In addition, the Board of Regents approved the revised and prioritized Capital Outlay Needs for Main Campus of New Mexico State University for 2000-2005 (Five Year Plan) on July 30th, 1999, which contained the following provisions related to space management:
- Create a new paradigm for management of space on campus. Manage this asset based on University needs. Create an atmosphere that rewards efficient utilization of space.
- Focus future capital outlay efforts on ensuring that we protect our existing assets before we add additional assets. Accept our role as stewards of the investment that citizens of this State have made in this campus and protect that investment to the best of our ability.
- Establish and enforce standards for the efficient utilization of space so that future enrollment growth can be accommodated within existing space.
Facilities and space are the university’s largest and most valuable physical asset. Statewide, the university owns or leases nearly six million gross square feet with a replacement value of close to a billion dollars. Sound business practices in addition to the administration’s concerns dictate a need to properly manage such a substantial resource.
Overhead cost recovery from externally funded grants and contracts as well as “G side” funding from the state are driven by square footage data. This requires efficient management of space and data to ensure the university is receiving its fair share of funding.Effective space management will bring about more efficient utilization, resulting in better use of our operational dollars as well as the potential for increased revenue.
In recent years before approving capital funding the Commission on Higher Education and the Legislative Finance Committee have required far more rigorous proof of need based on quantitative analysis.