Specifications include, but are not limited to: The offeror will review data collection requirements; endeavor to understand the South Dakota Board of Regent’s (BOR) goals, current academic portfolios, employer/workforce demand, and related enrollment trends; and work with the BOR staff to deliver the following: • Analyze prior years’ data in the following areas to inform the financial resiliency report: o Enrollment trends by institution and by academic program o Tuition and fee revenue o State and federal funding o Operating expenses o Cash flow o Reserve levels o Student FTE to faculty FTE o Instructional expenses per faculty FTE by program and department o Net revenue by academic program • Identify programs that are strong contributors to the institutions’ financial health or that have an opportunity for growth based on the projected workforce demand and enrollment pipeline. • Identify underperforming or resource-intensive programs that may require restructuring, supplemental funding, realignment, or potential discontinuation. • Develop a set of realistic adverse scenarios that could impact the financial health of the BOR institutions. o Define the assumptions, parameters, and variables for the stress tests. • Apply the selected adverse scenarios to the financial/programmatic data of the BOR institutions, as follows: o Conduct stress testing analysis using appropriate quantitative techniques and models. o Evaluate the impact of the adverse scenarios on the financial health of the institutions. o Identify potential vulnerabilities and areas of concern. o Determine critical decision points and options to mitigate potential adverse scenarios and vulnerabilities. • Prepare a comprehensive report summarizing the stress testing results with clear and actionable recommendations for improving the financial resilience of the BOR institutions and system.