PULLMAN, Wash. – WSU President Kirk Schulz said Wednesday he expects to exceed first-year budget targets under the three-year effort to restore the university system’s fiscal health.
“This is a testament to our faculty who were already out-producing their peers with limited budgets and our staff who worked hard to reduce costs and increase revenue,” Schulz said in his annual question-and-answer session with journalists.
Schulz added that final budget numbers are still being tallied and specific figures should be available soon.
Under the plan, WSU is cutting its $30 million annual operating deficit by about $10 million per year, which amounts to about a 2.5 percent reduction for each department at all five of the university system’s campuses. The deficit is part of the university’s past investments in strategic growth opportunities such as the new medical school and updated athletic facilities.
Other topics covered at the session include:
- In terms of fundraising, total private fundraising activity in support of WSU topped $145.1 million during fiscal year 2018 — the third-best fundraising year in WSU history. The total is considered impressive given that the university is not currently engaged in a comprehensive fundraising campaign.
- The Cougar Athletic Fund set 2017-18 fiscal year records for both annual giving revenue at $7.76 million and overall giving at $15.49 million.
Schulz also highlighted several key projects:
- The in-progress Modernization Initiative that will replace and update WSU’s technology system for human resources, payroll and finances.
- Recognizing the continuing need to improve and enhance diversity and inclusion across the system.
- Meeting mental health needs for students, staff and faculty.
- Making sure grads are prepared for the world and workforce when they leave WSU.
