Let’s say you run a local company that has just experienced sales growth of about 30% in the last few years–business is booming! Orders keep coming in, including many specialized or custom orders, and everyone in the company is scrambling, working almost around the clock, and “hitting on all cylinders” just to keep up.
In this business scenario, would now be the time to put plans in motion to downsize the company, cut back on operations, stop taking orders and scale back to offer a limited line of products or services? Are you kidding? Doesn’t make sense.
Yet that is exactly what is being asked of Fox Valley Technical College right now by way of the proposed State Biennial Budget for 2011-13. And the business scenario above is exactly our organization’s scenario.
The College’s executive team and I have been working on how we are going to close about a $6 million budget gap in each of the next two years given that two of our three primary revenue sources (state funding and local tax levy authority) are proposed to be severely restricted. The third funding source comes from student tuition, which is also regulated at the State level. Continue reading