In October, Joint Council
shared an update regarding the Fall Census, which indicated fewer graduate and transfer students enrolled for classes than we had projected, resulting in an unexpected operating deficit for the current fiscal year. In the subsequent weeks, our Strategic Resource Allocation Committee has worked diligently to identify cost-saving steps, while maintaining a focused commitment to our mission and our people.
I’m extremely grateful for the time and energy SRAC members devoted to this process, as they considered the best actions for our university.
I’m also very happy to share approved raises will take effect on Jan. 1. This year, DePaul will enable a total of 3 percent of the salary pool to be allocated as part of the merit review process.Considering the budgetary constraints, I commend SRAC for finding a way forward – despite the operating deficit – to deliver raises to our faculty and staff. I encourage you to applaud and thank the members of SRAC for simultaneously protecting our people and stabilizing DePaul’s financial health.
As part of SRAC’s deliberations and recommendation, we will enact the following cost-saving steps:- Implement a hiring slowdown for all non-essential positions
- Limit discretionary spending, such as travel and entertainment
- Consolidate certain non-academic departments to increase organizational efficiencies
- Delay or defer maintenance, repairs, and renovations to the university’s physical plant
Once all the above steps are fully in place, the Board of Trustees also has approved directing an additional $4 million of investment proceeds from the university endowment to eliminate any remaining deficit. Recognizing that these actions are a temporary budget repair, I have asked SRAC to develop a long-term comprehensive financial plan that places DePaul on a path for enduring and sustainable success.
Thank you for your continued dedication to DePaul and our students. If we work together, we will overcome these budget challenges once and for all, allowing our university to flourish, uphold our Catholic, Vincentian mission, and become the national model for higher education.