Our guest speaker on Wednesday, February 14th, was Southern Oregon University’s President, Rick Bailey. President Bailey was introduced by club member Lyn Hennion, who served on the SOU Board of Trustees and chaired the Search Committee that hired him.
President Richard J. Bailey, Jr., joined SOU in January 2022, after overseeing the resurgence of Northern New Mexico College during five-plus years as president. Dr. Bailey earned accolades on and off campus while at Northern New Mexico College, increasing enrollment by more than 20 percent, cutting student loan defaults by more than 50 percent and more than doubling the college’s graduation rate – all without an increase in tuition rates.
President Bailey’s presentation outlined some of the challenges, the approach, and the opportunities for SOU moving forward. A snapshot of financial projections from Sept ’22 vs. Oct 23 highlight a projected turnaround from a $13.2M deficit to revenue now projected to exceed costs for the 2026-27 school year by $3.2M.
Factors helping to contribute to this turnaround include increases from fall 2022 to fall of 2023 in:
- 15.9% increase in first-year students
- 10% increase in transfer students
- Increase in first year retention rates
- Increase in overall undergraduate rates
To learn more about President Bailey and the SOU Plan please go to SOU Office of the President