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Financial Transparency

UCM at night

Even before the coronavirus pandemic upended the U.S. economy in 2020, UC Merced was ramping up efforts to be more transparent about its financial picture. Campus leadership continues to work strategically to exercise fiscal responsibility while keeping the campus community engaged with town halls, surveys and meetings with key stakeholders.

Questions or comments?  Contact us at dofa@ucmerced.edu

Upcoming Town Halls

10 - 11 a.m. Monday, June 6 via Zoom

Financial Transparency Communications

2022

April 1: FAQ: Equity Program for Staff Salaries

April 1: FAQ: Cost-Saving Initiative for Fiscal Year 2022-23

March 24: Budget Updates: Salary Market Equity Program and Vacancy Holds

2021

Aug. 10: Important Changes to Campus Budget Management

May 27: Salary Increases for Faculty, Staff Announced

May 21: $4 Million Approved for Staff Hires in 2021-22 Fiscal Year

March 12: Update on Campus Backfill Projects

Jan. 19: Delays and Re-Prioritizing of Backfill Projects

Jan. 7: Voluntary Separation Program Launched

2020

Dec. 14: Chancellor: No Salary or Time Reductions in Fiscal Year 2020-21

Dec. 14: Interim CFO: Efforts to Reduce Expenses Will Continue

Dec. 11: Early Childhood Education Center to Resume Operations

Oct. 28: Consultation Begins on Possible UC Systemwide Curtailment Program

Oct. 12: UC President Drake Begins Consultation on Possible Curtailment Expansion

June 29: Cost-Saving Measures That Prioritize Spending

June 8: Measures to Take for Campus Sustainability

April 9: Position Control and Fiscal Responsibility Guidelines

Campus Financial Transparency Town Halls

March 2, 2022: Interim Vice Chancellor and Chief Financial Officer Kurt Schnier hosted a virtual town hall to provide updates about the university's financial picture. Here are the event's presentation slides and video:

Nov. 17, 2021: Interim Vice Chancellor and Chief Financial Officer Kurt Schnier hosted a virtual town hall to update the university's financial picture. Here are its presentation slides and video:

April 30, 2021:  Interim Vice Chancellor and Chief Financial Officer Kurt Schnier hosted a virtual town hall to update the university's financial picture. Here are its presentation slidesanswers to participants' questions, and video:

The town hall's agenda:

  • Update on campus’ financial status 
    • Cash balances 
  • Future fiscal responses 
    • Update on stimulus funding 
    • Drivers of revenues sources 
    • Budget call process 
  • Continued partnership with UC Office of the President 
  • Fiscal conservation for FY22 – using the budget call process 

Feb. 12, 2021: Interim Chief Financial Officer Kurt Schnier hosted the virtual meeting, laying out the university’s financial situation and outlining paths to cost savings and revenue growth in the short and long term. Here are the town hall's presentation slidesquestions and answers, and video:

Key takeaways from the town hall:

  • Current measures are not sufficient to meet campus cost-saving targets
  • Need to begin to plan for cost reductions in fiscal year 2021-22
  • Cost saving measures that may be necessary:
    • Continued reductions in non-salary expenditures
    • Continued position control
    • Revisitation of salary/time savings program

Dec. 5, 2020: The first Financial Responsibility Town Hall, hosted by Interim Chief Financial Officer Kurt Schnier and Associate Chancellor Luanna Putney, gave the campus community an opportunity to ask questions about fiscal steps taken and those that might be employed in the future. Here are the town hall's audiopresentation slidesquestions and answers, and video:

Fiscal Responsibility Survey

On Dec. 7-10, 2020, an informal survey informal survey asked the campus community to weigh in some questions about fiscal responsibility and to offer their own ideas. There were 671 surveys completed.

One question was: What cost-saving measures are you taking? Answers included:

  • Taking on extra/different work to reduce payroll expenses
  • Boosting employee morale to prevent attrition.

Another question: What can the campus community do to save additional money? Among the answers:

  • Hold units responsible for cost savings in visibly transparent ways
  • Use fewer and less expensive consultants

Go here for more details about the survey results.