The Superintendency of Higher Education (SES) informed the university community of the Universidad Austral de Chile (UACH) that it approved the economic recovery plan presented by the Valdivia higher education institution to address its complex financial and administrative situation in the last years.
On February 15, the UACH formally presented its 2024-2025 Recovery Plan, with the aim of autonomously addressing the significant problems identified during a detailed investigation carried out by the SES last year.
After an exhaustive analysis of the proposed measures, the Superintendency identified observations that, if not corrected in time, could compromise the effectiveness of the plan and its impact on the financial and administrative health of the institution.
On April 2, the University presented a new report to the SES, detailing measures that correct the identified deficiencies, making necessary adjustments and committing to a profound organizational and operational restructuring. These actions aim to improve efficiency and restore the financial sustainability of the Universidad Austral de Chile.
“This Superintendency also values the effort developed by the university authorities and its different levels, who, aware of the complex scenario that the institution is experiencing, approached positions to commit to a roadmap that responsibly ensures the future of the institution. By virtue of the above, this Superintendency has decided to approve the recovery plan presented by the Universidad Austral de Chile, which, added to the favorable report delivered by the Ministry of Education, implies the beginning of a process that requires the execution of priority actions that “The institution must carry it out as soon as possible to ensure the viability and success of the subsequent stages of the plan,” the Superintendency said in a statement.
According to the statement, “it is essential that, immediately, the University executes the financial action plan, adopts urgent academic measures and establishes a monitoring unit that guarantees full compliance with the recovery plan.”
The execution period of this plan may not exceed a period of two years; Meanwhile, the Superintendency will ensure that this is fulfilled in its different stages. For these purposes, the University must submit to the Superintendency a first quarterly report, as of July 5, 2024, on the status of implementation of the critical measures and respond in a timely manner to any requirements that may be formulated.
If this is not the case, the Superintendency will negatively evaluate the implementation of the plan’s measures and will advance the adoption of alternatives that ensure the financial sustainability of the institution. To closely monitor this process, a delegate will soon be appointed in charge of providing detailed follow-up to each of the initiatives committed to in the plan.