The University of Louisville is first and foremost an academic institution committed to excellence. The education of its students in undergraduate, graduate and professional programs is founded on a teacher-scholar model with a strong experiential component. The success and well-being of current and future students of the University of Louisville is of singular importance in all budgetary decisions.
- The University of the 21st Century Initiative: Powering the 2020 Plan will serve as the roadmap for prioritizing budget decisions.
- Budget reductions must be strategic, not across-the-board.
- Revenue enhancement, increased cost efficiencies, and internal reallocations must all be aggressively employed.
- Enrollment growth will be prioritized as a strategy for revenue generation.
- Tuition and fee increases must be minimized to the extent possible.
- Financial aid to students is a high priority.
- An “All Funds” approach will be applied.
- For academic units, program demand will be a key consideration.
- Core academic activities must be prioritized over administrative and support functions.
- Budget Reserve Funds must be maintained for mid-year flexibility and year-end capital expenditures.
The existing budget development and decision making process will be utilized. Within this process, communication and dialogue will be open, honest, candid and frequent.