Update on FY’22 Budget
April 27, 2021
As you may know, over the past three days the Board of Trustees met virtually for its annual April meeting, where the Trustees typically review and vote on the university’s annual budget.
In the coming week, the Brandeis community will receive a general update on the meeting’s productive proceedings. But today, I am pleased to share that the Board has approved our FY2022 budget, which reverses several of the difficult measures that we implemented last spring as part of the university’s pandemic response. In particular, this balanced budget includes provisions that enable us to:
- Reinstate the university’s matching retirement contribution for faculty and staff as of July 1; and
- Reinstate the 2.75% merit pool increase for faculty and staff, also starting July 1.
In addition to these actions, our FY22 budget continues to account for the ongoing challenges, financial uncertainty, and increased costs associated with operating during a pandemic — including by instituting difficult but necessary administrative budget cuts totaling approximately 3.5% of our operating budget. Throughout our ongoing planning for the future, we will continue to root our decision-making in public health guidance, and with an eye to our university's academic mission.
I know that the 12-month suspension of the retirement and merit increase programs has been difficult, especially during a time of such uncertainty for us all. Despite the challenges of the past year, our faculty and staff have gone above and beyond to ensure that we could operate safely while still pursuing the type of research, teaching, and on-campus opportunities that make Brandeis special. The reinstatement of these two programs represents an important and welcome step forward as our community moves toward a "new normal."
I look forward to continuing to partner with each of you as Brandeis navigates the evolving challenges of the COVID-19 pandemic in the coming months. And I am grateful for the many ways that each of you has supported one another and our students throughout this period.