Financial restructure in transition

Over the past few months, there have been numerous announcements made regarding the current financial situation at the University of St. Francis (USF). Following a series of budget cuts that have altered job positions as well as undergraduate programs, concern and frustration have carried a cold weight across campus due to the unexpected plot twists filled with a lack of transparency. In an effort to reinforce its financial foundation, USF is currently aiming to restructure part of its financial leadership positions.

This focus in realigning its financial planning and budgeting functions is mainly designed to provide better operational coordination across campus. Within the financial office, the creation of a leadership role that oversees financial planning, analysis and budgeting was reflected as part of the restructuring effort. Aligning these roles together was a decision made with the purpose of building a long-term sustainability that braces future growth. The Director of Financial Planning, Analysis, and Budgeting position was first posted in late August, and since then, the search process for finding the best candidate for the position has been ongoing. The Interim Vice President of Business Affairs, Michael Guns, noted that the hiring process is nearing its final stages and shared an update on the current staffing support.

“We expect to fill the position of Director of Financial Planning, Analysis, and Budgeting prior to the end of February. Final interviews are underway,” Guns said. “To maintain continuity, last fall we hired a highly qualified analyst on an interim basis. She brings higher education and private sector experience.”

The university hiring a highly qualified analyst shows that there is a supporting role that continues to help maintain stability within the financial office without disrupting any other activities during this transition period. This stability reinforces the operations that ultimately impact students, faculty and staff by remaining consistent with the goal of ensuring a strong financial oversight. 

“Combining the roles for financial planning and analysis with analytics was a common sense decision based upon the number of full-time equivalent employees necessary to complete those functions for an organization the size of the University of St. Francis,” Guns said. 

The Interim Vice President of Business Affairs reflected on the university's strategic approach to better management during this period of restructuring. He emphasized that the position was intentionally designed to consolidate these responsibilities all together since it is planned around staffing needs and organizational size. 

“Having a dedicated individual to support the Chief Financial Officer with planning, analysis, and budgeting, positions the university to provide President Hendrickson and his leadership team with the data to make decisions that ensure the long-term health of the organization,” Guns said.

Though it may initially seem unusual for three traditionally separate financial leadership roles to become a single one, Guns highlights that the decision serves a larger purpose that makes certain of a long-term success for USF. This will allow to create a stronger alignment between the financial data, analysis and institutional decision-making for budgeting efforts in the near future. 

“Initially the position will focus on supporting the fiscal year 2027 budget process. Looking ahead, the position will support the strategic planning process,” Guns said.

As final interviews progress and there is continuous substantial aid from the recently hired analyst, USF remains focused on working to position themselves for future growth. Leadership remains committed to strengthening financial planning for a better operational efficiency. The outcome from this developed position is to reflect how USF is preparing themselves to meet financial challenges while also moving forward to support its academic mission. 

Beyond USF’s goal to remain focused on improving its financial structure, these changes reflect the strong collaboration it takes to help create a more unified institution. Restructuring the shared responsibility within the operation of financial planning, analysis and budgeting allows one to gain a better understanding of how different areas work together to make certain of USF’s overall mission. By intertwining leadership roles, there is a better chance of improving communication within departments to ensure everyone is working towards the same priorities. This encourages a shared transparency that suggests a greater sense of connection across USF, and the effort that clearer communication is the key for a more unified future.