Financial Stability Plan

Overview of our Financial Stability Plan

• History of the Plan

  In our history as a community, we have faced periods of significant challenge. In 1929, the Plattsburgh Normal School for Teaching main building burned to the ground. Surveying the damage caused by such a devastating loss could have caused them to lose hope and abandon the institution as a lost cause. But, we stand here today as a proud comprehensive college within the SUNY System because they did not shy away from the challenge.

• Our Course of Action

  One of these times is now. Over the past few years, this campus, like many other SUNY institutions, has seen its enrollment decline. At the same time, state support for higher education continues to decline. We are facing a significant budget shortfall that requires action now if we want to ensure that those who follow in our shoes can continue the good work that we do.

  In response to this challenge, the college has developed a budget plan that will help us to achieve our goals of financial stability by Fiscal Year 2021-22. To achieve this plan, we will need to tap into the collective experience and intelligence of all members of our incredible community. As a community, we will need to engage in hard conversations and make tough decisions to achieve our financial goals.

  For over 125 years, SUNY Plattsburgh has been providing a transformative education to our students. Our 60,000 alumni can attest to the difference that this institution made in their lives. Like those who came before us, we can rise to the challenge and in doing so sow the seeds for our future success.

  Updates

• Staying True to our Mission

  Reductions should have minimal impact on student success including recruitment/access, retention, persistence, transfer ease and timely completion of degree.

  SUNY Plattsburgh will continue to place the quality of academic programs as the highest priority.

• Essential to our Core

  The safety and health of students, faculty, staff or visitors and compliance with applicable laws will not be compromised.

  The ability to perform essential operation or maintenance of the physical plant will be maintained.

• Cost Savings & Revenue Enhancement

  Vertical, not horizontal — reductions will not be across-the- board, but based on a number of factors including community access, impact on student progression, cost/benefit ratio, student demand and program effectiveness.

  Protect as many jobs as possible.

  Explore entrepreneurial opportunities; increase private and grant support.

  Emphasize cost savings by developing efficiencies or use of technologies to simplify, integrate and streamline our processes.

• Process

  Budget decisions will be conducted in a deliberate, participatory and transparent manner.

  Budget decisions will address the immediate, short-term budget issues while ensuring the college emerges in the strongest possible position in the long term.

  Consult widely with key constituents.

  SUNY Plattsburgh will provide on-going communication with the campus and constituencies.

  Final budget authority lies with the president, while recognizing the valuable counsel of the campus VP’s, deans and directors and respecting our strong campus tradition of shared governance.