Dear Rice community,
As we move forward into the year, we want to take a moment to update you on Rice’s financial position and the thoughtful planning underway to ensure the university remains strong and agile despite significant economic headwinds externally.
Thanks to the dedication of our faculty and staff, careful stewardship of our resources, and the continued support of our community, Rice is poised to finish fiscal year 2025 in June in a healthy financial position with revenues growing, operating expenses well managed and investments in priorities that advance our mission. These investments are supporting a growing student body and faculty and our steadfast commitment to affordability, student success as well as our research and innovation priorities as we continue to advance and reward our talented faculty and staff through compensation and benefit investments.
At the same time, we are mindful of emerging challenges that are likely to broadly affect higher education and Rice in the coming years — from potential changes in federal research funding and endowment taxes to market volatility and rising operating costs. Many of our peer institutions have already taken action by implementing hiring freezes, budget cuts and reducing the number of graduate students.
As we approach Rice’s future, we are making thoughtful, strategic decisions to ensure the long-term sustainability and success of our institution. While we are well prepared to navigate this period, it will require trade-offs and it is important to embrace a heightened mindset of fiscal responsibility. This moment offers an opportunity to carefully reexamine our practices and identify areas where we can operate more effectively and efficiently. We encourage you to join us as we thoughtfully and collaboratively engage in this process.
Our approach will continue to be grounded in transparency and shared commitment to Rice’s mission. If adjustments are needed in the future, we will act in a way that reflects our values by working closely with campus leadership, communicating clearly and staying focused on the things that matter most — supporting our students, advancing discovery, making an impact in our community and on the world, and strengthening the Rice experience for all.
With appreciation and best wishes for the remainder of the semester,
Reginald DesRoches, President
Amy Dittmar, Provost and Executive Vice President for Academic Affairs
Kelly Fox, Executive Vice President for Operations, Finance and Support