Para Hulo' | UOG Strategic Plan 2019-2024
Para Hulo' | Strategic Initiatives
Para Hulo' | UOG Strategic Plan 2019-2024
5. Growing Our Financial Resources
Faced with a decline in funding from the government of Guam, the University must shift its financial game plan from one of reliance to one of efficiency, sustainability, and entrepreneurship.
The University is looking to develop a sustainable financial model to include the expansion of revenue-generating enterprises and engagement in private-public partnerships. This model will allow for a continued investment in the programs and services that directly impact students’ lives, community needs, and the workforce.
Goal 1: Adopt a Financial Model
Review, determine, and adopt a financial model that will support the University's mission and achieve financial sustainability.
OBJECTIVES
UPDATE as of Jan. 2022
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A project with Siemen’s is being implemented as a type of public-private partnership wherein private engineering resources are being used on campus with a goal of identifying opportunities to reduce the electrical footprint on the island and using the savings to pay for the equipment upgrades. At this time, the International Dormitory is on hold due to funding issues.
UPDATE as of Jan. 2022
- Ongoing
Goal 2: Develop an Entrepreneurial Spirit
Develop an entrepreneurial spirit when it comes to implementing/creating/developing programs and initiatives.
OBJECTIVES
UPDATE as of Jan. 2022
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Progress continues with existing and new auxiliary units. Global Learning & Engagement continues to grow; new management at the Triton Store shows promise, the Field House and Residence Halls have been innovative during the pandemic, and new activities under UOG Press and WERI will bring revenue to UOG. A new Auxiliary Unit Committee was established in 2021 to examine revenue-generating opportunities and collaborations.
UPDATE as of Jan. 2022
- Ongoing
Goal 3: Implement Cost-Saving Measures
Implement measures that can result in cost savings.
OBJECTIVES
UPDATE as of Jan. 2022
- Ongoing
UPDATE as of Jan. 2022
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Upgrades to the Ellucian ERP and move from WebAdvisor to Self-Service is scheduled for late 2022. Upgrades other web-based services and applications are currently ongoing.
Please send any questions or comments about this process to: parahulo@uog.edu
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