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StFX: The Imperative to Build

StFX: The Imperative to Build. Ramsay Duff, VP Finance & Operations CAUBO Montreal June 2006. Canadian Universities are risk averse to rapid physical renewal of their infrastructure This approach can create a negative re-enforcement cycle Significantly impairing the ability to compete.

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StFX: The Imperative to Build

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  1. StFX: The Imperative to Build Ramsay Duff, VP Finance & Operations CAUBO Montreal June 2006

  2. Canadian Universities are risk averse to rapid physical renewal of their infrastructure This approach can create a negative re-enforcement cycle Significantly impairing the ability to compete. Premise

  3. Brief overview of StFX Competitive Analysis The Imperative to Build Lessons Learned StFX: The Imperative to Build

  4. Glossy Brochures and Web • Scenic Pictures • Happy Students • “Come here and you will be happy and successful” What is StFX? Just Like You!

  5. Student and Faculty recruitment is national/ international marketplace • To be competitive, StFX must have superior offerings • Research • Residences • Recreation The Imperative

  6. $122,000,000 Core Infrastructure $4 million $6 million Property Acquisition $8 million Technology $8 million Student Services $20 million Keating Centre $30 million Academic Buildings $46 million Residences The Imperative to Build • At 150 years old we had a lot of investing to do…. • Buildings • Technology • Infrastructure

  7. Analysis and Plan Our Niche Our Future Our Gaps Our Investment Plan Built Support Board Community/ Alumni Bankers How We Did It

  8. Maxed out the line of credit, funded from operations Leveraged revenue streams from ancillary Fully hedged against interest rate risk Negative pledge to lenders on assets Financing

  9. University stakeholders love to plan and plan perfectly… but Cost curve will remain steep Financing costs remain near all time lows If you can’t convince your banker now, you never will If your Board can’t see it, you’re ability to compete is already compromised Planning and waiting for perfect conditions is a fool’s game Lessons Learned #1

  10. Demands on physical campus are escalating and accelerating Teaching Spaces: backlash on class size and learning environment Faculty: dedicated spaces for teaching, research and administration Students: Catering to diverse student needs (campus life) So, better to start renewal cycle sooner, creating multi-purpose, flexible space where possible. Lessons Learned #2

  11. Having a plan and process is important, but… Hard to predict donor behavior Priorities can change Opportunities knock… Have to incorporate flexibility and be opportunistic Lessons Learned #3

  12. Concluding Thoughts Atlantic Context – Challenging Environment - Declining Enrolment - Declining Government Funding/Tuition Ceiling Survival: - Superior Offerings - Profile – Positioning - National/International Recruitment Balanced capital investment has been a significant factor in enabling StFX to solidify its market position.

  13. StFX:The Imperative to Build Questions?

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