SIUE Financial Landscape
Posted April 27, 2020
April 27, 2020
Friends,
Let me start by again thanking everyone – our faculty, our staff, our students – for your flexibility and your commitment to achieving a meaningful educational experience in the midst of these extraordinary circumstances. SIUE continues to distinguish itself in spite of current hardships.
With so much information coming out nationally and regionally about higher education’s financial challenges, I want to provide an update.
Let’s start with some good news. Historically, SIUE budget managers have diligently worked to manage our budget well, particularly in challenging times. I want to thank our vice chancellors, deans, directors, and those involved with SIUE’s financial sector for careful and prudent choices over the years. I also want to thank every faculty and staff member who has continued to persevere with the resources that are sometimes not at the level we would like.
At this point in the fiscal year, we always project revenues and anticipated expenses across the spring and summer months in anticipation of August when tuition revenues rise. Current projections show sufficient revenues to cover our expenses, though fiscal prudence is once again the order of the day until more information about the 2020-21 budget becomes available in the weeks and months ahead.
In recent days as the magnitude of the COVID-19 pandemic became more apparent, we received good news that the federal government was providing financial resources to support universities and their students through the CARES Act. For SIUE, this means nearly $10 million in support to directly help our students and fill in some of the financial gaps created by unforeseen educational expenses. We have also been fortunate to receive support from SIUE donors who are contributing to the Student Emergency Assistance Fund. For details, visit siue.edu/student-affairs/student-conduct/student-emergency-assistance-fund. Be assured that we are pursuing all avenues of support at this time.
You may remember that by February 1, 2020, we had already achieved a record number of applications and admits for potential new students in fall 2020. While the current situation has slowed registrations for fall, it is good to know that a record number of students are interested in SIUE, including students who may be thinking about attending higher education institutions locally (partially because of the pandemic) rather than going out of state.
We have an amazing institution with quality faculty and staff, a supportive community, and an attractive physical plant. I have often said that enrollment is everyone’s business and certainly that is crucial now. To the extent that we can attract and retain students, we will not only fulfill our educational mission and create opportunities for our students and community, but also solidify our financial stability.
What lies ahead? As you saw in President Mahony’s letter on Friday, campus and system planning groups will be developing scenarios and options for fall 2020 so that we are prepared for all contingencies. I want to thank Dr. Mahony, additional leaders at the System level, the SIUE pandemic planning group which meets daily, the pandemic committee which meets weekly, and so many others who help shape responses to new challenges rising daily from the pandemic. As Dr. Mahony mentioned, it appears strategic to be conservative in our spending and budget planning.
These are extraordinary times. But, the news in the past few days feels as if we are starting to turn a corner, so take heart. We will come through this and remain the dynamic institution we are – one formed and strengthened by past as well as current challenges.
Thank you again for all you do for SIUE. Thank you for helping our students and our colleagues succeed. If you have thoughts or questions, please contact me directly and/or participate in the upcoming Q&A sessions.
Stay healthy. Stay safe.
Randall G. Pembrook, Chancellor
Southern Illinois University Edwardsville
Campus Box 1151
Edwardsville, IL 62026
618-650-2477