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Progress Reports – Higher Education Services Corporation

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  1. Spending Reduction Target
    • HESC’s current-year savings target is $7.9 million, reflecting the Governor’s order for a 10.35 percent reduction in projected agency spending.
    • HESC is currently expected to achieve its entire $7.9 million spending reduction target.
  2. Major Savings Initiatives
    • HESC is already in the process of implementing the following actions to achieve their savings target:
    • Reduce PS spending through attrition and curtailing new hires
    • Reduce spending on IT hardware/software initiatives
    • Reduce reliance on consultants
    • Minimize office space reconfigurations
    • Restrict travel
    • Reduce spending on OFT-provided data/technology services
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