From Maurie McInnis, President
In a time when it is easy (and understandably so) to be consumed by the national news,
it is critical that we remain focused on the work that will ensure our future here
at Stony Brook University. With that in mind, I want to provide an update on the efforts
of the Financial Sustainability Steering Committee, which began in earnest one month
We now have roughly 120 faculty and staff engaged in our Strategic Budget Initiative
across five task forces and the technical support team. In a clear demonstration of
the power of partnership, the co-chairs of each task force have built teams that have
enthusiastically embraced their charge.
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ACHIEVING FINANCIAL SUSTAINABILITY
This has been a difficult and unprecedented year for higher education in general as
well as here at Stony Brook.
From a financial perspective, COVID has had a significant impact on our budget through
both a meaningful increase in costs as well as dramatic reduction in our overall revenue.
These budgetary impacts have been further compounded by reductions in state allocations—a
trend that we anticipate for many years into the future.
While we have taken a number of difficult but necessary stop-gap measures to address
these challenges, they come nowhere near closing our shortfalls. Stony Brook’s financial
challenges are more long-standing and systemic than COVID. For many years our funding
has not kept pace with our peer research institutions or even our own cost of education.
As a community, we must immediately begin to re-examine our approach through a series
of substantive conversations—sharing our best ideas and challenging assumptions to
build on the excellence of Stony Brook University—in order to continue to move this
great institution forward.
We are approaching this undertaking in a three phased process:
Phase I: Understanding the Challenge
In August, this website, “Achieving Financial Sustainability” was launched by sharing
detailed information and data to help our community understand the current climate
and historical trends that have and will continue to influence our financial position.
To better understand the funding we receive, our costs, and the budgetary challenges
we face, please explore the page on this site entitled
"Understanding the Challenge."
Phase 2: Partnering with Purpose
In Phase 2, much of the heavy lifting will happen. Through a series of listening
sessions, discussions, surveys and other means intended to engage the community, the
Strategic Budget Initiative (SBI) will begin to identify both short-term operational
and longer-term strategic opportunities to improve our financial position. We will
be able to implement some of these opportunities immediately, while more significant
initiatives will need to be implemented in the next phase.
In particular, the goals of the Strategic Budget Initiative during Phase 2 are to:
- Explore opportunities to strengthen and focus our research endeavors and encourage
additional inter-disciplinary collaboration and innovation.
- Identify ways to more closely integrate the Hospital and clinical practices with our
- Analyze our academic programs with a focus on understanding evolving needs and opportunities,
aligned with our diversity, equity and inclusion goals.
- Create opportunities for better alignment, remove unnecessary duplication, and provide
best-in-class operational support as one campus.
- Evaluate ways to better utilize the resources and facilities available on campus and
scale the support for the wide array of our cultural and athletic programs .
Detailed information on the SBI is available on the page
"Partnering With Purpose."
Phase 3: Implementation
Once phase two is complete and strategic opportunities to both grow revenue as well
as reduce costs have been identified, we will move together to the implementation
phase. The exact timing and nature of these changes will depend greatly on the ideas
and opportunities this process generates. We will be able to implement some of these
opportunities immediately, while more significant initiatives will need to be implemented
over time or require additional analysis and evaluation.
Note: This website has important information and it will be updated frequently. Please
read it and please
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