Strategic Financial Advisory Committee
University-Wide Strategic Financial Management Advisory Group
20 August 2008
Dear University Community,
I am pleased to announce the following members of our UB community have agreed to serve on the University-Wide Strategic Financial Management Advisory Group:
- H. Austin Booth
University Libraries - Carol Brewer
School of Nursing - John Canty
School of Medicine and Biomedical Sciences - Peter Grollitsch
Undergraduate Student Association - Robert Hoeing
Faculty Senate - Daniel Kehoe
Graduate Student Association - Janiece Kiedrowski
Professional Staff Senate - Cristanne Miller
Department of English, College of Arts and Sciences - Sharon Mitchell
Student Health and Wellness, Division of Student Affairs - Joe Raab
Environmental, Health and Safety - Debbie Schifferle
University Communications - John Thomas
School of Management - A. Scott Weber
Department of Civil Engineering
Yesterday, the University-Wide Strategic Financial Management Advisory Group (facilitated by Scott Nostaja, Interim Vice President Human Resources) held its inaugural meeting. At that time, I communicated to the group that the State of New York is projecting significant reductions in tax-based revenues over the next three years resulting from a downturn in the US and NYS economies. And, as a result, SUNY and UB could face an additional budget reduction beyond the previous three percent cuts enacted this spring. With this context established, I believe it is incumbent upon our university to explore, consider, prepare for, and adopt measures that will achieve projected reductions. In the spirit of UB2020’s principles of collaboration, inclusion and transparency, I have charged the Advisory Group to provide advice regarding how best to achieve financial targets while preserving the university’s mission, vision, and strategic objectives.
More specifically, I charged the Advisory Group with the following:
- Understand and assess cost reduction targets and their potential impact on campus mission, strategic plan, operations, and objectives.
- Identify and define university core principles (including cultural and organizational) that will guide university thinking and actions in a “business not as usual” operating environment.
- Develop cost reduction principles that will assist university leaders prioritize and assess alternatives.
- Generate and explore a wide range of options for achieving potential or real cost reductions.
- Assess and consider cost reduction and revenue generating strategies and initiatives within similar institutions (identify best practices).
- Explore investment strategies that will result in cost reductions.
I anticipate the Group’s advisory report will include relevant university principles as well as cost reduction principles and investment strategies, and a set of suggestions to assist me, the President, and our university’s senior leadership, with developing both short- and long-term cost reduction strategies and initiatives. I extend my thanks and appreciation to the members of the Advisory Group for their service to our university.
Sincerely,
Satish K. Tripathi
Provost and Executive Vice President for Academic Affairs
