The Board of Visitors Special Committee on Planning convened yesterday to review its financial policies and discuss the University's current performance as assessed by statewide objectives.
Board members discussed the performance standards that the University must adhere to as established by the Higher Education Restructuring Act of 2005, legislation created by former Gov. Mark Warner. The University is negotiating a management agreement with current Gov. Tim Kaine that will spell out the terms of these state assessments.
The management agreement submitted to the governor Nov. 15 includes adherence to state standards on access, affordability, academic offerings, academic standards, student progress and success, enhanced access and affordability, economic development, research and administrative and operational efficiency.
By working with the State Council of Higher Education for Virginia (SCHEV), the University has developed a set of measurements to help achieve these goals.
Colette Sheehy, vice president for management and budget, pointed out, however, that while "part of what we should be responding to are these goals, in addition, we may have our own institutional goals we'd like to track as well."
In addition to SCHEV, Sheehy questioned other possible performance measurements, such as the U.S. News & World Report college rankings.
"I didn't know if this was really a performance measure or not," said Sheehy. "Clearly there are elements within it that are performance measures."
Members noted that there are internal assessments similar to these national media rankings, such as surveys of applicants who turned down their acceptance to the University and participation in the National Study of Student Engagement, which can offer the University feedback.
A review of the University's financial policy brought about questions concerning graduate financial aid and overlooked graduate programs.
"We're not competitive," John O. Wynne, chair of the Special Committee on Planning, said. "This is a problem that's going to have to be solved."
Members emphasized the impact the prominence of graduate schools can have on an undergraduate program but pointed out that it is difficult to raise money for the program until people understand its significance to the University.
A late start, a lengthy meeting of the executive session of the board and the scheduled meeting of the full board this morning led the board to postpone an analysis of the University's strengths, weaknesses, opportunities and threats until today.
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