Developing and Reporting Key Metrics to Manage Change ATS CFO Conference November 20, 2014 San Antonio, TX “I’ve analyzed, condensed and simplified the data…it was a good year.” Paradigm Just start somewhere! Who is my audience? Board Chancellor Departments Chief Officers CFO Presidents (6) Admissi ons Development officers External Constituencies Every organization is different, but you already know what is important to you… • What is the Board concerned with? • Where does the President want to take the institution? • What does the Dean like to talk about? • Where do we (CFO’s) want to direct the conversation? What do I already have at my fingertips? – Monthly reports: • • • • • Departmental statements and campus results Gift/Tuition reports Internal financials Investment reports “Flash” reports What do I already have at my fingertips? – Annual reports: • • • • • • Audited financial statements IRS Form 990 Total credit hour report Scholarship report Professor course listings Other ad hoc reports Group the vital information into key categories: – – – – Income Statement/Cash flow Balance sheet/Reserves Academic/Mission Key opportunity Internal to focus the conversation where you want! Personalize the data • What information does the _____________ (Chancellor/President, Board, management, etc.) need to know to be successful? • What do I want them to know? Secrets to a good collection of key metrics – – – – – – Focus on the reader’s perspective Don’t bypass the basics Find a good mix Collaborate with others Don’t overwhelm Put it out there Make the timing appropriate to the audience – Campus presidents – monthly – Chancellor – quarterly – EC/Board – 3 times per year: • Fall (Sept/Oct) – weighted towards enrollment • Winter (Jan/Feb) – weighted towards annual giving • Summer (FYE) – key annual metrics Wrap it all up… • You have to start somewhere…even if it’s a simple, Excel spreadsheet. • What do you want (or need) to communicate? – Use a new “flash report” as an excuse to deliver that key information. • Let’s come up with a KPI together.