Ivy Denise Locke has joined Rhode Island College as vice president of administration and finance. Locke most recently served as vice president for business and finance at Southeast Missouri State University. Prior to that, she was vice president of fiscal affairs at Stillman College and assistant professor of finance at Florida State University.
PBN: How do cuts in the state higher education budget affect RIC?
LOCKE: During times of high rates of inflation and higher rates of increase in the costs associated with delivering educational services, reductions in state appropriations can be detrimental to institutions like RIC. Our expenses are predominately personnel-related. We seek internal efficiencies before passing the impact of lost state funding on to students. Absent other options, raising tuition remains the primary source of offsetting reductions.
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PBN: What role do you see for fund raising?
LOCKE: Contributions supplement other funds to cover the costs of projects that might not otherwise be completed. Private gifts are generally restricted to one-time uses for acquisitions, construction or renovations. Because fund raising usually generates one-time or endowed gifts, such proceeds are not usually used for operations that are ongoing expenses. Endowed gifts are invested in perpetuity with only a portion of the earnings being expended, usually for scholarships.
PBN: What building projects are in the works?
LOCKE: The state has engaged the Bacon Construction Co. of East Providence to construct a residence hall. When complete, [it] will be the largest structure on campus, with 125,000 square feet of floor space. … The project is slated to take some 15 months to complete and remains on its original timetable calling for occupancy at the beginning of the fall 2007 semester.
PBN: What are your long-term challenges and goals?
LOCKE: The college’s long-term commitment is to maintain affordable access to higher education. The college aspires to enhance its computer facilities that allow discipline-specific simulations for the sciences, arts and professional curricula. We seek private and public funding to support growth in instructional technologies such as Web-based software, electronic classrooms and the exploration of the governor’s goal for Rhode Island to lead the nation in wireless applications.
