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HomeMy WebLinkAboutStrategic Plan Status - Jan 2008 Revised January 2008 TSHA STRATEGIC PLAN – STATUS REVIEW BY BOARD COMMITTEE There are twenty five Strategic Initiatives under seven headings in the TSHA Strategic Plan as approved by the TSHA Board of Directors in November 2006. These are listed below with the actions taken to date. PROGRAMS AND SCHOLARSHIPS Expansion of scholarships for needy……Increased from 43% in 2006 to more than 50% in 2007 Expansion of scholarship values……….. Budget dependent, Recommend Incremental Scholarship value remain at current $2500 per year, a $10,000 total 4 year value. Over flow facility secured in College Station doubled slots available in College Station in 2007. 2008 availability TBD due sale of facility. Full Scholarships increased by 20% to 30 total. Expansion of scholarship institutions….. Formation of a 501(c) 3 nonprofit Texas Student Housing Organization as a separate entity of the Town of Westlake through which added properties might be acquired and managed. The process requires a cash input other than from TSHA to continue and may need Board of Alderman consideration. Westlake Academy scholarship issue….. Direct TSHA scholarship awards is probably not in keeping with TSHA policy of state wide scholarship equality. Town of Westlake scholarships managed by TSHA might be considered as future alternative. Expansion strategy……………………...Covered above in Expansion of scholarship institutions Documentation of scholarship admin..…Accomplished and used in evaluation of 2007/2008 scholarship awards. Policy is now to raise the lowest of the three academic parameters to mid point of its numerical range aiding both low SAT achievers and those not in top percentages of class ranking. Develop automated tools for evaluation..Revised approach implemented with evaluation process using 15 parameter, 250 total point format. Automated entry not to be implemented at this time. Scholarship acceptance ratio…………….Improvement in 2007 cycle with revised selection process and by getting verbal acceptances prior to firm offers of new full scholarships. High renewal for Fulls already experienced in 2008. UNT freshman on campus policy……….TSHA letter to UNT President addressed scholarship equality. Will continue effort in 2008. Page 2. TSU freshman/sophomore on campus policy…….TBD later after resolution of UNT issue Cambridge tax issue…………………….. No resolution by Brazos County Court. Project would be libel for any judgment/charges imposed. Property Manager potential misconduct…Asset Management oversight by TSHA of finances and properties is in a thorough and consistent manner. Also Board Treasurer performs active oversight of financials. Student injury potential………………….Property Management resident policies and actions to monitor and enforce are consistent with student housing industry standards. Continued purchase and oversight of proper insurance coverage for properties and Authority. FINANCIAL AND ASSET MANAGEMENT Property debt restructure……………… San Marcos and Town Lake possible restructure actions are underway. Cash reserve and investment policies…..TBD by Board and staff. Threat of potential theft/mismanagement.. Staff and Board oversight ongoing. Inept actions by Trustee has resulted in replacement with new one Inept actions by bank has resulted in replacement. CHIEF EXECUTIVE Compensation strategy for president……TBD by Board Succession Plan……………………… ....TBD by Board and staff BOARD Board size/recruitment………………….TBD by Board Board Job Description…………………..Draft for Board consideration Board orientation/training………………TBD by staff Board engagement strategy……………..Two board /staff committees activated INTERNAL COMMUNICATION Staff communications to Board…………Provided and ongoing. Two new TSHA Power Point presentations provided in Nov. 2007. One is for TSHA Board &Town of Westlake Board of Aldermen. Page 3. EXTERNAL COMMUNICATIONS… Publicity Impact ……………………..One new TSH Power Point presentation is for outside interests and is included on new TSHA website. TSHA status on website updated in late 2007. Expanded contacts and solicitations with Texas high schools and community colleges and now with all Texas private, parochial and charter schools. On going contacts with Trustee, bond holders and rating agencies. GOVERNANCE DOCUMENTS Board governance issues…………… TBD by Board _______________________________________________________________________________ UPDATE: Directors McKean and Shultz and President Smyth met in December to review the plan status. The Strategic Plan Status was reviewed in detail and the President was requested to update the status. That is reflected in the above document. In addition high risk items for TSHA were discussed as follows: 1. Size and makeup of the Board 2. The Cambridge tax issue 3. Authority Investments 4. Scholarship acceptances 5. TSHA Management tenure and future Respectively submitted: Hank Smyth, TSHA President