Dear campus community,
Earlier this week, I shared with you the axioms that will guide our budget decisions going forward. We will begin to apply these largely in Fiscal Year 2018 and beyond as we look at all aspects of our campus and how we can continue to deliver a high-quality education while ensuring our research remains strong in light of ongoing fiscal challenges.
In the meantime, however, we have an approximate $20 million budget shortfall we need to address based on state withholdings between now and this fiscal year that ends June 30. Given the relatively short timeframe, this funding will have to come from the university’s reserves that are decentralized across literally hundreds of accounts throughout the university.
To that end, we have developed guiding principles that will be used to determine the financial contributions for each college or division. As a reminder, these principles apply to FY17 only. Discussions on how to address FY18 and beyond are currently in progress.
I know what a challenging process this will be for all of us as we come together as a campus community to apply these guidelines and make difficult decisions. These calculations will represent real programs and projects, real initiatives, and in some cases, real people who are part of our university family. At the same time, it is important that you know we as a campus team are working diligently every day to identify areas where we can avoid duplication of services, enhance efficiencies and realize cost savings. It is important work that will take all of us, but the end result will be a more efficient—and effective—university that will continue to serve the needs of the state for decades to come.