As Commonwealth University continues working through a budget deficit, its new Chief Financial Officer, Lisa Sharpe, says the path forward is clearer than it may seem, even if it includes significant change.
“Change can be very scary,” she said. “But once you understand the why, it’s important, and we are going to be going through this change for at least the next two years.”
Higher education across the country is shifting. Enrollment trends are changing, students are graduating in shorter timeframes, and fewer students are entering college at all. “Everything in academia is changing, it’s 2026, and life is changing,” stated Sharpe.
Sharpe steps into this role at a time when financial clarity and campus trust are especially important. The university’s deficit has raised concerns among students and faculty about what the future may look like, but she says she sees stability and opportunity.
“The past six months at this university have been remarkable for the institution, and the path to fixing the deficit is there,” she said. “I wouldn’t have come all the way here if I didn’t think we would come out stronger at the end of this.”
She attended Waynesburg University, which ultimately led her to a long career in higher education finance, including serving as Vice President of Fiscal Affairs and Chief Financial Officer at West Virginia University. Right out of college, she worked as an auditor for the Pennsylvania Department of Revenue before moving into university administration and later nonprofit work.
It wasn’t just numbers that brought her back to higher education.
“At WVU, I did a lot of financial statements, accruals, and allocations,” she said. “But when you work in administration, you don’t get the opportunity to work with students in the heart of campus, and that was what I was missing.”
After several years in the nonprofit sector, she returned to university leadership wanting to be closer to the institutional core. “You get to feel it when you work at a university,” she said.
As CFO, Sharpe is responsible for ensuring financial information is reported accurately and shared with those who need to understand what is happening within the institution. But she says the role is also about communication.
“We have to help everyone understand what is going on here and pull people together to follow the vision of the president,” she said, referring to new interim President Jeff Osgood. “And I will be there to support him.”
Sharpe emphasized that transparency will be central during this transitional period.
“I want to help people understand the why in all the decisions we make so we can move forward together in a positive direction,” she said.
She also noted that Commonwealth’s financial team is collaborative. “We have a very strong financial team here, and we work together. It’s an operational cycle. If one area is weaker, the others come in to help.”
For Sharpe, the next year is about listening. She hopes to visit all three campuses, connect with faculty and programs, and better understand student experiences.
“I’m used to being a CFO; it’s not that different anywhere you go,” she said. “But here I want to understand what makes Commonwealth different. I want to feel the vibe and be a part of the community.”
Despite the financial challenges ahead, she described the campus atmosphere as welcoming.
“There is a lot of warmth here, even for it being so cold out,” she said.
At a time when higher education institutions nationwide are facing uncertainty, Sharpe believes that change, while uncomfortable, can also be a positive opportunity.
If she’s right, Commonwealth’s current financial challenges may become part of a larger story about adaptation, transparency, and rebuilding stronger than before.transparency, and rebuilding stronger than before.
