The analysts hired to conduct a study of ways to save money at the three state supported universities estimate their recommendations could save between 30 and 80 million dollars a year –but caution that range will likely change in the coming months. The Board of Regents began a second round of public forums on the issue Monday, and it was the first time the representatives of Deloitte have discussed a possible amount of savings.
Deloitte director Rick Ferraro stresses, that number is subject to change. “We know from experience that even the ranges we estimate this early in the process get adjusted as you find new info, have discussions about alternative ways to make adjustments. Maybe we were misinformed, maybe it isn’t practical,” Ferraro says.
During the first of three forums on the issue at the University of Northern Iowa, analyst Gary Sutton says changing how the schools buy goods and services could save tens of millions. “There appears to be an underinvestment in the personnel resources and technology needed to capture and retain these higher levels of savings,” Sutton says.
There is another public forum scheduled Wednesday on the University of Iowa campus, and a third at Iowa State University next week. The Board of Regents is paying Deloitte $3.5 million for the first two phases of the study.