Strategic Priority: Financial Sustainability

Achieve long-term financial stability and sustainability.

Strategic Priorities graphic for financial stability

Lead

Jennifer Sobanet, MBA, CFO and Vice Chancellor for Administration and Finance and Todd Haggerty, Associate Vice Chancellor for Budget

Goals

  • Grow “other revenue” (non-state and non-resident UG tuition revenue) from $176.03M in 2017 to $216.4M in 2023
  • Increase online enrollment (unduplicated headcount) from 8,772 in 2017 to 17,636 in 2023
  • Increase gift revenue from $19.5M in FY2016-17 to $25M in 2022-23

Action steps

  • Implement an incentive-based budget model to align investments and resources with our strategic priorities by incentivizing the types of activities that drive both student and financial success
  • Participate in Essential CU Campaign with a focus on scholarship funds, endowed chairs, and enhanced facilities
  • Actualize the Facilities Master Plan 

Accomplishments

2018-2019

  • Created a planning and budgeting forum for schools, colleges, and central support units to discuss strategies and work together to achieve our priorities in the new incentive-based budget model
  • Increased transparency through the new budget model so that everyone understands how the budget works and their role in ensuring financial sustainability
  • Raised $20.8M (FY 2017-2018) in private gifts, including a highly successful scholarship campaign where faculty and staff contributed over $1M for scholarships
  • Hosted our first CU in the City celebration to honor our benefactors
  • Prioritized Facilities Master Plan projects and began the following projects:
    • Business School infill
    • Large connect renovation
    • First-year student housing and dining
    • Conceptual plan for engineering building