DAYTON, Ohio (WDTN) — The University of Dayton is resuming the long-range financial planning process interrupted by COVID-19. This process began in 2019.

The initiative will address long-term challenges affecting higher education, a release by the university said. it covers major demographic changes as well as the five-year financial impact of the pandemic.

The pandemic has not only caused increased financial aid commitments to new and continuing students, the university said, but also affected enrollment numbers internationally.

“The pandemic and demographic shifts demonstrate that universities must continue to adapt. Our proactive approach will allow us to manage strategically through the challenges ahead and shape the University’s future for generations of Flyers to come,” University President Eric Spina said.

Spina said that current students and families will see little impact, as the University of Dayton continues to have strong enrollments, positive financial margins, and growing support from donors and alumni.

A group of faculty, staff, and trustees will be charged with developing recommendations on operational, organizational, financial, and programmatic changes for the 2023 fiscal year budget as well as future years to come.

 “The path we chart will enable the University to wisely adjust to these circumstances and control our own destiny in a rapidly changing world,” Spina said.

To read the full letter to faculty and staff, click here.