Our goal is to ensure the long-term fiscal sustainability of Saint Mary’s through careful and strategic management of institutional resources, including the development of new revenue streams and funding opportunities.
Strategic Direction
We are committed to operational excellence, embracing transformational ideas and seeking out ways to steward meaningful relationships with local, national and international businesses, governments and communities. We also recognize that our financial situation must change to enable us to respond to challenging circumstances, pursue strategic priorities and deliver on our core mission of teaching, research and service to the community.
The fulfillment of our mission requires us to make a sustained effort to control our costs and to increase the level of funding from public and private sources, with the goal of achieving and maintaining a balanced budget year-over-year. Successful universities are financially disciplined, managing costs and growing alternative forms of revenue. A financially sustainable operating model is essential for us to reinvest in our mission to create the highest-quality student experiences and produce impactful research.
Objectives
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Evaluate administrative systems and processes for efficiencies and improved user experience |
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Align financial resources and our academic mission to protect our ability to support innovation, effectiveness and efficiency |
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Engage a Strategic Enrolment Management Plan in support of student registration to sustain academic programs and student services |
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Embrace digital transformation and digital learning to support the academic mission, innovation in teaching and learning, and sustainable business operations |
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Pursue strategic external partnerships that support our mission, align with our values and enhance sustainability, and expand reciprocal opportunities for partnering with other post-secondary institutions, businesses and community organizations |
The university’s commitment to long-term financial sustainability is reassuring. Given the diverse nature of our community, including international students who enrich the Saint Mary’s environment, financial strategies must consider their needs to ensure our collective sustainability. Amidst challenges like COVID, inflation and shifting government funding, addressing financial concerns head-on is a bold move reflected in the Strategic Plan. This step signifies the university’s proactive stance in navigating uncertainties and the resources necessary for our continued growth and success.
I believe that transparency about finances is extremely important, and it is refreshing to see Saint Mary’s informing the community about the ongoing challenges. Ultimately, students, faculty and staff alike all want to see Saint Mary’s continue to provide an amazing learning experience. Being able to appreciate the reality of the situation is key to collectively addressing it in a constructive way.