Dear colleagues,
I am pleased to let you know that the Board has recently approved our proposed budget for the next fiscal year, 2021/22. The Board, through approving the budget, has shown us again that it supports our core academic mission and strategic direction, including our proactive and resolute response to the COVID19 pandemic and our investment into new and exciting strategic initiatives. In the challenging economic environment, this support is a truly strong endorsement of the KAUST mission.
The approved budget will ensure that frontline budgets in research, graduate education and economic development are appropriately supported and that we can also continue to grow our faculty and student base. Furthermore, the continued role for KAUST in national economic advancement, talent development and our growing number of in-Kingdom strategic partnerships, has also been recognized.
In the past year we have seized the opportunity of the current global economic situation and have seen exceptional recruitment in excellent faculty and students, beyond our original expectations. The Board strongly supported our overall budget theme of “Growing Strategically while Optimizing Costs” and we will therefore continue to grow in 2021/22 and beyond, until we reach maturity. Like all organizations, KAUST must also continue to find efficiencies and optimize its valuable resources. I am however very optimistic that we can look forward positively.
Once again, the commitment and effort from so many across the organization over the last year has been truly inspiring and it tells me that we will continue to strive and excel, due to this collective spirit. I know we will together rise to the occasion and forge ahead with achieving our mission.
As I have said before, let’s turn a crisis into an opportunity for KAUST.
Yours sincerely,Tony F. Chan
KAUST President
