Communications update - budget
April 18, 2016
Dear faculty and staff:
As I shared in my previous update, the University is facing financial challenges as we wind up the fiscal year. I assured you that I would continue to update the campus community on our plans to address these issues in the weeks and months ahead.
I have had discussions with the administrative leadership team and participated in two budget retreats with the Board of Regents over the past two months. This budget review is important.
With support from the Board of Regents, I have asked the leadership team from all areas of the University to recommend actions that can be made to reduce expenses, especially as we prepare our budget for the upcoming fiscal year. This includes every division – including the President’s Office, Business and Finance, Academic and Student Affairs, Advancement, Athletics, Communications, Human Resources, and Operations and Facilities. All areas will likely be impacted.
We will not implement reductions ‘across the board’ by a set amount or percentage. It is my firm belief that effective reductions must be made strategically, must be in alignment with the University’s overall strategic priorities and in support of Eastern’s core mission.
I understand that this message and the process that follows will generate questions and concerns. However, we must take necessary steps in order to ensure our long-term success and stability. Although the challenges we face are real, together we will work to ensure a sound future for the University. As I indicated, I will provide further updates as the process unfolds.
Thank you for your collective efforts.