Faculty, Staff, and Students:
A new university website—wsu.edu/fiscal-health—has been created to keep our community informed and involved in the system-wide initiative to restore WSU’s fiscal health.
The website, which reflects President Schulz’s commitment to transparency, will provide regular updates about progress in the effort to reduce university expenditures and increase revenues. As a reminder, all areas of WSU are reducing expenditures by 2.5% this year, the first in a multiyear effort to balance expenditures and revenues.
The website includes a summary of WSU’s current budget challenge as well as the communications chancellors, vice presidents, and deans sent in October and November outlining their approach to reduce spending in their respective units.
Faculty, staff, and students are encouraged to use the online form on the new site to share suggestions, ask questions, and voice concerns about the fiscal situation.
It is helpful to keep a few points in mind moving forward:
- While the University’s fiscal challenges are serious, they are not insurmountable. By carefully managing revenues and expenditures during the next few years, WSU’s fiscal health should be restored.
- The money each unit saves by reducing expenditures will remain within the unit. Once annual institutional revenues and expenditures are balanced, units may invest their accumulated savings in new priorities and initiatives that will advance WSU’s teaching, research, and service mission.
- The University also will continue to identify new revenue-generating opportunities such as the partnership with INTO to increase the enrollment of international students and the addition of new online degree programs.
Regular updates about progress in the fiscal health initiative will be published on the new website and in WSU Insider, the online source for system-wide news and updates.