Leadership Notes > 2023-24 > FY25 budget process

FY25 budget process

​Dear Faculty, Staff, and Students, 
We are happy to report that all our colleges, schools, and administrative units have submitted their fiscal year 2025 budget recommendations for consideration. Thank you for your dedication and collaboration in getting DePaul to this point in the budget process. Your engagement and feedback are instrumental in shaping a budget that will help us secure a strong future for DePaul and our students. 
This week, the Strategic Resource Allocation Committee (SRAC) will meet to begin reviewing budget priorities for fiscal year 2025. The group will hear budget presentations from the administrative units under the offices of the president and the executive vice president. The provost’s office is in the process of reviewing budget proposals for the colleges and schools, which will be shared with SRAC mid-March.  

SRAC members, representing DePaul's faculty, staff and students, will consider many factors when making budget decisions. Committee members will examine detailed financial information, including anticipated enrollment growth, tuition revenue and financial aid trends; changes in expenses driven by both contracted increases and inflation; and new initiative funding requests. With these data as context, committee members will review budget priorities and make decisions around broader financial commitments, such as the level of funding required for salary increases.  

The goal of SRAC is to propose a budget that balances both the need to fund strategic objectives and improve upon the university’s solid financial footing. SRAC will work to present a fiscal year 2025 university budget to the president in March, in anticipation of approval from the Board of Trustees in May. The new budget will take effect on July 1, 2024.  

SRAC members include representatives who are nominated by Faculty Council, Staff Council, and the Student Government Association. The provost recommends two dean appointments, and the executive vice president recommends one administrative vice president appointment. 
This year's voting members of SRAC are: 

  • Sonia Soltero, Faculty Council President 
  • Bamshad Mobasher, Faculty Representative 
  • Victoria Van Kirk Pride, Staff Council President 
  • Parveen Mundi, Student Government Association President 
  • Jennifer Rosato Perea​, Dean, College of Law 
  • Stephanie Dance-Barnes, Dean, College of Science and Health 
  • Robert McCormick, Vice President, Information Services 
  • Salma Ghanem, Provost 
  • Sherri Sidler, Executive Vice President and CFO 
​​As a resource to help the university community understand the budget process, we encourage you to visit the Budget Blueprint website. The website is dedicated to sharing budget information and features historical data about DePaul’s financial landscape, explores trends in higher education across the United States, and outlines the budget process the university follows. 
We are also conducting virtual Educational Sessions​ for the university community. Registration is open to all faculty and staff. 
Thank you for everything you do to drive our university forward. We will continue to keep you updated throughout the fiscal year 2025 budget process. 

Salma Ghanem 
Provost, SRAC co-chair 

Sherri Sidler 
Executive Vice President and Chief Financial Officer, SRAC co-chair