Budget Update for Fiscal Year 2025
Dear Students and Colleagues,
Today the University of Arizona welcomes the Arizona Board of Regents to campus for its April meeting. This afternoon, at approximately 3:45 p.m., John Arnold, Interim Chief Financial Officer and Senior Vice President for Business Affairs, will present an overview of the University’s initial budget for fiscal year 2025.
During his presentation, John will detail encouraging news, which I wanted to share with you ahead of the meeting. At this point in the budget planning process, I am pleased to announce the University is projecting that the FY 2025 budget deficit will be reduced from $162 million down to $52 million.
This anticipated improvement of $110 million in the University’s deficit is preliminary, but marks considerable progress in the implementation of our financial action plan. This is the result of concerted efforts by deans and leaders across the University who worked diligently on their budget plans to address spending trends and to significantly reduce the deficit.
While central administration, divisions and colleges all are part of the solution, the largest portion of the budget savings will come from reductions in administrative expenses. As a result of our budget decisions, the University will be in a position to allocate sufficient funds to ensure no college starts FY 2025 in a budget deficit.
Over the summer, we will continue to refine the FY 2025 budget framework. We will incorporate the external financial and operational review of Athletics and the University of Arizona Global Campus – along with updated revenue forecasts and the state’s decisions on allocations to universities – when that information is available.
For those interested, the ABOR meeting is open to the public and available via livestream. A recording of the presentation also will be posted on the board’s YouTube channel in the coming days.
We remain committed to achieving strong financial health and ensuring the ongoing success of our teaching, research and outreach mission. There is still budget work to do, but we are grateful for everyone’s hard work and the progress to date.
Thank you for all you do to support our mission.
Robert C. Robbins, M.D.
President
The University of Arizona
Resources
University Financial Updates website
Human Resources Guidance
Financial Services Guidance
Capital Project Guidance
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