Dates

• Existence: 1972 - 1976

Biography

J. Donald Monan, SJ, established the University Fiscal Planning Committee in November 1972, charging it with balancing the budget and projecting university revenues and expenditures over the following five years. Donald J. White, then Associate Dean of Faculties and Dean of the Graduate School of Arts and Sciences, served as chair. The committee held its first meeting on November 27, 1972, and submitted its five-year financial plan on May 1, 1973.

Due to unanticipated economic shifts, the plan became outdated, and the original committee was not reconvened for a 1976 revision. Subsequent financial planning was instead developed by the Executive Vice President in consultation with the President, other vice presidents, the Budget Committee, the Budget Director, the Deans Council, the Finance Committee of the Board of Trustees, and other university offices, with White consulted as the former committee's chairman.

Despite these adjustments, Monan was able to report to the Board of Trustees in 1976 that he had achieved the three financial objectives he had set upon assuming office: eliminating the university's accumulated deficit, establishing a system to keep the operating budget in balance, and reducing the high interest cost of long-term debt through refinancing. Subsequent financial plans covered 1978–1983, 1984–1987, and 1990–91 through 2000–01.