In the coming weeks, our finance and budget offices
will be preparing an initial revenue projection for FY2021 that includes state appropriations, enrollment-based tuition and fee estimates, local and grant revenues. We will also generate an initial expense estimate based upon our current budgetary and expenditure levels. We expect these projections will present a growing structural deficit for ISU, driven primarily by reduced state appropriations and enrollment trends.
Our goal is to address our structural deficit over the next few years by focusing on student recruitment and retention, promoting identity and culture, and building relationships and infrastructure. We will continue to strategically utilize reserves as we simultaneously work to grow revenues, improve efficiencies, and reduce unnecessary expenditures.
We have been soliciting budget balancing ideas from the ISU community. In addition to receiving ideas for one-time savings in the current fiscal year, we have received more than 200 ideas for ongoing savings. Leadership Council will be developing a process for review, analysis and potential operalization of these ideas over the coming weeks and welcomes
In addition to the scheduled Drop-In Sessions and Campus Forums, we have created a
on the budget website where you can share ideas, questions, issues or concerns with our Budget, Planning & Analysis Office.
Glen R. Nelson
Vice President for Finance and Business Affairs