{"id":330,"date":"2024-04-11T11:33:00","date_gmt":"2024-04-11T16:33:00","guid":{"rendered":"https:\/\/uwm.edu\/chancellor\/?p=330"},"modified":"2024-04-18T10:13:41","modified_gmt":"2024-04-18T15:13:41","slug":"university-financial-assessments","status":"publish","type":"post","link":"https:\/\/uwm.edu\/chancellor\/university-financial-assessments\/","title":{"rendered":"University Financial Assessments"},"content":{"rendered":"\n<p>Dear Colleagues,<\/p>\n\n\n\n<p>Today, the Universities of Wisconsin (UWs) released University Financial Assessments for seven universities. The assessments, conducted by Deloitte as part of the <a href=\"https:\/\/www.wisconsin.edu\/president\/strategic-plan\/\" rel=\"noreferrer noopener\" target=\"_blank\">UWs strategic plan<\/a>, contain key data to help campuses address their structural deficits, both by reducing expenses and generating revenue.<\/p>\n\n\n\n<p>51ÁÔÆæ\u2019s assessment remains in progress, with the third-party consultant\u2019s analysis expected later this year.<\/p>\n\n\n\n<p>These assessments can help guide universities through making difficult decisions and recognizing opportunities to improve retention and leverage their core strengths. The ultimate goal is to ensure long-term sustainability while providing the education students deserve and families expect across Wisconsin.<\/p>\n\n\n\n<p>The financial assessments of the seven other universities are serious, and we know that you may be concerned about the recommendations still to come for our university. In the last several years, we\u2019ve been making tough decisions to eliminate our structural deficit and ensure we can continue to fulfill our mission. As we shared several times this academic year, 51ÁÔÆæ continues to identify efficiencies and budget reductions to eliminate our overall structural deficit by the end of fiscal year 2025.<\/p>\n\n\n\n<p><strong>The bottom line is this: 51ÁÔÆæ has solid plans for a strong future.<\/strong><\/p>\n\n\n\n<p>51ÁÔÆæ is sharpening its focus on enrollment growth and retention. We have launched partnerships and programs that will help students succeed, from the Milwaukee Tuition Promise to the Milwaukee Direct Admit program for students in Milwaukee Public Schools.<\/p>\n\n\n\n<p>Our work is not over, but we\u2019re well on our way to a stronger and more resilient future for 51ÁÔÆæ.<\/p>\n\n\n\n<p>We have shared 51ÁÔÆæ\u2019s <a href=\"https:\/\/uwm.edu\/2030-action-plan\/\" rel=\"noreferrer noopener\" target=\"_blank\">2030 Action Plan<\/a> with the third-party financial consultant and are not seeking to materially modify those directions and related institutional planning processes. The consultant is reviewing that plan and may affirm our directions and\/or make additional, complementary suggestions for future actions that 51ÁÔÆæ can take to position itself for a sustainable future. Although we don\u2019t yet know what the report will contain, we do know that 51ÁÔÆæ will make the final decisions on any actions.<\/p>\n\n\n\n<p>For 51ÁÔÆæ and other UW universities to succeed, the state must invest further in our future. Our success will determine Wisconsin\u2019s success.<\/p>\n\n\n\n<p>Universities of Wisconsin President Jay Rothman often calls this the \u201cWisconsin war for talent,\u201d and he\u2019s right. We simply cannot succeed, nor can the state, without a strong network of universities educating and training the workforce of today and tomorrow.<\/p>\n\n\n\n<p>Your dedication to our students and our mission does not go unnoticed. We are committed to bolstering 51ÁÔÆæ for future generations, and your hard work is instrumental in this endeavor.<\/p>\n\n\n\n<p>Mark A. Mone, PhD<br>Chancellor<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Colleagues, Today, the Universities of Wisconsin (UWs) released University Financial Assessments for seven universities. The assessments, conducted by Deloitte as part of the UWs strategic plan, contain key data to help campuses address their structural deficits, both by reducing &hellip;<\/p>\n","protected":false},"author":1110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","uwm_wg_additional_authors":[]},"categories":[15,11],"tags":[],"class_list":["post-330","post","type-post","status-publish","format-standard","hentry","category-communications","category-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Office of the Chancellor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uwm.edu\/chancellor\/university-financial-assessments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"University Financial Assessments\" \/>\n<meta property=\"og:description\" content=\"Dear Colleagues, Today, the Universities of Wisconsin (UWs) released University Financial Assessments for seven universities. 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