Our intent is to be faithful and obedient in our role of serving Ouachita and the other entities.”
Trustees approved a 2017-18 university operating budget of approximately $36 million, an increase of about $1.7 million over the previous year. Primary increases are related to providing scholarships for students, health insurance-related benefits for employees and support for academic programs and facilities. Trustees will review and adjust the budget as needed in September after fall enrollment numbers are finalized.