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News Brief

May 24, 2017MARYVILLE, Mo. |  By: Coffey

Northwest Missouri State University nets $66.5 million in cost savings over 4 years

Northwest Missouri State University officials have released information on cost savings achieved by the school over the past four years. According to the report, Northwest estimates $66.5 million in cost containment and efficiencies between 2012 and 2016.

Northwest realized approximately $18.3 million by replacing University spending on academic, program and facility needs with grants and other funds. The school also generated more than $11.2 million in funding by offering additional products and services and saved more than $9.7 million by refinancing debt.

The University also cites its  student employment program offering 1,200 profession-based roles to students and repurposing or restructuring its workforce, saving an additional $7.1 million in labor costs. $5.8 million were saved through managing contracts to optimize services and $4.9 million through optimizing processes. Another $2.5 million was saved by using technology to reduce labor costs and $2.4 million through  employee wellness  programs.

The report also says Northwest took similar actions between 2009 and 2012, but the recent review does not quantify those measures.