As we begin developing the budget for fiscal year 2020, our commitment to advancing student success aligned with regional needs will be the focus of that process. While we navigate the unanticipated decline in net tuition revenue for the fall semester and the uncertainty of the pension situation, we must keep our focus on student retention, new recruitment efforts and targeted marketing. Earlier this fall, I authorized a one-time $1.2 million investment to support those efforts. Regarding the pension issue, we are drafting a set of recommendations that provide relevant and effective strategic solutions essential to higher education’s financial stewardship and our ability to recruit, retain and reward a highly talented staff.
Throughout the budget process, we will solicit ideas and suggestions to keep the campus community engaged and informed. We will consult with Staff Congress, Faculty Senate, Student Government Association, Council of Chairs, Academic Affairs Council and the relevant budget committees. Input from students will be sought about parking, housing, technology, dining and tuition costs. All suggestions and ideas will be considered as we develop a budget recommendation for action by the Board of Regents in March 2019.
The following principles will guide the development of the budget:
Thank you all for all the hard work and dedication that goes into the creation of our annual budget. I look forward to working together on this endeavor.