A Message from President Aceves

Growing wealth is an integral part of achieving financial security and stability. At Regis, for the past decade, we have been focused on building wealth. Through discipline, careful investing, and patience, we have seen Regis University’s level of wealth grow through increased assets and investments. Some examples of increased wealth include expanded facilities, the appreciation of our investments, and accumulated past earnings. With Board support, we have a three-year plan that allows us to spend up to $35M of the institution’s wealth while we adapt and adjust university operations to better meet the evolving changes in our industry. 

Stewarding wealth and adapting to the fiscal realities of the university is the role of the Chief Financial Officer. We are fortunate to have Ms. Stephanie Morris in that role. I asked her to reflect on the finances of the university. She writes, 

“With commencement comes the ending of an era and new beginnings for our students. For Regis, this celebration with our students also brings the beginning of our new fiscal year. Fiscal year (FY) 2024 marks the second year of our 3-year operational improvement plan. A plan Regis’ Board of Trustees approved leveraging the strength of our balance sheet and allowing important initiatives and strategies to stabilize Regis’ enrollment and related operations.

Our operational improvement will focus on several key initiatives. These include (1) continued work to align expenses to revenue, (2) the implementation of a comprehensive academic program review, and (3) the implementation of university-approved, consultant-led, Organized for Success recommendations. 

At the April Board meeting, the Trustees approved a high and low enrollment estimate to anchor the FY 2024 operating budget. With support from operational leaders, Senior Leaders started developing budget allocations that align with Board approved expense parameters for both the high and low enrollment estimates. It is important to note that both operating budgets will need to reflect the second installment of the compensation study plan. We estimate this amount to be approximately $3M. The budgets will be reviewed and approved by the Board at their June meeting.

While Regis reflects the national trend of enrollment declines, long-term financial planning and our accumulated wealth are helping carry the University through this 3-year operating improvement period. Over the next two fiscal years, we will reset our enrollment and revenue goals to better reflect market demand. Flexibility, adaptability, and resilience are essential principles guiding our planning. It is more critical than ever that we appropriately invest in our people, programs, and facilities to ensure the vitality and sustainability of Regis University. We also remain committed to the practice that our budget reflects the financial articulation of our mission.”

As we look toward the future, I share my belief in the limitless potential of human ingenuity and resilience. Despite our obstacles, let us embrace hope and optimism, and move forward with courage and determination as we reimagine university operations.

Kindly,

Salvador D. Aceves, Ed.D
President