Strategic Financial Advisory Committee
Long term cost reduction opportunities
The recommendations below should adhere to the guiding principles for cost reduction: to preserve the quality of education at the university; to maintain the vision for UB as a top tier research university; and to maintain the momentum gained by UB’s current strategic initiatives.
- Given the magnitude of the current situation significant time and focus should be given to assessing current strategic initiatives associated with UB2020. This assessment might include consideration of anything from the timing of the master planning process to that of specific technology investments.
- Explore and pursue opportunities to restructure academic programs, departments, units, and / or schools to achieve efficiencies and cost savings.
- Consider mergers, consolidations, clusters and other opportunities to share resources
- Explore opportunities to consolidate various campus services and functions.
- Pursue opportunities to invest in technology to gain efficiencies and lower costs
- Develop creative approaches that provide incentives for employee retirement, and enable opportunities to restructure current work arrangements.
- Reduced work weeks, job- sharing, alternative work arrangements, academic year appointments, etc.
