Maximizing Resources FAQ
We have compiled some of the most common questions asked about this initiative. If you have any additional questions, contact us at firstname.lastname@example.org.
Why is Georgetown undertaking these initiatives?
Georgetown has been more closely managing finances over the past year. In order to sustain financial health and continue to provide resources for students and faculty, the University is looking at areas where we can find efficiencies. The initiatives being undertaken are intended to be ways to maximize our resources in a productive and positive manner.
Who is leading this initiative?
In 2018, Georgetown partnered with Huron Consulting Group to complete a review of the University’s operations. After meetings with faculty and staff stakeholders as well as sessions with campus leadership, including the President, COO, Executive Vice Presidents, President, and the Board of Directors, Huron identified opportunities for further analysis that have the most potential to financially and strategically strengthen the University. With the Huron review complete, the implementation of these programs will transfer to Georgetown’s new internal financial consulting organization under the AVP for Financial Strategy and Business Integration.
How robust was the initial review performed by Huron?
Huron met with members of the campus community and reviewed data from all aspects of campus operations to make a holistic and realistic set of recommendations. Huron also has an extensive background in higher education with strong benchmarking information from our peers. Huron teams spoke with over 160 staff and faculty members and consulted closely with University leadership. If you have ideas that might not have been recommended by Huron, you can contact us at email@example.com.
What happens if we don’t achieve all of the planned savings or new revenue?
If not all of the planned savings or new revenue is realized, campus leaders will discuss the next steps. Overall, Georgetown does not want to undertake more dramatic efforts to reduce spending unless it is absolutely necessary.
How long will this effort last?
We anticipate this effort going through fiscal year 2025, although we will continually look at ways to be strong stewards of Georgetown’s resources.
How will the savings be distributed?
Savings from these efforts will be used to invest in our facilities and other deferred maintenance projects, our academic and research programs, and new and strategic investments to ensure Georgetown’s continued competitiveness. We hope to invest in these initiatives while producing a sustainable, balanced budget for the university.