Monday, September 24, 2018

Finance and Budget initiative to advance vision for UTSA announced

Finance and Budget initiative to advance vision for UTSA announced

(Oct. 23, 2017) -- UTSA President Taylor Eighmy today announced a third initiative to make UTSA San Antonio's university of the future. The President’s Initiative on Finance and Budget Modeling will create a strong foundation for UTSA’s fiscal health and lays the groundwork for the growth and innovation to come.

"Research intensive institutions have extraordinarily complex budgets that are influenced by a multitude of internal and external factors," said Eighmy. "Though some of these factors are outside of an institution's control, such as state appropriations, ensuring UTSA's financial trajectory positions us to best invest in our future."

Similar to the Student Success and Strategic Enrollment initiatives launched last week, Eighmy expressed an urgent need for this initiative, in an email sent today to UTSA faculty and staff.

"Sound financial practices are paramount to achieving institutional goals," he said.

The Finance and Budget Modeling Task Force will develop strategies to optimize UTSA's resources and identify opportunities to improve financial performance. Through a careful examination and adoption of best practices, the task force will explore possible new budget models, identifying those that will work best for UTSA and align to its mission, vision and institutional themes.

Eighmy encouraged the task force to prioritize budget models that are transparent and data-driven, and emphasize incentivizing strategic practices for revenue growth.

UTSA Vice President for Business Affairs Kathy Funk-Baxter will lead the Finance and Budget Modeling Initiative. She has 25 years of experience in financial management as well as proven leadership at UTSA and in multiple professional organizations.

The task force will begin with a deep dive into UTSA's current financial position and areas for greatest opportunity. To assist in the effort, UTSA has hired Huron, a leading higher education consulting firm that has partnered with the institution on a variety of projects.

"The time and energy that will go into this initiative is a direct investment in UTSA’s future and our march toward excellence," said Eighmy. "As we embark on this new chapter of thinking bigger, I am grateful to our students, faculty, staff and supporters for collectively owning UTSA’s success."

Learn more about the President's Initative on Finance & Budget Modeling.

Learn more about the President’s Initiative on Student Success.

Learn more about the President’s Initiative on Strategic Enrollment.

Read the October 3 email President Eighmy sent to the UTSA community about his vision for the future.

Connect with UTSA online at Facebook, Twitter, YouTube, Instagram and LinkedIn.

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