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Important Message from WVU's CFO on updated spending guidelines

Following the first six months of this fiscal year, our projections of revenues and expenses for Fiscal Year 2023 indicate we are facing a several-million-dollar deficit. We are waiting for information from a few key areas that may relieve some of the pressures, but it will not address the total deficit. Once we have finalized those numbers, we will share them with you.

Though no one wants to manage a deficit, it is manageable if we make some short-term adjustments as a University. The priority is to limit spending Systemwide throughout FY 2023 and into FY 2024. we will continually evaluate and provide updates throughout the year when spending limitations can be adjusted. Our next update will be in late April.
Prioritize spending on those items and programs that will most help us achieve our critical goals as a University system and lead to a return on investment. Those items or programs that contribute to the recruitment and retention of students, as well as the quality of the student experience, would be considered a high priority. We will need to implement a suspension of hiring, purchasing, hospitality and travel. Please see below for details. *The guidelines below do not apply to grant funded expenditures. Grant funded hospitality, travel, and purchases may proceed as long as they are permitted within the grant.

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