In response to the release of an Ernst & Young financial report of UA which measured an $18-million deficit, the Board of Trustees discussed its new “Transformation Plan” during its meeting yesterday.
The new plan, entitled Stabilize-Invest-Grow, will attempt to solve UA’s falling revenues and deficit problems by implementing new initiatives.
According to Board Chair Roland Bauer, the initiatives will require changes to “supplement [the University’s] existing staff with specific experience and expertise to address the identified areas of priority focus to successfully implement the recommendations.”
To move forward with the plan, the Board approved an initial six-month contract with Ernst & Young, in which the company will assist with analytics and data collection and provide advice to University constituencies.
The contract can be extended on a month-to-month basis for up to an additional 18 months and is cancellable within 30 days notice.
Lasting for two years, the Transformation Plan aims to generate $60 million by raising revenue and reducing expenditures. Not only will the plan secure UA’s finances, but it will also prevent involuntary layoffs.
The Board also made other decisions at the meeting:
Tobacco use will now be prohibited in UA’s facilities, grounds and sponsored events starting on July 1, 2017.
At the end of this semester, the GenEd core program will be terminated.
Summer and Fall semester commencements will be combined. If a student graduate during a summer term, they will receive their diploma and can participate in the fall commencement ceremony.
A graduation list of 1,426 students was approved.
A resolution to honor Ted Mallo, who is retiring from his position of vice president and general counsel on the board on Dec. 31. He has served at UA since 1976.
Celeste Cook was named Vice President and General Counsel, Board Secretary and Chief Ethics Officer and will begin in January.
Two new Bachelor of Science degree programs will be offered in Criminology and Criminal Justice and Criminal Intelligence Analysis.
The next Board of Trustees meeting will be on Feb. 15, 2017, beginning with executive session at 10 a.m.