impact of college operations impact of student spending impact of alumni

15
Suffolk County Com m unity College FY 13

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Page 1: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Suffolk County Community College

FY 13

Page 2: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI
Page 3: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

impact of COLLEGE OPERATIONS

impact of STUDENT SPENDING

impact of ALUMNI

Page 4: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

• Calculate initial sales generated in region

• Derive sales created by multiplier effects

• Convert results to income

Page 5: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

College payroll Income created by the spending of the college and

its employees

$116.9 million

impact of COLLEGE OPERATIONS

Page 6: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Income created by the spending of out-of-region

students

Income created by the spending of businesses patronized by students

$6.5 million

impact of STUDENT SPENDING

Page 7: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Higher wages of former students + increased output

of businesses

Income created by the spending of students and

businesses

$723.1 million

impact of ALUMNI

Page 8: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

A D D E D I N C O M E I N R E G I O N

Impact of college operations

Impact of student spending

Impact of alumni

Total impact

$116.9 million

$723.1 million

$846.5 million

$6.5 million

Page 9: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

STUDENT perspective

SOCIAL perspective

TAXPAYER perspective

Page 10: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

• Calculate benefits and costs to stakeholders

• Derive the future benefits stream

• Discount results to current-year dollars

• Determine net present value, benefit-cost ratio, and rate of return

Page 11: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Benefits = Greater job opportunities + higher

lifetime income

Present value of benefits

Present value of costs

Net present value (benefits minus costs)

Benefit-cost ratio (benefits divided by costs)

Rate of return

Costs = Tuition and fees + books and supplies

+ forgone time and money

$886.4 million

$273.1 million

$613.2 million

3.2

13.1%

STUDENT perspective

Page 12: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Benefits = Expanded economic base + savings

related to improved health, reduced crime,

and reduced unemployment

Present value of benefits

Present value of costs

Net present value (benefits minus costs)

Benefit-cost ratio (benefits divided by costs)

$4.8 billion

$411 million

$4.4 billion

11.7

Costs = All college expenditures and all student expenditures

and costs

SOCIAL perspective

Page 13: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

Benefits = Added tax revenues + reduced

demand for government services

Present value of benefits

Present value of costs

Net present value (benefits minus costs)

Benefit-cost ratio (benefits divided by costs)

Rate of return

Costs = State and local government funding

$465.2 million

$108.8 million

$356.5 million

4.3

10.9%

TAXPAYER perspective

Page 14: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

• Creates new income in the region• Supports local jobs• Sustains a skilled workforce• Increases students’ lifetime income• Expands the state’s economic base• Improves quality of life

Suffolk County Community College

Page 15: impact of COLLEGE OPERATIONS impact of STUDENT SPENDING impact of ALUMNI

T H E R E S U LT S O F T H I S S T U DY W E R E P R E PA R E D BY

F O R A C O P Y O F T H E R E P O R T, P L E A S E C O N TA C T T H E C O L L EG E .