Dear Colleagues,
Today, the Universities of Wisconsin (UWs) released University Financial Assessments for seven universities. The assessments, conducted by Deloitte as part of the UWs strategic plan, contain key data to help campuses address their structural deficits, both by reducing expenses and generating revenue.
UWM’s assessment remains in progress, with the third-party consultant’s analysis expected later this year.
These assessments can help guide universities through making difficult decisions and recognizing opportunities to improve retention and leverage their core strengths. The ultimate goal is to ensure long-term sustainability while providing the education students deserve and families expect across Wisconsin.
The financial assessments of the seven other universities are serious, and we know that you may be concerned about the recommendations still to come for our university. In the last several years, we’ve been making tough decisions to eliminate our structural deficit and ensure we can continue to fulfill our mission. As we shared several times this academic year, UWM continues to identify efficiencies and budget reductions to eliminate our overall structural deficit by the end of fiscal year 2025.
The bottom line is this: UWM has solid plans for a strong future.
UWM is sharpening its focus on enrollment growth and retention. We have launched partnerships and programs that will help students succeed, from the Milwaukee Tuition Promise to the Milwaukee Direct Admit program for students in Milwaukee Public Schools.
Our work is not over, but we’re well on our way to a stronger and more resilient future for UWM.
We have shared UWM’s 2030 Action Plan with the third-party financial consultant and are not seeking to materially modify those directions and related institutional planning processes. The consultant is reviewing that plan and may affirm our directions and/or make additional, complementary suggestions for future actions that UWM can take to position itself for a sustainable future. Although we don’t yet know what the report will contain, we do know that UWM will make the final decisions on any actions.
For UWM and other UW universities to succeed, the state must invest further in our future. Our success will determine Wisconsin’s success.
Universities of Wisconsin President Jay Rothman often calls this the “Wisconsin war for talent,” and he’s right. We simply cannot succeed, nor can the state, without a strong network of universities educating and training the workforce of today and tomorrow.
Your dedication to our students and our mission does not go unnoticed. We are committed to bolstering UWM for future generations, and your hard work is instrumental in this endeavor.
Mark A. Mone, PhD
Chancellor