Geoffrey Chatas,
Executive Vice President and Chief Financial Officer
Learn about the University of Michigan, including Featured News, Featured Projects, and the Team.
The University of Michigan is a comprehensive public institution of higher learning with over 65,000 students and 50,000+ employees on three campuses (Ann Arbor, Dearborn, and Flint). U-M’s ongoing success is evidenced by our recurrent recognition in U.S. News & World Report as one of the top values in higher education nationally and as one of the top three public universities for undergraduates. U-M also has a nationally renowned health system which includes a wide array of hospitals, joint ventures, health centers, and outpatient clinics that provide world-class medical services statewide.
U-M was originally chartered in 1817. The main campus is located in Ann Arbor, 43 miles west of Detroit, and major campuses are also maintained in the cities of Dearborn and Flint, Michigan. Undergraduate programs in nearly 500 fields of study are offered by these three campuses. U-M is governed by the Regents of the University of Michigan, consisting of eight members elected at large in the biennial state-wide elections and the President of U-M, who serves as an ex officio member.
In FY 2023, President Santa J. Ono joined U-M and a number of significant initiatives began, including Vision 2034, a collective strategic visioning process to imagine our shared future for the next 10 years, which engaged U-M students, employees, alumni and partners. Campus Plan 2050 was also launched and provides an extraordinary opportunity for the U-M community to help craft a blueprint for the university’s Ann Arbor campus, with a special focus on creating the living, learning and working environments that support our strategic vision. There has also been significant progress on our sustainability efforts, including installing renewable energy infrastructure, constructing green buildings and prioritizing clean transportation. Campus improvement projects financed by our “green bonds” are addressing climate transition risks by mitigating greenhouse gas emissions from buildings and the transportation sector.
Because of its financial strength, U-M remains well positioned for the future. As of June 30, 2023, U-M is one of only seven public universities in the country to earn the highest possible credit ratings from S&P Global (AAA) and Moody’s (Aaa). We’ve maintained these outstanding ratings for years, which is a clear indication of our long-term financial strength and stability.
The University of Michigan has maintained its place as one of three public universities to make the top 15 U.S. institutions in the QS World University Rankings 2025 edition released June 4.
U-M ranked 44th overall among 1,503 universities across the globe, and 15th among 197 institutions in the United States. The University of California, Berkeley was sixth and the University of California, Los Angeles was 13th among U.S. institutions.
The rankings are based on nine factors:
Among those categories, U-M scored highest for its academic excellence followed by the richness and diversity of its international research partnerships and the employability of its graduates.
The University of Michigan is revisiting a Campus Connector transportation concept that would enable people to move between the Central, Medical and North campuses in minutes.
As an initial step, U-M will convene a virtual Industry Day on June 6, where prospective vendors will receive an overview of the project’s goals, scope and requirements.
The university expects to launch a corresponding request for qualifications this summer, inviting potential partners to submit information for the design, construction and long-term operation of the system.
“We’re embarking on a formal process to optimize our university transit network and create a more connected, more cohesive Ann Arbor campus,” said Geoff Chatas, executive vice president and chief financial officer.
“As our university community grows, so does the need for a more efficient transportation network. Though we’ve explored the Campus Connector previously, we’re excited to relaunch this initiative, collaborate with surrounding communities and examine ways to build a system that would be fast, convenient, environmentally sustainable and equitable.”
The Campus Connector concept would include a core automated transit system, which serves select hubs via an elevated guideway, as well as a corresponding high-efficiency, high-capacity bus rapid transit system.
Because the automated transit system would not share roadways or otherwise impede regular vehicular traffic, organizers expect the project to decrease local traffic congestion. It also is anticipated to decrease parking demand and increase local economic development opportunities, as it would connect relatively less dense North Campus stations to the Medical and Central campuses.
In addition to providing quicker and more convenient cross-campus transportation, the Connector would aim to complement universitywide work toward carbon neutrality and serve as a model for sustainable mobility.
Although the Connector would increase the university’s energy demand, it would decrease commuting-related greenhouse gas emissions. As U-M seeks to procure 100% of its purchased electricity from renewable sources, the transit system ultimately would derive its energy entirely from renewables.
Concurrently, U-M continues to acquire battery-powered electric buses as it works to electrify its vehicle fleet. Carbon neutrality, climate action and environmental justice are core values in multiple universitywide initiatives, including Vision 2034, Campus Plan 2050 and the Connector project.
U-M has been actively exploring the Campus Connector concept for several years in collaboration with the city of Ann Arbor and various local and regional stakeholders.
The project recently has moved forward alongside Campus Plan 2050, a long-term effort to explore how the Ann Arbor campus should be designed to support the university’s mission, and Vision 2034, which seeks to define what U-M wants to accomplish and how it will evolve over the next 10 years.
The university will share additional information regarding potential technologies, routes and funding sources for the Campus Connector as the project progresses.
The University of Michigan is moving ahead with plans to construct on-campus solar power installations with a capacity of 25 megawatts across the Ann Arbor, Dearborn and Flint campuses, including Michigan Medicine and Athletics.
The Board of Regents voted May 16 to hire Radial Power, a Houston-based distributed energy and sustainability solutions firm, to design and build the installations. The action follows a February 2023 call for proposals to build large-scale solar projects across all U-M campuses.
“On-campus solar is a tremendous opportunity for the university,” said Geoff Chatas, executive vice president and chief financial officer.
“We look forward to collaborating with Radial Power and our community partners to build innovative installations that will reduce our operational greenhouse gas emissions, spur sustainable business practices, and provide a powerful symbol of our commitment to climate action.”
The total amount of electricity generated would equal the power consumed by approximately 3,000 homes annually. U-M is pursuing installations totaling approximately 20 megawatts on the Ann Arbor campus and 5 megawatts between the Dearborn and Flint campuses.
Project locations have yet to be determined, although the university will prioritize large rooftops, existing parking decks and parking lots, and will consider ground-mounted arrays.
“These installations will visibly demonstrate our ongoing transition to renewable power and our commitment to ensuring meaningful community benefits, both on and off campus,” said Shana S. Weber, associate vice president for campus sustainability.
“This is one way the University of Michigan serves as a living and learning laboratory for our students, for higher education, for Michigan and for the broader region.”
Installations will be phased in over three years. Once operational, they will help move U-M toward its goal of eliminating direct campus greenhouse gas emissions by 2040.
Radial Power was chosen from 16 firms that responded to the university’s initial call for proposals. In addition to emissions-reduction benefits, Radial will prioritize opportunities to facilitate living-learning laboratory opportunities for the U-M campus community. The firm also will donate 10% of the effort’s proceeds to solar projects in surrounding communities, with relevant partners to be identified.
The contract is estimated to cost approximately $70 million, excluding potential expenses related to building modifications needed before installation.
U-M’s on-campus solar push is one strategy in its overarching commitment to achieve universitywide carbon neutrality by 2040. Carbon neutrality, climate action and environmental justice also are core components of ongoing central Vision 2034 and Campus Plan 2050 efforts.
Executive Vice President and Chief Financial Officer
Associate Vice President for Finance