{"id":2839019,"date":"2024-07-30T10:55:13","date_gmt":"2024-07-30T15:55:13","guid":{"rendered":"https:\/\/test.stfrancis.edu\/?p=2839019"},"modified":"2025-06-26T13:14:53","modified_gmt":"2025-06-26T18:14:53","slug":"financial-viability-tool-created-by-usfs-gard-garnering-attention-in-private-higher-education","status":"publish","type":"post","link":"https:\/\/stfrancis.edu\/financial-viability-tool-created-by-usfs-gard-garnering-attention-in-private-higher-education\/","title":{"rendered":"Financial Viability Tool Created by USF\u2019s Gard Garnering Attention in Private Higher Education"},"content":{"rendered":"\t\t
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Joliet, Ill. \u2013 The landscape of higher education has changed dramatically since the COVID-19 pandemic emerged in early 2020. Smaller, private institutions, in particular, have since faced publicly-recognized enrollment challenges that, because of the financial implications associated with enrollment declines, have resulted in institutions reaching the decision to close their respective doors forever. While smaller, private colleges and universities currently operating today continue to navigate these struggles and work to prevent the potential of arriving the same fate as some of their less fortunate peers, a new financial tool developed by Julee Gard, Ed.D., CPA, CMA, USF Vice President for Administration and Finance, is gaining attention for its ability to provide important strategic perspective to higher education leaders as they look to the immediate future and beyond.<\/p>

For her dissertation as part of her recent doctoral program studies at the University of Pennsylvania, Gard created her Financial Viability Index for smaller private institutions. The tool presents institutions with a way to calculate eight different financial metrics using financial data from audited financial statements, taking in to account the value as well as the 3-year trend of each metric.\u00a0 The resulting score, on a scale of 1 to 100, is assigned a color code indicative of overall financial health ranging from blue (excellent), down to green (very good), yellow (good), orange (marginal), and red (poor). The combination of the color coding and numerical score provides institutions with valuable trend data across several critical areas of measure that can be used as part of planning efforts to enhance their financial viability. Important to note, though, is that the tool is not meant to predict institutional closures.<\/p>

\u201cMy hope was the Financial Viability Index could be used by higher education leaders (financial and non-financial alike) to help understand the underlying values and trends driving an institution\u2019s given score and associated color coding, as well as to provide actionable information to help institutional leaders respond timely and effectively to financial viability concerns,\u201d said Gard.<\/p>

Gard\u2019s work has already gained attention from smaller, private institutions across the nation, as well as from high-profile media outlets. In fact, Gard has responded to multiple requests in recent months to offer insight based on her Financial Viability Index. Recent articles in which Gard has appeared include:<\/p>