Dear USF Community,
I am pleased to update you on the current budget process and our next steps.
Tomorrow, Feb. 27, deans and division vice presidents will submit their proposals for consolidations, reallocations, and reductions for fiscal year 2027. Their decisions have been informed by ideas from more than 250 of you who responded to the budget survey and more than 100 who participated in budget listening sessions and additional conversations to share suggestions for reducing costs and improving operational effectiveness and efficiency. I appreciate your commitment to contributing to the development of our three-year financial plan.
Some of the cost-saving strategies under consideration include a pledge by cabinet members not to take salary increases, reevaluation of university properties for sale and rental, and reconsideration of some vendor contracts. We are also looking at layoffs, program cuts, and early retirement packages.
As we have outlined, our goal is to identify approximately $25 million of the total $50 million to $60 million in base budget adjustments planned across fiscal years 2027 and 2028.
We now have the census data on returning students, in addition to the enrollment and retention projections for FY 2027, which helps us see this year’s enrollment picture moving forward. Every item in the university budget is being reviewed, and I expect further changes to the budget proposals through March 27, when the Board of Trustees will review and vote on the FY 2027 budget. Once the budget is approved, we will share the three-year financial plan along with more details regarding the implementation timeline.
As we continue to rebuild the university’s budget, we do so united by our shared commitment to USF’s Jesuit Catholic values, our mission, and our strategic plan. Transparency, collaboration, and shared responsibility will guide every step of this process as we build a sustainable and mission-centered financial future for USF.
Kindly,
Salvador D. Aceves ’83, EdD ’95
President