Mills College Board of Trustees Approves Revised Financial Stabilization Plan

Oakland, CA—June 27, 2017

At a special meeting of the Mills College Board of Trustees held yesterday to address the College’s financial emergency, trustees adopted a revised Financial Stabilization Plan (FSP) and a budget for the next fiscal year. The revised FSP outlines a path to sustaining Mills’ transformative educational opportunities and developing new alliances and programs to balance Mills’ budget within three years.

The plan includes measures to increase growth and reduce costs. Other anticipated changes include the restructuring of academic departments and programs and the implementation of a new signature undergraduate experience.

Over the past month, the College consulted with faculty committees, departments, and individual faculty members, as well as with students and other stakeholders. In a special Board of Trustees meeting held last week, and in written submissions made since the declaration of financial emergency last month, a variety of students, faculty members, and alumnae/i addressed the Board and filed written statements concerning the draft FSP plan.

The President and Provost thereafter proposed changes to the draft plan that strengthen Mills’ ability to meet student needs and stabilize the College’s finances.

“The opportunity for consultation with faculty, students, and our community has made this plan stronger,” said Mills College President Elizabeth L. Hillman. “I appreciate the passion that so many have for our mission and students, and I look forward to building a solid financial foundation for a revitalized Mills.”

About Mills College
Located in Oakland, California, in the heart of the San Francisco Bay Area, Mills College is a nationally renowned independent liberal arts college for women with graduate programs for women and men. Ranked one of the top-tier regional universities in the West by U.S. News & World Report, Mills is also recognized as one of The Best 381 Colleges in the nation by The Princeton Review. Since 1852, we've been empowering students to become creative, independent thinkers who take and inspire action. For more information, visit www.mills.edu.