Business – shorthand for our balance sheet and our operational efficiency – remains the area where we face the most pressing challenges.
As a $4.14 billion non-profit enterprise with an annual operating budget of $4.01 billion, UCSF must remain financially secure if we want to properly educate the next generation of health sciences professionals, carry out unparalleled scientific research and achieve our mission of advancing health worldwide.™
UCSF has weathered hits from the economy, including the sequestration in 2013 that forced the NIH to cut $1.55 billion from its budget. While UCSF remains extremely competitive for those precious grant dollars, federal research funding overall has plateaued in recent years. Similarly, California’s beleaguered state budget continues to fund a smaller percentage of UCSF’s budget, now just under 4 percent.
In light of these ongoing challenges, UCSF has an increased focus on its long-term financial and business planning, the details of which are spelled out in the 10-year financial plan prepared by the University. It combines the medical center and the campus’ current and projected financial plan for the entire enterprise.
That strategy is taking shape both for the long-term planning effort now underway, called UCSF 2.0, which will guide UCSF over the next decade, and the short-term clinical enterprise strategic plan that will require UCSF Medical Center – like never before – to demonstrate its value as a provider of high-quality, cost-effective care.
UCSF is poised for great success now and in years to come. With more efficient operations and lower costs, vigorous fundraising initiatives and budgets allocated and aligned to our priorities, the future is bright.