Dear Buffalo State University Community,
During my Framework for Financial Sustainability address to campus in May, I said I would provide an update on the first year of our plan to reduce the structural deficit after the fiscal year concluded June 30. I am writing to provide that update.
Our deficit for 2023-2024 ended at $12.6 million, which was down from the $16.5 million structural deficit we had at the start of 2023-2024.
Included among the effective tactics to begin reducing the structural deficit were:
- The first year-over-year increase in both incoming freshmen and transfer students since 2017.
- A significant increase in residence hall occupancy.
- Savings from the hiring freeze initiated in November 2023.
- Managing contractual services across the university.
It is important to keep the base structural deficit of $16.5 million in mind as we continue to face increased labor rates; we also cannot rely on potential one-time savings that occurred in 2023-2024.
Thank you to SUNY leaders, elected officials and our Buffalo State faculty and staff—including the shared governance structure of our University Council, College Senate and administration—plus our Foundation Board, Professional Staff Caucus and collective bargaining partners for the work that has been done to set us on this path to create a more sustainable Buffalo State University while maintaining high-quality educational experiences for our students.
Sincerely,
Bonita R. Durand, Ph.D.
Interim president
Buffalo State University