Ohio finds $1B in higher ed savings
- Officials in the Ohio Department of Higher Education say that its 14 public institutions can save $1 billion on expenses like procurement processes and learning materials.
- The Toledo Blade reports that the University of Toledo and Bowling Green State University are among the state's best in advancing cost reform plans, specifically around consolidated purchasing and salary structuring.
- Department officials project that the plans will yield $579 million in savings and $572 million in revenues created through public-private partnerships.
Colleges and universities nationwide should constantly be looking for ways to reduce spending, but this story highlights the value in showcasing those efforts to various publics. Showing families and lawmakers institutional efforts to save money or to make more resources available for scholarships and grants is a certain way to engage donors and legislators on the principle of giving more money to fiscally responsible administrators.
Leaders should also consider combining these efficiency reports with data on economic impact, industrial relevance and community outreach as a full package of how higher education powers communities and makes lives better for cities and states at large.
- Toledo Blade Report finds $1B in savings in higher ed