University Business December 2006 - (Page 52)

Smart 101 Revenue Generators and Money-Saving Ideas 51 maintain its regular seating only, many others note that the boxes will create 51. Defer to the data. That is, use a database to track and quantify your insti- prime revenue opportunities. Revenue from the luxury boxes is expected to help tution's deferred maintenance backlog facilities projects that need to be com- pay for the overall costs of the stadium's $226 million renovation, scheduled for pleted . A complete facilities inventory and assessment, with information in a completion by August 2010. database, can make facilities management less prone to unexpected disasters and translate into big savings over the long run. Many firms, including DSA Architects, 45 45. Make the next stadium a multiuse facility. These new structures, in place offer databases to help quantify the assessment process, but the reporting can at California State University, Dominguez Hills; Nova Southeastern University also be done using an institution's own systems. Fla. ; and other campuses, incorporate football fields, baseball diamonds, and 52 52. Look into facilities outsourcing or in-sourcing . The big savings is in track and field areas, as well as offer space for trade shows salary and benefits from the reduced workforce. The University of Bridgeport and parking. The new facilities create strong links to the Conn. outsources buildings and grounds maintenance, janitorial services, secu- community and can generate profits. Cal State's 125-acre rity, mailroom operations, and information technology. In three years the prac- multiuse facility provides about $200,000 in annual rev- tice turned a deficit into a $2.5 million surplus on the operational bottom line. But enue from sports events ticket revenue and parking fees. at Lehigh University Pa. , since the facility staff had developed expertise in the 46 46. Get into the hotel biz. The University of Delaware partnered with a Penn- HVAC system, it was more cost effective to bring the service back in-house when sylvania business group to fund a new campus hotel to complement the univer- the contract expired. sity's conference center. UD agreed to put up 75 percent of the funding, or $9 53 53. Implement parking fees. Camden County Col- million, to build the hotel, but it also gets 75 percent of the proceeds. Further, it lege N.J. uses the fees from its new parking garage draws travelers to campus who otherwise would have to stay at another hotel to pay the debt service on its new technology center. two miles off campus. Members of the public pay $7.50 per day or $108 per 47 47. Upgrade for efficiency. Physical upgrades and retrofits at The University of month faculty and students get a discount . This al- British Columbia led to $3 million in annual savings. They realized an additional lowed the college to add needed educational space, $11.3 million in savings by cutting paper usage by 58 million sheets and energy as well as contribute retail space to neighborhood usage by 76.3 million kilowatt hours. revitalization efforts. 54 48 48. Hit a building partnership into the ballpark. Colleges and minor league 54. Aim for parking profits. Reconciliation and management of parking revenue baseball teams are increasingly opening stadiums together saving money and for concerts, sporting events, and conventions can be inefficient and costly. Cali- perhaps providing a better facility for both parties. One such ballpark is Fitton fornia State University, Fullerton staff use a handheld device called PermitNow Field in Worchester, Mass., a 3,300-seat facility renovated by College of the Holy www.t2systems.com to issue parking permits and receipts more quickly while Cross and the Worcester Tornadoes and designed by Geller Sport. Because col- improving revenue and staff accountability. The system enables easier tracking lege and professional baseball team schedules don't typically overlap for entire of specific event sales, reduces the risk of audit problems, and eliminates the seasons, scheduling conflicts are less common than you might think. need for cumbersome preprinted stock permits. Reports outline revenue gener- ated and note the payment method for all transactions. The detailed tracking 49 49. Refurbish infrastructure. A Juniata College Pa. helps reduce the possibility of revenue loss. infrastructure project renewed all its heating, cooling, telecom, and electrical infrastructure for greater ef- GREEN EFFORTS ficiency and savings. In addition, its new boilers can 55 55. Automate power controls. Tufts University Mass. uses EZ Save software be adapted to run on natural gas or heating oil. The www.energystar.gov to power down unused computer monitors, which should results? This year Juniata saved several hundred save $90,000 per year. And Tufts uses the VendingMiser from USA Technolo- thousand dollars by locking in a price for natural gas gies on its beverage vending machines, saving $17,280 per year. The University before oil went through the roof. Last year a switch to of North Carolina at Charlotte installed equipment from Venture Lighting that heating oil while natural gas skyrocketed also saved. automatically dims the overhead lights as the ambient natural light increases, 50 50. Keep track of facility use. Maryville University Mo. leaders found that reducing energy consumption by 50 percent. they could save money by closing some parts of the campus that had little use 56 56. Get a clean start. By having its custodial staff clean early in the evening, over the summer. For example, after nonuse of the campus pool was documented, rather than waiting until midnight, the University of Denver saved on its lighting it was temporarily closed this past summer, saving the institution slightly more bill. This was just a small first step toward a larger goal of working with faculty, than $20,000. 52 | December 2006 universitybusiness.com RevGen.indd RevGen.indd 52 11/17/06 4:05:19 PM http://www.t2systems.com http://www.energystar.gov http://universitybusiness.com

Table of Contents for the Digital Edition of University Business December 2006

Table of Contents
College Index
Company Index
Advisory Board
Editor's Note
Behind the News
Viewpoint
Future Shock
Admissions
Financial Aid
On the Hill
EDUCAUSE 2006 Highlights
Technology Spending Survey '07
101 Smart Revenue Generators (and Money-Saving Ideas)
Parking: A Lot To Look At
Engaging Alumni Online
One River, Not Two Streams
Internet Technology
What's New
Calendar of Events
Direct Connect
End Note

University Business December 2006