Strategic Priority #11
ACHIEVE FINANCIAL HEALTH AND GROWTH
Saint Mary’s will optimize existing and develop new strategic revenue streams while enhancing a culture of philanthropy to sustain our mission and advance our vision. We will implement improved financial and budgetary management policies, procedures, and practices, and we will invest in systems and processes that enhance the teaching and learning environment, and increase operational excellence and effectiveness. We will transition to a new budget model built upon a three-year forecast that aligns revenues and expenses, allocates contingency funds, builds an operating reserve, and ensures transparency and accountability.
Initiatives
We will be updating this page with our accomplishments as we execute the Strategic plan.
2021-2024 Accomplishments
The Business Office developed a three-year budget plan with FY2025 and FY2026 forecasts, and the series 2023A bonds will refinance the 2007 bonds, terminate an interest rate swap, and provide working capital of about $55 million toward investment in the strategic plan and launch programs as represented by the next three years of structural budget deficits, as well as create a minimum $10 million operating reserve.
Updated: July, 2024