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Fiscal Health | Washington State University

News and updates

  • WSU athletics commits to balanced budget by 2023

    Washington State University announced today that its athletics budget will be balanced in 5 years. This plan will be presented to the WSU Board of Regents on Friday, June 8 by Athletic Director Pat Chun and Chief University Budget Officer Joan King.

    The effort relies on increasing revenue 27 percent by Fiscal Year 2023 while continuing to contain expenses. This approach will slow the rate of debt accumulation over the first 4 years, which is expected to reach a projected total of up to $85.1 million by FY 2022. Plans call for the program to achieve a balanced budget by FY 2023 with an anticipated $200,000 surplus.

    The athletics department is committed to first getting its budget balanced, then building up reserves and finally repaying central … » More …

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  • Status of the Strategic Research Investment Program and guidance for faculty hiring

    Created in coordination with the Office of Research, the Provost, and the Budget Office, the following memo outlines a modified faculty hiring plan for the Strategic Research Investment Plan. Though this plan will delay some of the planned FY 2019 and 2020 faculty hires, it will provide the research projects with a credible path forward.

    FROM: Daniel J. Bernardo, Provost and Executive Vice President
    Christopher J. Keane, Vice President for Research
    DATE: April 20, 2018
    SUBJECT: Status of the Strategic Research Investment Program and Guidance for Faculty Hiring in Years 3-5 (FY 2019-2021)

    As you know, the Strategic Research Investment Program (formerly known as … » More …

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  • WSU releases 2017 financial report

    Earlier this month, the Washington State University Board of Regents accepted the University’s financial report for the 2017 fiscal year. The 2017 financial report provides detailed information about WSU’s fiscal health and operations from July 1, 2016 through June 30, 2017.

    During FY 2017, cash and investments declined as expenses exceeded revenue. This has been the trend over the last three fiscal years.  This decline, in conjunction with the effect of a change in accounting methods associated with long-term benefit plans, has caused a significant reduction in unrestricted net assets.

    “The current rate of spending is not sustainable and further emphasizes the importance of the ongoing effort … » More …

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  • New advisory committee to play instrumental role in university-level budget matters

    By WSU President Kirk Schulz

    As we continue to chart a course toward restoration of the University’s long-term fiscal health, I want you to know how much I value the suggestions and concerns all of you have shared to date regarding the budget.

    Please know that your feedback is being heard and carefully considered by the entire University senior leadership team. The first priority in all of our conversations is to find ways to minimize the negative impact of our decisions on our students and employees while maintaining the momentum of several initiatives designed to advance our thriving statewide enterprise.

    To ensure a system-wide … » More …

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  • Comments to Fiscal Health website show passion for strong future

    Last month, the University launched the Fiscal Health website as part of President Kirk Schulz’s commitment to transparency as WSU addresses budgetary challenges.

    The site includes helpful information about how strategic investments over the past four years in the University’s growth have drawn down its financial reserves, outlines the three-year goal of rebuilding those reserves through careful spending reductions, and extends an invitation to the WSU community to share suggestions, ask questions and voice concerns.

    More than four dozen comments have already been received.

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  • Website will serve as news hub for fiscal health effort

    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 … » More …

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  • Working together to balance the budget

    Dear Faculty and Staff:

    As we move deeper into the semester, I hope that you are finding moments to savor the invigorating splendor of the fall colors and our frequent sun-splashed days during this season of transition. The Palouse and the Pullman campus currently offer a stunning kaleidoscope of color, and I know from my recent travels statewide that similar scenes greet our WSU family and friends at all of our campuses.

    A week ago, I sent an email describing a few of the actions we are taking to reduce university spending during the current fiscal year. Cutting the budget is not something we take lightly. … » More …

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  • Balancing the budget requires compromise, sacrifice

    Dear Faculty, Staff, and Students:

    As you know from my communications during the past year, the University has been spending more money than it has brought in over the past four years. This has required us to tap into our fiscal reserves in order to pay our bills. We cannot continue to do this. Quite simply, annual expenses must be balanced against annual revenues.

    For our current fiscal year, each unit at WSU has been instructed to reduce its spending by 2.5 percent. Specific dollar amounts have been communicated to all areas. Our goal is to reduce our $30 million annual deficit spending by $10 million in FY2018 … » More …

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  • A plan for long-term financial sustainability

    Dear Faculty and Staff:

    July has come and (almost) gone, which means that the fall semester is nearly upon us! I hope that your summer has been productive and that you are ready to have a great year as we prepare to kick off the new academic cycle.

    One of the items on my annual summer to-do list is to try to learn something new. This summer, I decided to learn to fly-fish. I spent two days on the Snake River in Idaho fly-fishing—and I actually caught several fish.

    Am I a great fly-fisherman? No. Did I cast into bushes, lose flies, and drop slippery … » More …

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  • Budgeting to invest in transformational ideas

    Greetings again from French Administration. As unbelievable as it may seem, the semester is rapidly drawing to a close and commencement is barely a month away. I hope that each of you had the opportunity to recharge for a few days during spring break in preparation for the busiest 6 weeks of the academic year!

    I want to publicly welcome 3 individuals who recently joined our senior leadership team in Pullman following the completion of nationwide searches: Mary Jo Gonzales, vice president for student affairs; Stacy Pearson, vice president for finance and administration; and Phil Weiler, vice president for marketing and communications. These talented colleagues … » More …

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  • Creating a budget to propel our success

    Greetings from French Administration! I hope you had a restful time away from the University with family and friends during the Thanksgiving holiday. Noel and I enjoyed spending a few days with our two sons and daughter-in-law in both New Mexico and the Palouse. We experienced a first this year—our children prepared a traditional Thanksgiving meal for us. All we had to do was show up and eat!

    In my May letter to campus, I noted several key financial issues that needed immediate attention:

    Reinstitution of a formal university budget development process
    Creation of a comprehensive funding plan for each new building in advance of its … » More …

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  • A few thoughts about recent discussions

    Summer is finally upon us! I trust everyone had a successful end to the spring semester, and that your summer personal and professional activities are well under way. My normal “to-do” list for this summer is pretty extensive—but mostly it revolves around successfully moving our household from Manhattan to Pullman!

    The past month has been a busy one, and I have a few updates that I want to share with the Washington State University community. I want to focus on four major areas in this letter: WSU budget, expansion of the Pullman/Moscow Airport, the Elson S. Floyd College of Medicine, and the spring WSU Foundation … » More …

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