Silliman University is looking for ways to increase its non-tuition revenues in preparation for the ASEAN integration in 2015 and the implementation of the K to 12 educational system which will “severely” affect college enrolment in 2016.
Mark Raygan Garcia, director of the Office of Information and Publications, said that the tuition revenues, comprising the total tuition collection of all the enrolled students in the university, are only less than 70% of the cost of education.
“The tuition you pay represents only less than 70% of the cost of education and the tuition revenues are not enough to operate a university like Silliman,” Garcia said.
In order to address this problem, Garcia said that the university is now expanding its non-tuition revenues.
“Non-tuition revenues are auxiliary incomes that come from the cafeteria, dormitory, and rent of tenants in Portal West, Jollibee, BDO, and soon, Portal East.”
This action of the university is also to maximize the utilization of the university’s 10% commercial zone.
“Out of the five university zones, which include the academic, medical, residence, and administrative, the commercial zone is only 10% of the total land area of Silliman University,” Garcia said.
With the auxiliary income coming from the commercial zone of the university, Garcia added that by 2016, “there will be a regular stream of income.”
Aside from the increase in non-tuition revenues, the university is also doing some cost-saving measures.
This school year, the university deducted 50% of the CAPEX or capital expenditures, where budget for construction of buildings, among others, is taken.
“The university has two components. The OPEX (operational expenditures) which includes the salaries of the faculty and staff, the utilities, the budget of the offices for travels, and etc., while the CAPEX includes the purchase of equipment and the construction of buildings, among others,” Garcia said.
With these measures, Garcia said that the university, by 2016, can still operate and can pay for the salaries of the faculty and staff.
“Unlike in other universities, who are planning to lay off or terminate their staff because of the possible outcome in 2016, here in Silliman, the administration wants to improve the operation, continue the operation, without compromising the faculty and staff,” Garcia said.
Garcia added that although the university is not 100% ready, the administration is now looking for more alternatives to equip Silliman for 2016.
By Nova Veraley V. Grafe