In January, we shared a university-wide process for re-imagining operations. The goal was to reduce spending, while also positioning us to deliver on our mission.
Nearly 100 employees from across the University served on Budget Response Teams that recommended reductions in eight service areas: finance, human resources, IT, facilities and energy, printing, communication, procurement, and travel. Based on conversations with team members, we project up to $30 million in savings over the next several years - savings that will help us meet a $49 million budget shortfall.
Each area is represented by a task force of subject-matter experts who delivered cost-cutting recommendations to a university-wide Steering Committee this spring. The Steering Committee, in turn, brought their recommendations to President Bounds and the chancellors for considerations.