Together We Thrive Presentation Together We Thrive White Paper
Dear Colleagues,
As a mission-driven, public institution, our University not only serves the students, communities and interests of Washington today – we also have a profound obligation to ensure that the UW continues to serve the generations of students to come and supports the future health and well-being of our state and world.
Like our peers across the higher education landscape, we face serious and growing financial pressures. It is incumbent upon us as the stewards of this great University to act sooner rather than later to address the increasingly unsustainable imbalance between revenue and expenses. We are writing to you, the leaders responsible for the UW’s overall success and financial health, to introduce a new program developed by the Office of Finance, Planning and Budgeting for a strategic course correction to ensure institutional financial resilience.
The Together We Thrive program, detailed in the attached white paper and accompanying slides, outlines our financial situation, the challenges we face and next steps for a collaborative approach to pursuing financial resilience. There will not be a simple answer. Fortunately, we have many approaches available to us, and we must identify the strategic combinations that best support our needs. It is critical that we undertake this work now, while we are in a strong position to address potential shortfalls and put ourselves on a path to long-term solvency. With your support and talent for problem solving, we can accomplish this vital task for the enduring health of our institution and the continued success of our shared endeavor.
This is not the first time that our University has faced financial hurdles. The cyclical nature of the economy and fluctuating state revenues and investment have always affected our budgets, and we have always risen to the challenge by grounding ourselves in our values and commitment to the responsible stewardship of our public and private resources. Through early and strategic planning now, we can once again meet the UW’s long-term financial needs.
Our ask of you is that you spend some time with the attached plan and prepare to take part in determining next steps and our collective path forward. Thanks to your record of outstanding leadership and your commitment to learning, discovery and service, we are confident that together we can meet this significant challenge. And we are, as always, grateful for all that you do to advance our public mission.
Sincerely,
Ana Mari Cauce
President
Professor of Psychology
Tricia R. Serio
Provost and Executive Vice President for Academic Affairs
Professor of Biochemistry
Sent Thursday, January 9, 2025