Partnerships A final strategy was for the College to partner with key constituents to garner financial support for our various programs. Educational support came through the Veterans Administration Nursing Academy (VANA) program in conjunction with the Charleston Ralph H. Johnson VA Medical Center, as well as with our own MUSC Medical Center. Research support was derived from increasing collaborations with other professionals across campus on federally funded grants. The
Spring | Summer 2012
Development Office doubled its efforts to secure additional funding as well.
Reaching the Peak The result of these strategies is that over the past five years, while state appropriations fell, tuition revenue from increased enrollments and revenue from funded grants has increased (see CON Revenue graph on p. 9). Furthermore, as a university response to the change in revenue streams, MUSC has implemented a new budget model called Responsibility Centered
Management (RCM) (see New Financial Model on p. 11). With this model in place, the College of Nursing now has the opportunity to better forecast its financial future and thus control its destiny. Today the College of Nursing is fiscally sound, educationally robust, clinically productive, and research intensive. Together, with great effort and passion, we have climbed the mountain and we are enjoying the view with pride.
MUSC College of Nursing magazine - Spring/Summer 2012