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UB 2020University at Buffalo’s strategic plan

Strategic Financial Advisory Committee

Cost-Reduction Opportunities

The Strategic Financial Advisory Committee explored cost-reduction opportunities that could be enacted immediately and in the long term. The recommendations below were created to 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. These recommendations continue to be implemented across our three campuses.

Immediate Cost Reduction Opportunities

  • Develop a comprehensive energy conservation plan that supports environmental stewardship and cost reduction
  • Identify and assess the costs and value of current consulting arrangements
  • Review the use and size of subsidies provided to organizations that generate independent revenues and/or those that have the potential of being self-sustaining
  • Assess the subsidies provided to various research centers
  • Explore opportunities to consolidate service providers (vendors) to reduce costs
  • Assess the impact of reducing service levels (e.g., hours of operation, etc.) in some units to reduce costs

Long Term Cost Reduction Opportunities

  • Significant time and focus should be given to assessing current strategic initiatives associated with UB 2020. 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.

 

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