William & Mary today released the 2018 Financial Report, “Boldly Forward,” part of an annual reporting process that details the university’s fiscal health.
The report, which focuses on Fiscal Year 2017-18, includes a message from President Katherine A. Rowe as well as information about philanthropy and finances at William & Mary. It also includes a message from Sam Jones, senior vice president for finance and administration. Among highlights of the report, the For the Bold campaign maintained strong momentum during FY 18, topping $800 million on its way to reaching the $1 billion goal by 2020. William & Mary is also the No. 1 nationally ranked public university for alumni giving.
“Since my arrival, I have been struck by our community’s ambitions for our university,” Rowe said in the report. “With our pride in our historic prominence, we also share aspirations of modern pre-eminence for William & Mary — a future even more substantial than our past.”
Rowe shared the report as part of an email update to students, faculty, staff, alumni, parents and friends of William & Mary regarding the Thinking Forward strategic listening initiative.
“Charting our future requires a deep understanding of our fiscal realities. The 2018 Financial Report underscores the critical importance of aligning resources with our highest priorities,” Rowe said. “This moment of relative prosperity affords us the opportunity to think strategically and act from a place of strength, recognizing the pressing importance of securing a firm financial foundation for the longer term. I very much look forward to continuing this work with you.”
In the report, Jones provides an overview of William & Mary’s finances during the fiscal year, reports on the performance of investment and endowed funds and philanthropy, details capital investments and offers a financial outlook for the university.
Rowe outlined preliminary financial priorities in her message, including diversifying revenue sources in order to sustain affordability and excellence, undertaking sustainable transformation that is aligned with W&M’s mission, creatively improving learning and extending the university’s reach and ensuring affordability.
A campus-wide effort to enhance awareness and understanding about William & Mary’s financial model is now underway and will play an important part of the next phase of the Thinking Forward initiative, Rowe said. The first phase received hundreds of comments that generated more than 800 data points on W&M’s future of knowledge, work and service through campus forums, online submissions and social media responses.
The process is now shifting to an exploration of three emerging themes:
- Deep human connection is a hallmark of William & Mary.
- The intersection of diverse modes has increasing value (fields of knowledge, skills in work and integration of service).
- Sophistication in bridging difference, cultivated in an inclusive community, enriches our lives – at work, in service and, most importantly, in relationships with others.