Fellow Bears,
In town halls next week, Vice President for Finance and Administration Dale Pratt and I will discuss the University of Northern Colorado’s current financial health and budget outlook. The discussions will provide an opportunity to hear updates, learn about planning underway for this fiscal year and the next, and ask any questions you may have. I hope you will join us.
University Budget Town Hall (in-person)
Monday, February 12, 2:00 p.m. to 3:30 p.m.
Campus Commons Multipurpose Room
Please register here
University Budget Town Hall (virtual)
Tuesday, February 13, 9:00 a.m. to 10:30 a.m.
Zoom
Please register to receive the Zoom link here
The same content will be covered in both sessions. A recording of the virtual session will be posted following the event.
As I have done since joining UNC, I remain committed to prioritizing university-wide budget conversations and engaging in decision-making through shared governance to help ensure the continued financial health of the university. Thanks to the work we have done together over the past six years, including the prudent decisions we made to eliminate the university’s structural deficit and our resiliency through financial downturns, UNC remains in a solid position.
Our stability has made it possible to preserve core functions and invest in strategic priorities, including competitive compensation adjustments for faculty and staff. Yet we must preserve our ability to effectively navigate the headwinds we face, including uncertainty about next year’s level of state appropriations, continued upward pressures on expenses such as inflation and mandated cost increases, and national trends that have impacted college-going rates. These forces present potential challenges as we work to address a projected budget shortfall in this fiscal year and enter the next with a balanced budget.
We are well equipped to maneuver successfully through obstacles. To maintain our ability to realize our vision for the future, we must continue to make thoughtful decisions and remain judicious in our use of finite resources. Actions we are each taking now to manage spending, such as prioritizing essential expenditures and adding a careful review before personnel positions are filled, preserve our stability. We also continue to pursue strategies for revenue growth that include setting and achieving enrollment goals that will lead to future overall growth, advocating with our fellow institutions of higher education for adequate levels of state support, and seeking new revenue streams, such as by establishing a college of osteopathic medicine. Additionally, I have recently convened a Budget Advisory Committee to support our budget planning process and efforts to optimize budget outcomes.
Ultimately, the most important work we have done together is identifying our shared strategic priorities and relying on them to inform our decision-making at every level. By continuing to be guided by our Rowing, Not Drifting 2030plan and our vision for UNC’s future, I am confident that we will remain positioned for success. Thanks to each of you for your continued commitment to our university and the communities we serve. I look forward to seeing you at an upcoming town hall.
Rowing, Not Drifting,
Andy Feinstein
President
