Office of the Chancellor

Enrollment and Budget Update

Enrollment and Budget Update

Dear Campus Community,
 
Final enrollment numbers were generated as of the end of the day last Friday and analyses by school, college and department are in process. I write to share initial implications and next steps regarding our financial position.
 
Overall, we are down approximately 4% in credit hours which results in an approximate $4 million shortfall in revenue. As you will recall, our budget reduction of last year and resulting budget for 2013-14 were predicated on flat enrollment. While we have significant increases in dual credit enrollment and some increase in new freshmen, these increases do not make up for the decreases in returning undergraduate and graduate students. The enrollment patterns of individual colleges, schools, and departments are currently being analyzed by deans and chairs; some departments have remained stable or increased, others have lost enrollments.
 
A number of strategies will be utilized to address the revenue shortfall, including applying a significant portion of the one-time $2 million 2013 Legislative allocation, implementing strategies to increase retention, increasing revenue from other sources and re-allocation of existing resources. The discussions regarding these strategies will be inclusive and transparent. At this point in time there are no plans or discussions of work force reductions.
 
The budget process this year will proceed as a parallel process to strategic planning. By late fall I anticipate that clear strategic plan directions will have emerged and that budget development will follow the priorities identified in the plan. Obviously, the money follows the plan.
 
While there are certainly challenges ahead, I am very excited about a number of new initiatives underway which address our retention rates, student success factors, recruitment, and needs for new academic programming. Working together, IPFW will unquestionably meet these challenges and be even stronger as a result.
 
Regular updates will be communicated as budget and strategic planning work proceed. Please feel free to be in contact with your deans, unit heads, and/or senior administration should you desire additional information.
 
Sincerely,
Vicky