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Everyone’s Favorite Topic: Finances

Everyone’s Favorite Topic: Finances

Everyone’s Favorite Topic: Finances

I won’t pretend to know everything there is about the University of Nebraska’s finances. There are a lot of highly intelligent people for whom this is their focus and I’m grateful for their dedication and insight.

My stint on the Business Affairs and Audit Committee has shed light on the complicated economics of higher education.

The committees have wrestled with a number of urgent issues, not the least of which is the issue of health insurance in the whole university system. The big question is how do we provide the best plans to meet the need?

Graduate and international students are required to have insurance.

It is critical to their ability to continue their studies that we offer the most reasonable plan we can. However the recent double digit increases in policy buy-ins and growing deductibles puts them between a rock and a hard place. This is simply not sustainable, not healthy, not working. We need to find a way to ensure the kind of access to education that brings diversity and talent to our community instead of driving students away through the many-faced specter of debt.

Capital expenses are another problem – how does the university use its borrowing/bond process? We have been using the same system for a number of years, but to evolve and adapt is to survive.

Finance staff have fortunately focused their efforts on some of these questions.

They developed a plan, for example, that would allow a better use of borrowed funds and how we present bonds. Instead of separate, smaller bonds, it was suggested we borrow more to take advantage of current interest rates. That may sound odd and the mechanism for buying bonds is too complex to explain here in a few short paragraphs, but suffice it to say that a new process would actually free up more capital and save significant resources.

Trust me, I understand why finances are not usually top of the list for cocktail party banter. It’s confronting, complicated, and honestly kind of stressful. But the more we talk it out, the more ideas we can generate, the better the future can look for everyone.

 

 

 

*Barbara’s thoughts as written by Kate based on weekly (fascinating) conversations.

A (Healthy) Shock to the System

A (Healthy) Shock to the System

A (Healthy) Shock to the System

I get the sense some people were kind of surprised by the Regents’ nomination of Ted Carter as the priority candidate for the University of Nebraska’s next president. After the announcement, here’s what happened:

We watched closely. Not just the Regents, but the staff, the faculty, and all kinds of stakeholders and community members across the state of Nebraska. This was the next official step – observing the priority candidate as he had meetings with all sorts of people.

One thing I noticed about him time and time again is that he’s incredibly candid – he answered all questions posed to him, didn’t back away from the difficult ones, and sometimes even simply agreed to disagree.

It’s a bit of a shock to the system.

Admittedly, my first reaction when he came up as a candidate was somewhat doubtful. There’s a certain air of strict hierarchy associated with military leadership structure that I wasn’t sure would blend well with academia. I’m more than happy to say that a series of extensive, deep, thoughtful discussions moved me from a place of doubt to a place of support.

We were considering many exceptional candidates, but his thoughts and actions truly set him apart.

I know people will need more time to digest this – many probably had some of the same initial doubts as I did – but I would encourage you to keep an open mind. Focus on the person, not the preconceived notions we have about leaders from the military ranks.

One thing I admire about him is his attention to detail and ability to see (and factor in) complexity or nuance of any given situation. He really seems to have a genuine focus on and care for people. Especially in a system as large as ours, I think that’s pretty critical. Okay, three things, you got me.

We have a lot of hard questions that need answers. In order to even begin to have those conversations in a productive manner we need to develop a sense of trust in our governance. Constituents from across the University of Nebraska’s system and Nebraska at large have experienced disappointments. I understand that completely.

However we cannot keep looking in the rearview mirror.

My ongoing commitment is to be as transparent as we can be and to work off of the belief that we have people who only want the best for the University of Nebraska, for the community, for the state.

 

 

 

*Barbara’s thoughts as written by Kate based on weekly (fascinating) conversations.

 

Sharing (your knowledge) is Caring

Sharing (your knowledge) is Caring

Sharing (your knowledge) is Caring

One of the great things about being a Regent is the opportunity to meet so many different Nebraskans.

It’s a new and somewhat strange experience to be recognized publicly, to have people I’ve never personally met approach me at the supermarket or in the parking lot to talk ideas and opinions. I love that people are comfortable sharing their thoughts with me, it means people trust me to listen, to be open, and that’s exactly what I’m about.

As a member of the Search Advisory Committee I have had the chance to meet a variety of people including farmers and ranchers.

One of the committee members who ranches in Cherry County and serves as a Cherry County Commissioner has great stories to tell. Those stories help illustrate the nuances of rural life I’m not very familiar with. The speaker of the Unicameral sat next to me at one of our meetings and offered all kinds of insight into the potential impact different candidates might have on that particular work. Between the different committee members, there is a wealth of knowledge on a whole range of topics that are critical to understanding the full picture of what it means to be a President of the University of Nebraska.

It was a pleasure to see that the diversity of Nebraska was sat around our very large table.

Sometimes amidst such an interesting group it’s easy to lose sight of the variety of constituencies brought to the table within each one of us. But it’s worth keeping in mind. I have the privilege and the responsibility of speaking from my experience, from the point of view of a faculty member, an alumna, as a fundraiser and as a donor. And last but not least, as a student.

At that table as we talked through the many ins and outs of considerations when it comes to recommending a candidate, people were candid, thoughtful, and respectful of different viewpoints.

This is a challenging experience.

And like anything worth doing, it’s one I am grateful for, one that I use to be a better Regent and a better person.

 

 

*Barbara’s thoughts as written by Kate based on weekly (fascinating) conversations.

The Art of Expression

The Art of Expression

The Art of Expression

Expression. It’s a tricky thing.

I’m not talking about the faces you make for pictures or the emojis you send in texts. I’m talking about the kind of communication that feels personal. Important. Tied to your DNA. The moments when raising your voice feels like putting yourself and everything you value on the line. When raising your voice feels like being exposed. That kind of expression. 

For most of my life I’ve been more used to being in the background, quietly focused on seeing that things get done without much of a fuss.

Well, that’s been changing lately. Since I started as Regent for the University of Nebraska I’ve noticed changes in how I express and perceive myself. Namely, I speak up. Share my thoughts and ideas. Challenge others if I think something merits more discussion. And even though I’ve always been reticent to talk in a crowd of people I don’t know, here I am.

Sometimes I have to remind myself that I have valid experiences and resources. I chose to serve in higher education because that’s where my life has been. I have something to bring to the table to help the university and the community I love. It’s been interesting trying to find the right balance between being new to the Regent experience and saying “I don’t understand,” and being too disruptive.

Lately I’ve been less worried about the disruptive factor. There’s been a lot of encouragement and I’m fortunate to work on a team with good listeners.

Part of it is getting to know people better – it’s easier to speak to all kinds of people when you feel more comfortable around them.

Part of it is age, I think. If you can’t say what you think at 71, when can you do it?

But part of it is something else, something harder to define. There are times when I realized I would feel bad if I didn’t speak up in the moment. I think about my daughter Katie and imagine her face if I would have stayed silent. I think about my grandchildren, and what kind of Nebraska they will live in – along with everyone’s grandchildren – when we’re done.

And I’m struck by who doesn’t get a voice.

In that way I’ve been emboldened to help provide a platform for people, for a diverse set of voices. After all, I wasn’t elected to sit on my hands. Not when there’s work to do.

 

 

*Barbara’s thoughts as written by Kate based on weekly (fascinating) conversations.