Feb. 28, 2020— The Board of Governors at Missouri Western State University approved a strategic policy yesterday designed to further stabilize finances for the institution while facilitating an enhanced focus and a strengthening of the University’s academic programs.

“We have made progress in terms of achieving financial stability this year. At the same time, we are not immune to the continuing forces driving unprecedented change across the higher education sector,” said President Matt Wilson. “It is our responsibility to innovate, develop offerings responsive to the marketplace and invest in our strengths in order to chart a course that ensures student success and the long-term fiscal strength of the university.”

A financial advisory council has been formed to review the financial situation, explore what progress has been made and make recommendations for attaining long-term financial stability and growth. The financial advisory council consists of representatives from the president’s cabinet, Faculty Senate, academic deans, Staff Association and Student Government Association.

In October of last year, the Board approved a revised operating budget with a $3.178 million projected deficit. While the institution has closed the gap through cost-savings measures, a $2.4 million gap remains.

“We need to be frugal without sacrificing focus, innovation and our commitment to students,” said President Wilson. “More than anything though, it is critical that we find ways to stabilize our financial position, reimagine our institutional identity, become even more distinctive and focus our limited resources in areas of strength.”

Missouri Western State University is a student-centered learning community preparing individuals for lives of excellence through applied learning. Missouri Western is located in St. Joseph, Mo., and is committed to the educational, economic, cultural and social development of the region it serves. Visit www.missouriwestern.edu.