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Forbes names ACU in top 100 most fiscally sound

By Kirsten Holman
Posted on September 4, 2013 | News | Comments Off on Forbes names ACU in top 100 most fiscally sound

ACU ranked number 100 on Forbes’ list of financially sound, private and not-for-profit colleges in FORBES College Financial Grades. The new financial grades were determined by looking at the balance sheets and the operational strength of each university.

Forbes determined the financial GPA for ACU is 3.737, which put ACU in the “A” grading category.

“It’s a fantastic reflection of the university,” said President Phil Schubert. “We’re very proud of that especially considering that just a couple of Texas schools are ahead of us.”

ACU ranked above the following universities on the grading scale: Pepperdine (132), McMurry (162), Hardin-Simmons University (177), Harding University (355) and Baylor University (462).

Forbes referenced data from the Department of Education regarding the most recent fiscal years of 2010 and 2011 to reach their results. Forbes judged over 900 private schools under a nine-tiered grading system which included the following categories: endowment assets per FTE (15 percent), primary reserve ratio (15 percent), viability ratio (ten percent), core operating margin (ten percent), tuition as a percentage of core revenues (15 percent), return on assets (10 percent), admission yield (10 percent), percent freshman getting institutional grants (7.5 percent) and instruction expenses per FTE (7.5 percent).

“In higher education, finance these days is a pretty turbulent journey,” said President Schubert. “It’s an industry that has a number of challenges and ACU is no different. We have certain things that we continue to be challenged every day by a financial stand point, but a ranking like this is a great reinforcement to suggest ACU has done very well relative to those around us.”

Steven Holley, new chief financial officer at ACU, also said financial stability in education is challenging.

“Colleges and universities are facing tougher times like most industries in the world,” said Holley. “Higher education institutions, however, are mission bound to provide for the future of our world through the equipping of the next generation of leaders.”

Holley said he is confident that the fiscal position of ACU will help equip each student and provide them with the advantage they need in the work field.

“In a competitive marketplace, students need every advantage to find a job and thrive in that job,” said Holley. “ACU is poised fiscally and spiritually to provide students with that advantage. My team will execute the strategies necessary to keep ACU in a position to provide that advantage to our students.”

ACU has made great strides towards fiscal stability and will continue to try and maintain fiscal health in the future, said President Schubert.

President Schubert said, “We’ve worked hard to try to mature the financial strength of ACU and that’s extremely important as we strive to provide the funds to people and programs and our students in a way that delivers a world class academic experience in a Christ-centered environment.”

avatar Posted by Kirsten Holman on Sep 4th, 2013 and filed under News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.  - This post has been viewed 14039 times.

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