Priority 5: Increase and Diversity Financial Resources and Enhance Operational Effectiveness

Our goal is to strengthen philanthropic support and ensure university resources and operations to support long-term growth, sustainability and excellence

According to the State Council of Higher Education for Virginia Plan for Higher Education, “Increasing attainment rates across educational sectors requires a shared commitment by policymakers, education providers and communities. Creating shared commitment can allow these organizations and regions to identify problems, define strategies and set tailored attainment goals that align with the populations they serve.”  As part of our strategic plan, we will look for ways to save and reallocate funds to help maintain a low tuition rate without compromising the quality of education.  We will look to businesses and community organizations to help support services, fund initiatives, and invest in research and project based learning initiatives. 

Priority 5 Objectives:

Build a portfolio of revenue producing capital projects that complement and support the University’s mission

Strategic Actions

  • Partner with Virginia State University Real Estate Foundation (VSUREF) to identify, evaluate, build and manage a portfolio of capital projects that fills an educational need within the university
  • Develop and execute an operating plan that defines the roles and responsibilities of the VSUREF and VSU in identifying and managing potential revenue producing capital projects
  • Identify and explore funding opportunities between corporate and private sponsors that may have existing synergy between proposed revenue producing capital projects and their respective operations

Increase and diversify funding streams to enhance revenue mix

Strategic Actions

  • Develop a strategic institution-wide fundraising campaign to enhance resources to support academics, athletic programs, endowment and operational needs
  • Increase alumni engagement and giving
  • Increase community and corporate partnerships to increase funding and resources to support the academic, athletic, and operational needs of the University
  • Improve revenue from auxiliaries operations
  • Stimulate research scholarship that leads to the generation of commercialized intellectual property
  • Market intellectual property and develop business incubators
  • Improve the offering of self-supporting cultural and other events to the students and community in the Multipurpose Center
  • Partner with Virginia State University Foundation (VSUF) to identify and evaluate major fund-raising opportunities to support the strategic plan

Enhance the effectiveness and efficiency of our business operation

Strategic Actions

  • Conduct business process reviews (BPRs) of prioritized operations and programs to ensure services are being delivered efficiently
  • Invest resources to achieve the maximum return on the investment in educational programs, technology, infrastructure, faculty, and staff
  • Align internal policies, processes, and procedures to drive increased efficiencies
  • Invest in innovative technology to improve efficiency and effectiveness of business services
  • Streamline the hiring process for staff and administrators
  • Engage in ongoing planning and assessment for continuous improvement and sustainability
  • Improve customer service throughout the university and overall constituent satisfaction
  • Remove barriers to information sharing




Allocate resources efficiently to ensure a sound return on investment

Strategic Actions

  • Define financial metrics, and return-on-investment expectations for critical projects+
  • Create a cost effective resource allocation process to integrate planning-based budgeting, and data-driven decision making in all academic and administrative units
  • Annually assess the impact of departmental spending and resource allocation
  • Establish appropriate reserve funding levels for auxiliary funds

Develop university–wide accountability and continuous improvement plan

Strategic Actions

  • Provide annual planning, budgeting, and assessment training workshops for all faculty, and staff
  • Develop standard operating procedures manual for each unit/department within the university
  • Define the annual evaluation process and tools for staff and administrators
  • Develop a streamlined communication plan to document all institutional regulatory compliance requirements at the local, state, and federal levels 

Improve campus facilities to support the needs of our students, faculty, staff and administrators

Strategic Actions

  • Implement a capital campaign to help upgrade and maintain the campus
  • Work with state legislators to plan and build a new Academic Resource, Health Education and Physical Training Center
  • Work with the corporate donors to plan and build a Student Union building to replace Foster Hall
  • Improve transportation access to campus

Evaluate the Athletic Sport Program marketing processes, offerings and level of competiveness  in relation to long-term institutional growth

Strategic Actions

  • Engage an outside firm to holistically assess the athletics program and the feasibility of changing divisions
  • Provide opportunities for alumni and the Athletic Boosters to engage in the feasibility study