Situation:
The Department of Athletics & Recreation was forecasting a deficit and was seeking a long term financially sustainable plan that enhanced the longer term financial picture and aligned resource allocation decisions with their developing strategic and operational direction.
Our Actions:
- Meetings with stakeholders to understand the department’s strategic priorities, funding/cost structure and allocation method, staffing and capital plan, major revenue and cost containment opportunities, and key measures for operational efficiency in core areas
- Benchmarking of core areas to other comparable units and gap analysis
- Identification and assessment of revenue and cost containment opportunities
- Financial modeling of impact of revenue and cost containment opportunities, including prioritization of opportunities in accordance with the Department’s strategic priorities
- Develop recommendations and measures of success
Results:
- SDS developed a financial modeling tool with scenario capabilities which can be used to test options for both long-term financial impact and scoring based on alignment with strategic priorities, such that resource allocation decisions could be made using a systematic, informed basis
- SDS provided recommendations on the prioritization of investment in revenue opportunities, allocation methodology and cost containment strategies that optimized the longer term financial return and strategic wins
- SDS provided KPI’s to measure achievement of operational goals in core areas