The University of Iowa launched its Revenue and Efficiencies Strategic Plan Action and Resource Committee, or reSPARC on Aug. 14. ReSPARC is a collaborative group of committees that work on and put forward proposals to increase revenue generation and initiatives for efficiency for the university.
The committee was created with the intention of identifying long-term strategies for increasing revenue, improving operational efficiency, and ensuring financial success. The committee is made up of about 100 faculty members, staff, and campus leaders.
All proposals created within the committee will be reviewed by committee leaders, and then eventually passed up to UI President Barbara Wilson and the Executive Vice President and provost, Kevin Kregel for a final evaluation. Wilson recently spoke about the program at the Iowa Board of Regents meeting held at the University of Northern Iowa on Sept. 18.
“When we announced the reSPARC committee, we shortly thereafter, received about 100 faculty and staff who want to be involved in this,” Wilson said. “They’re volunteering their time and their energy around these activities.”
Amy Kristof-Brown, dean of the Tippe College of Business, co-leads the efficiency committee focused on marketing and communications with Pete Matthes, vice president for external relations at the Office of the President.
“In order to keep tuition affordable, we need to redouble our efforts to serve students with programs they want, but to do so efficiently,” Kristof-Brown said. “It’s important to know that the University of Iowa is making these efforts proactively, to ensure that we’re always giving students the most for their money”
ReSPARC co-chairs Sarah Sanders and Emily Campbell are spearheading the committee which is split into two groups of multiple teams. The revenue team includes corporate sponsorship and philanthropy, new academic programs — traditional and online, student enrollment mix, student retention, and other programming. The efficiency team includes academics, financial operations, human resources, marketing and communications, and other opportunities.
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“We’ve got separate groups working on: ‘How do we enhance corporate sponsorship and philanthropy? How do we think about new non academic programs, particularly during this summer? How do we think about second year retention?’” Wilson said.
The reSPARC committee will also focus on increasing second-year retention. Second-year retention has become an increasingly important goal to the university after working over the past couple years to increase first-year retention, Wilson said.
“Now let’s take a really critical look at second year retention, so we can continue to see our graduation rates go up, as they are doing,” Wilson said.
While the revenue team is more focused on ensuring events are revenue generators and taking advantage of opportunities to fundraise, the efficacy team will prioritize the use of space, time, and money in ways that benefit the university and its students.
“Our goal is to efficiently increase the impact of the marketing and communication efforts across the university. We can focus efforts on the most effective ways to communicate the amazing things happening at the University of Iowa,” Kristof-Brown said.
The university and the reSPARC committee have high hopes for the program and what it will do for students and faculty alike.
“We’ve got a lot of buy-in right now, and we’re hoping to continue to encourage people to think outside the box,” Wilson said.