In a memo to the university community Monday, President Roderick J. McDavis detailed the budgetary challenges the university faces in the upcoming fiscal year and laid out a timeline for the institution's strategic budget process.
In the current fiscal year, McDavis explained that the university will see an estimated $3.14 million bump in its revenues from the upcoming tuition increase. The university's actual State Share of Instruction (SSI) is $2.2 million short from initial state projections for this academic year. After making up the $2.2 million shortfall with the additional funds received from the expected bump, the university is left with $940,000, of which $700,000 are designated for the Ohio College Opportunity Grant (OCOG) program and $200,000 are being put toward miscellaneous funding requests.
The university will also receive $10 million less in state support for the 2010-11 academic year than it received this year. In the memo, McDavis lays out a three-phase process to address that shortfall by working with constituent groups to determine ways to achieve cost savings and revenue enhancements while keeping in mind university priorities.
"The goals for our strategic budget process are to determine what we stop doing that is not essential to our core academic mission and to sharpen our strategic focus," he said. "This process will focus on short- and long-term strategies for a cost savings plan and revenue enhancement, including strategic enrollment growth."
McDavis expects to present a final set of recommendations to members of the Ohio University Board of Trustees at their April 2010 meeting.