{"id":327,"date":"2021-04-16T18:17:02","date_gmt":"2021-04-16T18:17:02","guid":{"rendered":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/?p=327"},"modified":"2021-04-22T14:24:14","modified_gmt":"2021-04-22T14:24:14","slug":"managing-mma-finances","status":"publish","type":"post","link":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/campus-currents\/managing-mma-finances\/","title":{"rendered":"Managing MMA Finances"},"content":{"rendered":"
\"Richard<\/div>\n

Managing MMA Finances<\/h1>\n

MARCH 16, 2020, HIS FIRST DAY on the job as MMA\u2019s Vice President of Financial and Institutional Services, Richard Rosen joined members of President Brennan\u2019s emergency committee assembled to address the pandemic crisis. Two days later, the Academy announced the campus would close and students would return home to complete the spring term remotely. \u201cThe pivot by the faculty and staff was remarkable,\u201d said Rosen.<\/p>\n

He has since also observed faculty and staff \u201dhave taken great care to prudently manage budgets.\u201d<\/p>\n

\u201cWith their help,\u201d said Rosen, \u201cwe initiated a Budget Recovery plan designed to shepherd resources diminished by the sudden and severe economic hit and then re-deploy spending to fund never anticipated health and safety measures \u2013 all related to COVID-19.\u201d<\/p>\n

Rosen initiated a budget recovery plan to shepherd resources during the pandemic.<\/p><\/blockquote>\n

Rosen also cites long-term trends presenting financial challenges. \u201cMMA must continue to deliver superior hands-on-instruction while keeping costs affordable so that every student with the desire and ability is able to attend and thrive,\u201d he said. \u201cAlso, the 20-year trend of declining state appropriation as a percent of the Academy\u2019s total budget highlights the necessity to diversify and develop new sources of revenue to maintain affordable tuition.\u201d<\/p>\n

He sees numerous opportunities ahead for MMA undergraduate, graduate, and career students, including training opportunities at the Center for Professional Mariner Development, strategic partnerships with government, industry, and philanthropy, and the continuing diversification of the Academy community.<\/p>\n

Rosen\u2019s connection with Maine stretches from his most recent job as Commissioner of the Maine Department of Administrative and Financial Services to his childhood. \u201cI grew up in Bucksport and worked summers and after school in my family\u2019s retail store,\u201d he said. \u201cAt age 15, with my new driver\u2019s license in hand, I enthusiastically made daily deliveries of inventory from the Bucksport store to our summer retail shop on Main Street in Castine.\u201d<\/p>\n

Photo: Billy R. Sims<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\"Richard
\nManaging MMA Finances<\/p>\n

MARCH 16, 2020, HIS FIRST DAY on the job as MMA\u2019s Vice President of Financial and Institutional Services, Richard Rosen joined members of President Brennan\u2019s emergency committee assembled to address the pandemic crisis. Two days later, the Academy announced the campus would close and students would return home to complete the spring term remotely. \u201cThe pivot by the faculty and staff was remarkable,\u201d said Rosen.<\/p>\n

He has since also observed faculty and staff \u201dhave taken great care to prudently manage budgets.\u201d<\/p>\n

\u201cWith their help,\u201d said Rosen, \u201cwe initiated a Budget Recovery plan designed to shepherd resources diminished by the sudden and severe economic hit and then re-deploy spending to fund never anticipated health and safety measures \u2013 all related to COVID-19.\u201d<\/p>\n

Rosen initiated a budget recovery plan to shepherd resources during the pandemic.<\/p>\n

Rosen also cites long-term trends presenting financial challenges. \u201cMMA must continue to deliver superior hands-on-instruction while keeping costs affordable so that every student with the desire and ability is able to attend and thrive,\u201d he said. \u201cAlso, the 20-year trend of declining state appropriation as a percent of the Academy\u2019s total budget highlights the necessity to diversify and develop new sources of revenue to maintain affordable tuition.\u201d<\/p>\n

He sees numerous opportunities ahead for MMA undergraduate, graduate, and career students, including training opportunities at the Center for Professional Mariner Development, strategic partnerships with government, industry, and philanthropy, and the continuing diversification of the Academy community.<\/p>\n

Rosen\u2019s connection with Maine stretches from his most recent job as Commissioner of the Maine Department of Administrative and Financial Services to his childhood.<\/p>\n

…Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":331,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/posts\/327"}],"collection":[{"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/comments?post=327"}],"version-history":[{"count":3,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/posts\/327\/revisions"}],"predecessor-version":[{"id":472,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/posts\/327\/revisions\/472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/media\/331"}],"wp:attachment":[{"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/media?parent=327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/categories?post=327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mainemaritime.edu\/mariner\/issue1-2021\/wp-json\/wp\/v2\/tags?post=327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}