Finances & Operations

The College uses a five-year budgetary planning model and has an annual operating budget of $75 million and an endowment of approximately $85 million. Although the College is in a healthy financial condition, with a long history of strong operating performance and annual surpluses, recent downward trends in enrollment have exceeded the pace of cost reductions, resulting in increased budgetary pressures. College leadership is actively engaged in developing solutions to mitigate these pressures. 

In 2013 Saint Michael’s College joined with Middlebury and Champlain College in founding the Green Mountain Higher Education Consortium (GMHEC.org) to develop ways to reduce administrative costs and improve services that are common to the three institutions. In 2014 the Consortium announced the selection of J.P. Morgan Chase as its purchasing card service, securing better rebates for the membership. The Consortium is currently in the process  of reviewing vendors for a new Enterprise Resource Planning system for the members.

 

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