Did Auxiliary Services Cave Higher Education?
As a follow up to last year’s webinar “Can Auxiliary Services Save Higher Education”, our speaker returns for a follow-up presentation to discuss the impact of Covid-19 to our institutions. The refunds of room and board experienced in Spring 2020 coupled with the loss of summer revenue such as camps and rentals, followed-up with a Fall 2020 to remember, where institutions are grappling with decisions to be on-campus, remote learning, and every scenario in between, the question will be how much of an operating loss the institution can absorb. The reason is partially due to uncertain enrollment, but more so the illumination of the dependency on auxiliary services for an institution’s operating margin. So, without these revenues, has auxiliary services caved higher education, or is there an alternative to bounce back even stronger? In this presentation, we will discuss the opportunity this crisis has presented for the financial sustainability of higher education.
William Guerrero Chief Financial Officer and Vice President for Finance University of Bridgeport