Budget Update
All,

Over the past two weeks, I have been meeting with the leadership of each unit at Idaho State University to kick off the fiscal year 2021 budget development process. In support of our values of engagement, collaboration, and transparency, all process information is housed on the FY2021 Budget Development website and we have scheduled both Drop-In/Q&A sessions and Campus Forums as follows:
January 23, 3:00-4:30 p.m.
Budget Drop-In Session/Q&A 
Rendezvous Suites A, B, C 

January 30, 10:00-11:30 a.m.
Campus Open Forum
Rendezvous Suites A, B, C 
January 24, 10:00-11:30 a.m. 
Budget Drop-In Session/Q&A 
Wood River and Little Wood River rooms

February 14, 1:00 - 2:30 p.m.. 
Campus Open Forum 
Rendezvous Suites A, B, C 
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 additional submissions .

In addition to the scheduled Drop-In Sessions and Campus Forums, we have created a feedback form 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
Send comments, feedback, and questions to glennelson@isu.edu .