The WSU Board of Regents is backing the plan to rebuild the University’s financial reserves through careful spending reductions over the next three years, saying they had directed President Kirk Schulz and senior leadership to make restoring fiscal health a top priority.
“As Regents, we supported the efforts to advance WSU’s mission the past four years by investing reserve funds in strategic initiatives such as the SPARK building, the Elson S. Floyd College of Medicine, WSU Everett, new athletic facilities, and the new art museum,” the Regents said in a statement drafted during its January retreat. “But we also fully understood that rebuilding the university’s financial reserves would be critical to WSU’s long-term fiscal health going forward. Thus we requested President Schulz and senior leadership to create and execute a plan to achieve that objective in a manner that would minimize the impact on the university and its faculty, staff, and students.”
The comments came following the Regents’ mid-year evaluation of Schulz, who took over leadership of the University in June 2016. The Board praised Schulz’s performance and noted that a daunting list of challenges was awaiting his arrival 18 months ago.
“That list included expectations that ranged from accelerating WSU’s trajectory to national prominence and advancing the university as an engine of the state’s economy to ensuring access to higher education, supporting the growth and success of students, and strengthening WSU’s financial position,” the Regents said. “In all regards, President Schulz has met—and exceeded—the expectations we identified a year and a half ago. His achievements the past six months have been particularly noteworthy. He has led the university to record enrollment, greatly diversified the senior leadership team, and stepped up WSU’s efforts to better serve the state’s needs.”
The Regents met Jan. 25-26 in Seattle.
The full statement from the Board of Regents can be found on WSU News. The plan for rebuilding the University’s financial reserves is outlined on the WSU Fiscal Health website.
