Agenda and Meeting Notes

All Team Agenda – Feb. 3, 2026

• Financial Status Update
• Jayhawks Elevate
• Follow-up to Strategic Alignment Presentation 

Meeting Notes

Financial Status Update – Jeffery DeWitt, Chief Financial Officer & Executive Vice Chancellor for Finance

Jeffery DeWitt, Chief Financial Officer and Senior Vice Chancellor for Finance, presented an overview of the financial plan and forecasts, provided a progress update on Jayhawks Elevate, and answered follow-up questions from his Strategic Alignment presentation for the Office of Finance in January.

For FY 2025 on the Lawrence campus, revenue totaled approximately $1.2 billion, with expenses estimated at $1.1 billion. Tuition and fees are the largest single revenue source (26% of total), followed by auxiliary enterprises (20%), grants and contracts (19%), and state appropriations (16%). Of total expenses for FY 2025, compensation and benefits represent the single largest category, accounting for 61% of total expenses on the Lawrence and Edwards campuses (KULE), followed by supplies and other services (24%).

DeWitt noted that since spring 2025, several negative financial impacts have emerged, including a projected $13 million shortfall in FY 2026 tuition revenue. The projected shortfall is attributed to shifts in enrollment patterns (the ratio of resident to non-resident students) and a smaller freshman class than previously expected. Additional impacts include inflation, the elimination or uncertainty of federal research grants, and revenue sharing for KU Athletics. With changes to the revenue-sharing model following the House vs. NCAA settlement, Athletics was facing a $15 million budget shortfall for scholarships and other expenses. It was noted that this shortfall will be covered by KULE and KUMC.

DeWitt also discussed forecasts for FY 2026–FY 2030 and the assumptions underlying those forecasts, as well as variables that could change and affect KULE's net margins. Annual compensation increases were highlighted as an important consideration, as the cumulative expenses to reach market pay are estimated at around $55 million by FY 2029.

Jayhawks Elevate

For Jayhawks Elevate, DeWitt noted that of the 312 ideas submitted, 125 have been implemented and 56 are currently under evaluation. To date, 98 departments and offices have submitted at least one idea, accounting for 13% of all KU departments. DeWitt asked that leaders encourage their units and departments to participate in Jayhawks Elevate. Thus far, Jayhawks Elevate has achieved nearly $580k in annual savings.

Follow-up Questions to Strategic Alignment Presentation 

Questions and discussion focused on the $32 million budget reallocation and what those funds were applied to. DeWitt responded that $15.5 million went toward employee compensation increases for FY 2026, $10 million to Athletics and $17.5 million to strategic investments. Strategic investments included student services, academic units, new positions in the Office of Finance to manage KU’s real estate, support for Human Resources, research spaces, and high-performance computing.

Provost Barbara Bichelmeyer wrapped up the discussion by encouraging leaders to consider how the university can increase revenue beyond simply having more undergraduates on campus, as residential space and classrooms are at or near capacity. Provost Bichelmeyer reiterated that state appropriations account for just 16% of the Lawrence campus budget. Last fiscal year, the state provided only 2.5% of that 16% (0.4%) for wage increases, meaning KU will have to continue making cuts to fund wage increases unless the university finds new revenue streams.