Henderson's Strategic Resource Allocation Model
Henderson's Strategic Resource Allocation Model consists of four components that the university adopted in January 2022: Fiscal Management and Responsibility, Academic Performance and Program Viability, Administrative Efficiencies, and Net Institutional Performance. Henderson is utilizing this strategic model to restore financial integrity and redefine the future of college.
Details of the university's actions in support of the strategic model are available in the following report and the Future of Henderson archive:
Reimagining Henderson: Restoring Financial Integrity and Redefining the Future of College
The Future of Henderson
Henderson's Strategic Positioning Platform
Henderson adopted a Strategic Positioning Platform, which was approved by the Arkansas State University System Board of Trustees in September 2022. This document details Henderson's mission, core values, and audiences while outlining future-focused partnerships to expand and advance student success and learning outcomes.
Modified Cash Budget
In January 2022, Henderson implemented a modified cash budget, including expense reductions and position management.
BASED ON FY22 AUDITED FINANCIAL STATEMENTS, HENDERSON MADE SIGNIFICANT PROGRESS IN RESTORING SUSTAINABLE OPERATIONS:
- Accounts payable decreased from $6,926,687 to $1,383,746 for an improvement of $5,542,941, or 80 percent in operational savings.
- Payroll decreased from $30,768,950 to $23,498,322, for a reduction of $7,270,628, or 23.4 percent, with most savings occurring between January and June 2022.
- Henderson’s overall net position improved from $21,013,662 in FY21 to $31,946,526 in FY22.
- Henderson improved from 7 days of cash on hand in 2019 to 50 days of cash on hand in 2022.
During the financial exigency process, Henderson and the Arkansas State University System worked with Huron Consulting to conduct an evaluation of the academic portfolio. Huron's work was based on metrics including cost of delivery and net revenue, unit-based cost of instruction, student success rates with a weighted priority for degree completion, and alignment to community-based workforce needs. Henderson continues to utilize the academic portfolio tools in evaluating unit-based performance for net cost and completion.
Reddie For What's Next
With the continued support of the ASU System and State of Arkansas, Henderson will build seamless pathways from school to work while preparing students with degrees and credentials for high-demand careers. Our learning community model focuses on removing barriers to degree completion while creating a university with a Students First focus.
Our priorities include:
- Opening the door of opportunity and access for all students
- A commitment to student completion
- Degrees that matter and meet community needs
- Associate plus bachelor’s degree in four years
- Lower tuition cost through instructional reallocation
- Early intervention system
- Intrusive advising and tutoring
- Case management and CARES model
- Less time to degrees through experiential learning opportunities and job placements