State University System Education and General Legislative Operating Budget Issue Form I

Transcription

1 State University System Education and General Legislative Operating Budget Issue Form I University(s): Work Plan Issue Title: Priority Number 3 Recurring Funds Requested: $1,000, Non-Recurring Funds Requested: Total Funds Requested: $1,000, Please check the issue type below: Florida State University FSU College of Law Scholarships/ Student Preparedness Shared Services/System-Wide Issue Non-Recurring Issue (Received in ) New Issue for I. Description (Describe the service or program to be provided and how this issue aligns with the goals and objectives of the strategic priorities and the 2015 Work Plan established by your institution. Include whether this is a new or expanded service/program. If expanded, what has been accomplished with the current service/program?) The College of Law requests that $1,000,000 of the non-recurring allocation from be made recurring in This money will be split between student scholarships (approximately $600K) and two faculty scholar hires (approximately $400K). The ability to attract and retain highly credentialed students, as well as the ability to restore the size of our permanent faculty (which was reduced during years of budget cuts), will directly contribute to Florida State University s key initiative to improve student-faculty ratios. An improvement in student-faculty ratio will also help maintain the FSU College of Law s standing among the top 25 public law schools in the nation. Student Selectivity comprises 25% of the U.S. News & World Report law school rankings, and Faculty Resources (which includes student-faculty ratio, faculty salaries, and student scholarships) comprises an additional 15% of the ranking. Also, attracting highly credentialed students contributes to higher Bar Exam pass rates for graduates, thereby increasing employment

2 rates. Placement Success comprises an additional 20% of the U.S. News & World Report law school rankings. In short, additional spending on student scholarships and faculty salaries has a direct and significant impact on the Florida State University College of Law s national standing. II. Return on Investment (Describe the outcome(s) anticipated, dashboard indicator(s) to be improved, or return on investment. Be specific. For example, if this issue focuses on improving retention rates, indicate the current retention rate and the expected increase in the retention rate.) The College of Law committed the entire $1M non-recurring awarded in to student scholarships, which facilitated a 10.6% increase in the size of the 2014 entering class (while maintaining the median LSAT score). Due to the non-recurring nature of the $1M allocation, scholarship awards were necessarily limited to one-year scholarships only. A recurring allocation would facilitate multi-year scholarships to highly credentialed applicants. In the current environment, multi-year awards are critical to attract and maintain a highly credentialed and diverse student body. Multi-year awards also help to ensure that the students do not transfer to another institution after a successful first year at Florida State Law. In addition, recurring funds can be used to hire permanent faculty members. The hire of permanent faculty members will restore the size of our faculty as well as enrich the offerings we are able to make to our students. This is especially important in a time when we must provide more hands-on education to better prepare students for the workforce. The $1M non-recurring award from was not renewed for , and the College of Law is struggling to maintain student credentials in the 2015 entering class. A survey of applicants who have declined offers of admission reveals that, 67.7% of respondents cite a scholarship offer as the primary reason for deciding to attend another law school, and 54% state that a lesser scholarship offer is the primary reason for declining an offer from Florida State University College of Law. III. Facilities (If this issue requires an expansion or construction of a facility and is on the Capital Improvement List complete the following table.): Facility Project Title Fiscal Year Amount Requested Priority Number 1. N/A

3 State University System Education and General Legislative Budget Request Form I University(s): FSU Issue Title: Preeminence and Top 25 Funding Priority Number 1 Recurring Funds Requested: $10,000,000 Non-Recurring Funds Requested: n/a Total Funds Requested: $10,000,000 Please check the issue type below: Shared Services/System-Wide Issue Non-Recurring Issue New Issue for I. Description 1. Describe the service or program to be provided and how this issue aligns with the goals and objectives of the strategic priorities and the 2015 Work Plan established by your institution (include whether this is a new or expanded service/program). If expanded, what has been accomplished with the current service/program? 2. Describe any projected impact on academic programs, student enrollments, and student services. Looking ahead FSU s goals of becoming a national Top 25 public research university and a state and national leader in students career readiness are firmly on track, especially in light of the returns from the recent Preeminence appropriations and the comprehensive spectrum of high quality programs we offer. Our investments continue to be strategic. We are achieving excellence more efficiently than any other research university in the country. We understand that Florida State s ranking is highly dependent on investment in faculty, with a focus in many areas associated with STEM fields (a separate request), and we are successfully competing for some of the nation s very best faculty candidates. At the same time, we continue to invest in the Entrepreneurial University Program, which is part of our plan to become a state and national leader in students career readiness. We are in the process of hiring Entrepreneurs-in-Residence for our colleges, which are designed to promote job prospects, increase the entrepreneurial potential of students and faculty, and create new partnerships with industry. Our objective is clear to provide a cutting-edge education while ensuring that our graduates have highly successful careers.

4 FSU requests funding to continue the initiatives started three years ago with the investments in Preeminence funding. The additional funds will used to: 1) Continue the investment to create a truly entrepreneurial university (including Entrepreneurs-in-Residence) to incorporate entrepreneurial programs across campus. 2) Continue the investment in programs that will push us closer to a Top 25 national ranking of public universities 3) Embed job placement and critical thinking into the curriculum. 4) Increase retention and graduation rates. FSU is a highly ranked university based on its strong and enduring legacy in science, technology, education, business, communication, the fine arts and the humanities. We have the opportunity to achieve Top 25 status with targeted investment that leverages our strengths. With the continued commitment of Preeminence funds, FSU will: 1. Become one of the most entrepreneurial universities in the nation by: a. Taking our highly ranked programs in business to higher levels of excellence and national prominence through strategic faculty hiring in areas such as Risk Management & Insurance, Real Estate, Finance, Accounting, and Entrepreneurship. b. Expanding our program of specialized study in entrepreneurship campus-wide to give all students the opportunity to learn fundamental business practices and enhance their career potential. c. Placing one or more entrepreneurs-in-residence in every college on campus to provide students with hands-on learning in actual situations and to work with faculty in commercializing their research and creative findings. 2. Strategic hiring of faculty in key areas to reach top 25 status a. Increase the number of full-time faculty as a percent of the total b. Decrease the faculty/student ratio c. Decrease class size 3. Save students, their families, and taxpayers significant money by: a. Increasing our retention rates to exceed that of the top 20 public universities in the nation. b. Increasing our fourth and sixth year graduation rates to that of the top 25 publics in the nation. c. Ensuring accessible excellence. 4. Incorporate internships, career readiness and research opportunities in major programs throughout the institution to better prepare students for their careers. In addition to moving FSU up on the indicators, the investments we propose will have a significant impact on two key metrics not included in national rankings, but of critical importance to the University and the State -- career placement and salaries of our graduates. Florida State University remains committed to accessibility for need-based students. With the previous preeminence funding, Florida State University has invested in the following initiatives: Faculty hiring in the strategic areas of Coastal Marine and Water Management Hires, Brain and Successful Longevity and Energy and Material hires - $4 million Other strategic faculty hires - $7.55 million (added $1.8M for ) plus $3.2M for nonrecurring start-up ( ) Entrepreneur-in-Residence - $2 million Critical Thinking initiatives - $1 million STEM Ready initiatives - $4 million Graduate Success - $1.25 million

5 National Academy recruitment - $2 million These investments continue the implementation of a seven-point comprehensive plan to expand our current efforts to promote the career success of our students and to create jobs through economic development and innovation: The implementation includes: 1. Creating a Culture of Entrepreneurship Florida State University is actively transforming its culture, becoming a truly entrepreneurial university by: opening the College of Business to other majors, (since , the number of sch increased 37.7 % from 10,656 to 14,673 in ) hiring faculty who are professors by virtue of practice and experience in developing products and building companies, creating successful partnerships between inventors and potential entrepreneurs, advancing competitions that support new licenses, new processes, and startup companies, creating a FSU-branded platform that attracts investors, and creating a student innovation foundation that enables student entrepreneurship. Our objective is a culture change that promotes the transition from invention and creativity to the marketplace, while simultaneously ensuring student success. 2. Promoting patents, licensing, and startup companies Florida State University is enjoying record-breaking success in promoting patents, licensing and startup companies. However, new opportunities for public-private partnerships promise even greater success. 3. Investing in Innovation - promoting job creation and student experiences leading to career opportunities Universities have the difficult challenge of predicting market changes and student career opportunities four to five years into the future, but an analysis of available data suggests a two-fold approach to investment: a focus on increasing our quality and national ranking, which is correlated nationally with job success and higher starting salaries, and careful investment in areas that are sufficiently innovative that they will create market growth and career opportunities for our students. 4. Economic Development in the Tallahassee region Florida State University is becoming increasingly engaged in the economic development in our region and the State. Our approach is three-fold: participate at a high level in economic development councils and chambers, incubate start-up companies based on FSU intellectual property, and help transform the region as a destination and as a community that attracts businesses. 5. Accessing the Power of a FSU, FAMU, TCC Partnership

6 Tallahassee has three unique higher education institutions within a 5-mile radius, which together offer an extraordinarily broad set of degree and associate degree opportunities. We have agreed to work together to promote economic development. Together, we are committed to providing the workforce needs of any company that locates within our region and we are ready to be at the table in recruiting new companies to Florida. The power of the three institutions in attracting new business opportunities to the region and to Florida has not been tapped, yet the potential is enormous. 6. Embedding Student Career Success in the Curriculum Florida State University proposes to ensure that every student recognizes and understands the career opportunities, types of employers and salary potential of every major, that career success is embedded in our curricula, and that we provide the types of experiential learning that promote student success. We have the potential to help students make meaningful choices through a map of the knowledge, skills and abilities that occupations require, and to ensure that we align these with various degree programs. 7. Advancing Career Readiness through the Career Center Florida State University has a highly regarded Career Center dedicated to ensuring career readiness and promoting career success. As student demand grows with the University s increased commitment to student career success, we propose to expand our programming and fully engage our alumni in promoting student success. Some elements of this plan are focused largely on job creation while others are focused more on student career success. However, every effort to focus on job creation aids in student success, and our effort to promote student career success creates a focus that crosses the university. In concert, these seven areas of focus will have a transformative impact on the students at Florida State University and on the economic development of Florida and our region. As the University adds even greater emphasis on student career success and career readiness, student demand is likely to result in a significant workload increase in the Career Center. We expect growing demand in areas associated with coordination between Center staff and career and employment activities within colleges, social media, employer development, internship development, and career advising, counseling and programming. A focus on career readiness and success will have significant implications for resources. Consider just the implications of incorporating internships within the curriculum and the rapid growth of the Garnet and Gold Scholars program. The University must be ready to meet the growth in student demand for internships. Our efforts are not limited to internal programs. The FSU Alumni Association is joining the University efforts by hiring staff specifically to focus on better connecting students with alumni. These efforts cross multiple areas from networking through our ProfessioNole program, to advising and mentoring, to internships and career opportunities. In addition, many of our colleges focus on pipeline programs and fairs that help guide K-12 students into STEM fields. II. Return on Investment - Describe the outcome(s) anticipated, dashboard indicator(s) to be improved, or return on investment. Be specific. For example, if this issue focuses on improving retention rates, indicate the current retention rate and the

7 expected increase in the retention rate. Similarly, if it focuses on expanding access to academic programs or student services, indicate the current and expected outcomes. This strategic investment will result in a significant success story for Florida: 1. Achieving a top 25 public university rank by organizations such US News and World Report and the Annual Report of Top American Research Universities 2. Placing FSU in position for an invitation to join the AAU 3. Achieving national leadership in STEM 4. Ensuring that FSU is a model university in the State of Florida as well as a national leader in job readiness and career placement 5. Achieving significant savings for families and the State because of high retention rates and timely graduation. 6. Finally, achieving affordable excellence across a broad spectrum of fields, adding significantly to Florida State s existing centers of excellence, including its top-ranked arts programs, STEM, business, and high performing non-stem areas, thus enabling the university to be a truly world-class institution. More specifically, both the investments in STEM and in the Preeminence and Top 25 will increase FSU s standing in virtually every metric detailed in State legislation on preeminence, and the metrics outlined by the Office of the Governor and included in recent presentations by the Board of Governors. This includes the following key metrics measured by US News and World Report and Top American Research Universities: Student retention & graduation rates Freshman retention Student/Faculty ratio Class size Faculty resources Total Research Expenditures Federal Research Expenditures National Academy Members Faculty Awards Doctorates Granted Median SAT Post-doctoral Fellows Alumni Giving Rate National Reputation III. Facilities (If this issue requires an expansion or construction of a facility, please complete the following table.): Facility Project Title Fiscal Year Amount Requested Priority Number 1. n/a 2.

8 State University System Education and General Legislative Operating Budget Issue Form I University(s): Florida State University Work Plan Issue Title: STEM Funding Priority Number Recurring Funds Requested: $5,000, Non-Recurring Funds Requested: 2 Total Funds Requested: $5,000, Please check the issue type below: Shared Services/System-Wide Issue Non-Recurring Issue New Issue for I. Description (Describe the service or program to be provided and how this issue aligns with the goals and objectives of the strategic priorities and the 2015 Work Plan established by your institution. Include whether this is a new or expanded service/program. If expanded, what has been accomplished with the current service/program?) The mission of Florida s lead universities is clear (1) retain and graduate the best and brightest students and ensure that they have excellent job placement and (2) promote innovation and economic development, attract industry partnerships and external funding to the State, and create new technologies, all necessities in bringing new jobs to Florida. An abundance of data indicates that highly ranked research universities lead higher education in their ability to achieve this important mission. A focus on STEM will move Florida State University higher in the rankings and serve the critical needs of the citizens of Florida. FSU is requesting funds to meet the following objectives: 1) Faculty recruitment in STEM fields to further enhance the level of national prominence and State leadership in these critical disciplines. 2) Recruit National Academy Members the global leaders in STEM fields.

9 3) Funding to attract STEM-prepared student scholars, ensure accessibility, and keep the best and brightest within the State of Florida. 4) Funding for increasing retention and graduation rates for STEM students. The ranking of FSU (in both US News and World Report and the Annual Report of Top American Research Universities), is highly dependent on investment in STEM fields. FSU already has nationally and internationally recognized programs in the sciences and engineering. For instance, the National High Magnetic Field Laboratory is based at FSU with satellite facilities at Los Alamos National Laboratory and the University of Florida. Our institution is now poised to be a national leader in a broader spectrum of STEM disciplines, and an even greater force for the State of Florida. The National Science Foundation reports the following national rank in research expenditures - a measure of peer assessment of research proposals, faculty productivity, external funding to the State, and the potential for economic development. The NSF report (based on 2012 fiscal year expenditures) includes 8 major categories of STEM rank: Area Rank All Universities Public University Rank Rank in FL Computer Sci Mathematics Physical Sci Psychology Soc. Sci Env. Sci Engineering Life Sciences With targeted investments, Florida State University should be able to attain the goal of having four STEM disciplines in the top 20 of all public universities- Physical Sciences, Psychology, Mathematics and Environmental Sciences. Two of these (Physical Sciences and Psychology) will be in the top 5 of all publics. These investments will also move Engineering and Social Sciences into the top 40 and Computer Science into the top 50. Florida State cannot compete at this level in the Life Sciences because the State-defined mission for our medical school does not include a research hospital. It is critical that we continue our investments that strengthen Florida State University, while simultaneously enhancing our national rank, including: Increasing retention and graduation Increasing faculty compensation Increasing the number of permanent faculty Enhancing STEM areas

10 Focusing on enrollment of highly qualified STEM-ready students With such a high ranking in key disciplines, Florida State University would be among the top tier of public universities in STEM and move into the top 25 ranking of all publics. II. Return on Investment (Describe the outcome(s) anticipated, dashboard indicator(s) to be improved, or return on investment. Be specific. For example, if this issue focuses on improving retention rates, indicate the current retention rate and the expected increase in the retention rate.) FSU is a highly ranked university based on its strong and enduring legacy in science, technology, education, business, communication, the fine arts and the humanities. We have the opportunity to achieve Top 25 status with targeted investment that leverages our strengths. These funds will help FSU achieve this goal: 1. Working towards becoming one of the top universities in the nation in the mathematical, physical, and natural sciences, attracting the interest of international firms and students by: a. Hiring faculty members in key STEM fields and providing the infrastructure needed to support them and the additional students they will instruct. b. Recruiting an outstanding cadre of National Academy Members. c. Attracting STEM student scholars to become Florida s top producer of STEM degrees in the mathematical, physical and natural sciences. 2. Save students, their families, and taxpayers significant money by: a. Continuing progress towards increasing our retention rates to exceed that of the top 20 public universities in the nation. b. Continuing progress in increasing our fourth and sixth year graduation rates to that of the top 25 publics in the nation. c. Ensuring accessible excellence. 3. Incorporating internships, career readiness and research opportunities in major STEM programs throughout the institution to better prepare students for their careers. These investments are designed to improve FSU s standing on a large number of metrics that govern national rankings. For example, each new faculty in a STEM discipline can be expected to generate more than $150,000 in contract and grants a year. It should be noted that FSU achieved a record high of $230.1M in contract and grant awards during fiscal year This amounts to an increase of ~$15M over our peak year during the ARRA (Federal Stimulus ) era and reflects recent emphasis on STEM faculty hires. Each new faculty will be a key player at FSU in acquiring new patents and the spin-off of new businesses. (The last return on investment figure indicates that every state dollar invested in state universities produces a $10.89 return.)

11 More specifically, the investments in STEM will increase FSU s standing in virtually every metric detailed in State legislation on preeminence, and the metrics outlined by the Office of the Governor and included in recent presentations by the Board of Governors. This includes the following key metrics measured by US News and World Report and Top American Research Universities: Student retention & graduation rates Freshman retention Student/Faculty ratio Class size Faculty resources Total Research Expenditures Federal Research Expenditures National Academy Members Faculty Awards Doctorates Granted Median SAT Post-doctoral Fellows Alumni Giving Rate National Reputation Equally important, this investment will enhance accessibility, by directly supporting STEM-ready students, and by ensuring that the cost of providing high-technology science and engineering degrees is not borne by our students. Florida State University remains committed to accessibility for need-based students. III. Facilities (If this issue requires an expansion or construction of a facility and is on the Capital Improvement List complete the following table.): Facility Project Title Fiscal Year Amount Requested Priority Number 1. EOAS Building Last 3 years