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Dear Colleagues,

As we head into the final stretch of both our academic and fiscal year, we want to take a moment to update you on our current financial picture and our path forward as we address ongoing challenges. Many of you participated in our Spring 2023 Community Forums, where we shared that we are projecting a potential operating budget loss in the range of $9 鈥� $15 million for the 2023 fiscal year, which ends on June 30. This budget gap is primarily the result of falling short of our enrollment targets for returning undergraduate students and our new and continuing graduate students for both the traditional residential and online programs. The shortfall in our undergraduate enrollment also has resulted in a decline in housing and dining revenues. While the projected revenue shortfalls represent less than two percent of our $850 million operating budget, we will be required to manage our expenses judiciously for the remaining months of the fiscal year.

In sharing this information with you, we want to be very clear that while our current financial position is manageable, it requires action from all members of our community to resolve. In the weeks and months ahead, we strongly encourage everyone to play their part in the stewardship of the university鈥檚 finances. 聽We should all exercise good judgment by spending thoughtfully to help close the projected budget shortfall and ensure that we conclude the fiscal year with a balanced budget. 聽

To provide guidance on our year-end spending, all units are being asked to exercise a standard of reasonableness, and follow the general guidelines listed below:

Considerations for spending

• Ensure that there is a necessity and a detailed business reason for the purchase of any and all supplies, equipment, and accessories.聽

• Ensure that purchases directly support program delivery and operations. Consider critical need 鈥� as opposed to 鈥渘ice to have鈥� 鈥� to justify a purchase of capital equipment, furniture, or software.
• Review the 麻豆视频作品Strategic Vendors List before purchasing items (i.e. office supplies and equipment, computer peripherals, audio-visual equipment, etc.) to ensure the best value. The list is located at /finance/procurement-contracts/strategic-and-preferred-vendor-list.cfm.

Core uninterrupted and essential spending聽

• Full-time faculty and adjunct faculty salaries for the first session of the 2023 summer semester courses that meet minimum course enrollments.
• Full-time staff salaries and benefits for active positions.
• Full-time staff vacant positions that are critical, and for which there is an active search currently.
• Part-time, student wages, and federal work-study wages that are committed for the remainder of the fiscal year.
• Research expenses to fulfill research grants.
• Marketing and recruiting expenses to meet fall 2023 enrollment targets.
• Contractual expenses already obligated or renewals in queue.
• Other expenses deemed appropriate by divisional leaders or deans.

Types of spending to avoid during the final months of the fiscal year (April 1 鈥� June 30):

• University funds should not be used for the purchase of:
  • Non-essential domestic and international travel.
  • Personal gifts from individual schools, colleges, or units, including celebratory, departing, or get-well gifts; or events (birthday, wedding, baby shower, etc.).
  • Food or alcohol (including gift cards, Uber Eats, etc.) for non-essential staff and faculty gatherings.
• Excessive purchase orders of supplies as the end of the fiscal year approaches.
• Budget rollover requests from the current fiscal year to the next fiscal year.
• Transfers to restricted or internally designated funds without University Budget Office approval.

If you have any questions about specific situations, please consult with your provost/vice presidents or unit budget leaders. The University Budget Office (UBO) and Controller鈥檚 Office are also available to answer your questions.聽

We thank you in advance for working together as a community to ensure the financial health of the university.聽

Sincerely,

Bront茅 Burleigh-Jones聽
Chief Financial Officer, Vice President, and Treasurer

Peter Starr
Provost and Chief Academic Officer