Page 4 of 22 (1) Enrollment trends. (2) Projections of revenues and expenditures for the current year and the next five (5) years, both assuming the continuation of present operations and as impacted by any recommendation for the board to exercise the board's powers under subsection (a.1). (3) Assets, liabilities and institutional reserves. (4) Actions undertaken to improve the financial stability of the institution and the financial impact of those actions. (5) Additional actions that could be taken to improve the financial stability of the institution, the projected financial impact of those actions and whether those actions would alleviate the need for the board to exercise the board's powers under subsection (a.1). (6) The financial impact on the institution and the system if no action is taken by the board to exercise the board's powers under subsection (a.1). (7) The financial impact on the surrounding community of the institution if action is taken by the board to exercise the board's powers under subsection (a.1). (8) Impacts on affiliated entities and any donor restrictions on the use of non-State-appropriated funds. (a.3) Upon the board's receipt of the report and recommendation, the chancellor shall develop a proposed implementation plan. The proposed implementation plan shall include the following information: (1) Description of the proposal to exercise powers under subsection (a.1). (2) Rationale, goals and objectives of the proposal to exercise powers under subsection (a.1). (3) Method for evaluating achievement of goals and objectives. (4) Relation of the proposal to the mission and strategic plan of the institution and system as a whole. (5) Impacts on academic programs, nonacademic units and accreditation. (6) Impacts on students, faculty and staff. (7) Impacts on the community. (8) Impacts on shared governance. (9) Before and after organizational charts for all impacted institutions. (10) Information included in the chancellor's report and recommendation under subsection (a.2). (11) Timeline for the implementation plan. (a.4) The proposed implementation plan shall be approved by a majority vote of the board. If the board rejects the proposed implementation plan, the chancellor may amend the proposal and present it to the board for
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