Message from the President – Fiscal Sustainability, November 19, 2024
Dear Community,
As we face an evolving and challenging financial landscape, it is crucial for us to reflect on what fiscal sustainability truly means for Portland Community College. While the term may often be associated with budget balancing or immediate cost-saving measures, fiscal sustainability extends far beyond our budget process. It is about building a solid financial foundation that allows us to fulfill our mission, support our students, and uphold our commitment to equity and community impact well into the future.
Fiscal sustainability at PCC is a holistic approach that involves thoughtful resource allocation, proactive planning, and ongoing financial oversight. Our goal is not merely to respond to current financial challenges, but to position the college for long-term resilience and success. We align our practices with the Northwest Commission on Colleges and Universities (NWCCU) Accreditation Standard 2.E, which emphasizes the importance of financial stability and sustainability as key components of institutional effectiveness.
According to NWCCU Standard 2.E.1, institutions must demonstrate financial stability through audit processes and regular reporting, ensuring sufficient cash flow and reserves to achieve their mission. Standard 2.E.2 further requires that financial planning include meaningful stakeholder participation, realistic development of financial resources, and comprehensive risk management. At PCC, we are committed to upholding these standards, making strategic financial decisions that support both short-term health and long-term sustainability.
By embracing fiscal sustainability as a core principle, we can navigate the uncertainties ahead while continuing to deliver high-quality education and services. It is through collaborative effort and shared commitment that we will maintain the financial health needed to fulfill our mission and support future generations of learners.
I invite you to explore more about our approach and the strategies outlined in the Fiscal Sustainability Framework and Action Plan.
Together, we can safeguard the financial well-being of our college and continue to build a stronger, more resilient PCC for many years to come.
Sincerely,
Dr. Adrien L. Bennings
President, Portland Community College