CBO Dalton to retire from Baylor
Baylor Faculty and Staff:
I wanted to share with you the news that Brett Dalton, our Chief Business Officer, has informed me of his decision to retire from Baylor University, effective June 30, 2023. After a long, impactful career in higher education, Brett and his wife Lisa are looking forward to returning to their home in the Clemson, S.C., area, where their daughter Mattie, their parents and extended family reside. Their son Stewart also just finished his sophomore year at Clemson University.
Brett was named Baylor’s Chief Business Officer in 2018, filling a new position for the University that includes financial planning, reporting and control, as well as oversight of facilities, undergraduate admissions, information technology and other areas of Baylor’s operations. He came to Baylor from Clemson, where he served for more than 20 years, including as executive vice president of finance and operations.
A testament to Brett’s strategic, steady hand is the multiple construction projects that currently dot the Baylor skyline, including the Mark and Paula Hurd Welcome Center, the Fudge Football Development Center and Collins Residence Hall. Other facility-related projects to come include expansion of the Honors College, additional residence hall renovations and the Memorial to the Enslaved.
Because of Brett’s tireless efforts during a period of enormous challenges brought upon by the COVID-19 pandemic and residual inflation, Baylor emerged from the pandemic with increased financial strength and increased liquidity. As evidence, Fitch Ratings, a global leader in credit ratings and research, upgraded our long-term bond ratings to “AA-” from “A+” last fall. Baylor was also blessed under Brett’s tenure to experience significant endowment growth – from $1.3 billion to more than $2 billion – despite the turbulent financial environment.
In the past five years, Brett has worked to restructure our institutional debt while growing our assets to $3.9 billion with operating revenues of $925.1 million against expenses of $836.5 million. He also helped launch a five-year comprehensive resource plan, which is crucial as we near the end of Give Light, the University’s first comprehensive philanthropic campaign, and the Illuminate strategic plan that fueled the University’s elevation as a Research 1 institution and as a preeminent Christian research university.
Brett has also led in the implementation of Ignite, a transformational, cloud-based system that has enhanced our financial, human resources and grants management processes. Ignite provides better, real-time financial information, and it allows us to highlight the impactful work supporting Illuminate.
I have asked Susan Anz, Deputy Chief Business Officer, and Dr. Brett Powell, Associate Vice President of Finance; to serve as our Co-Interim Chief Business Officer during this transition period. We will commence a national search for Baylor’s next Chief Business Officer in the near future.
Please join me in thanking Brett for his faithful stewardship of Baylor’s financial resources, and in wishing Brett, Lisa and their children, Mattie and Stewart, the best in the next chapter of their professional and personal journey.
Linda A. Livingstone, Ph.D.