Universities face multiple challenges, with new ones popping up with alarming regularity. The number of high school graduates will drop significantly over the next decade, threatening enrollment numbers at colleges nationwide. The Western Interstate Commission for Higher Education projects a 3.1% decline in high school graduates by 2030 compared to 2023 levels. The outlook becomes more severe by 2041, with an expected 3.4 million graduates — a 10.5% drop from 2023 and 13% fewer students than 2024. Meanwhile, online education providers continue to attract students who might have traditionally attended physical campuses.
While many universities brace for these enrollment challenges, Boise State University stands as Idaho’s largest university under Alicia Estey’s financial stewardship as the chief financial and operating officer. Her fiscal management and strategic planning approach help safeguard the institution’s long-term stability in Idaho’s growing Treasure Valley region.
“We are pretty fortunate in that we have not seen any precipitous enrollment declines. In fact, we haven’t had any enrollment declines,” Estey notes. “We’re in an area that’s growing in population. We have a solid track record. Our graduation rates are increasing.”
The university’s stability stems from its careful investment strategies. It scrutinizes spending patterns to maximize returns on investment while maintaining conservative fiscal policies. According to Boise State University President Marlene Tromp, “Boise State is one of the most efficient and effective universities in the country. We provide an outstanding educational experience for our students while remaining fiscally responsible. We also have made investments that advance research, community partnerships, and more.”
Alicia Estey: An Architecture of Financial Recovery
When Boise State University identified a $15 million structural deficit, Alicia Estey chose collaboration over unilateral action. “I knew that this would not work if it was a top-down decision,” she explains. “I knew that I had to engage the people who this would impact the most and work with them to come up with a solution.”
The resulting 2.5% reduction across departments eliminated the deficit while maintaining essential services. The Idaho Business Review recognized this approach to resolving this financial challenge, honoring Alicia Estey with its Excellence in Finance award. The annual statewide program celebrates outstanding performance in leadership, mentorship, and community service in banking, corporate investment, education, and professional sectors.
Today, Estey oversees a $743 million budget that spans 37 campus units and includes $200 million in capital projects.
Building Institutional Strength Through Relationships
The true test of institutional resilience arrived with COVID-19. Alicia Estey’s unconventional background — combining public health, law, and accountancy degrees — positioned her to lead Boise State University’s pandemic response. She established testing facilities and safety protocols that kept the university operational when many campuses remained closed.
“We focused on freshmen and seniors because we felt like those were the most important groups that needed to be here for face-to-face instruction,” Estey explains. “We made it so that we knew where every student sat every day. We de-densified all of our classes, so we only had about 50% of the students in face-to-face classes. We had a very complex contact tracing system.”
The university converted a residence hall into an infirmary for isolation and quarantine needs. This comprehensive approach enabled 50% of students to return for face-to-face instruction in fall 2020.
Campus Appeal Drives Enrollment Stability
While many universities struggle with enrollment challenges, Boise State University leverages its unique location and sustainable campus design to attract students. Its integration with Boise’s extensive trail system and bike-friendly infrastructure offers students an outdoor friendly lifestyle.
The campus connects directly to the 26-mile Boise River Greenbelt, a paved pathway system that provides students car-free access to downtown Boise, cultural attractions, and recreational areas. This infrastructure supports both academic commuting and leisure activities, from accessing downtown internship opportunities to weekend paddleboarding at Quinn’s Pond.
The university’s location in Idaho’s rapidly developing Treasure Valley, combined with its accessible campus design, creates practical advantages for student recruitment. The campus layout encourages sustainable transportation choices. Students can bike from classroom buildings to the Idaho State Capitol in minutes via dedicated lanes on Capital Boulevard, accessing professional opportunities in state government and downtown businesses. Cultural destinations, including the Boise Art Museum, Zoo Boise, and the Anne Frank Human Rights Memorial, lie within a short ride of campus housing. The bike-friendly campus design reduces student transportation costs while supporting institutional sustainability goals.
From Campus Policy to Community Leadership
Alicia Estey’s 18-year journey at Boise State reflects steady progression through increasing responsibility. Starting in finance policy, she advanced through regulatory compliance and tax roles before reaching her current position.
“About every two years, I take on more responsibility,” she shares. “I started in finance in a policy role. I was the liaison to the state Board of Education and then just continued to take on more and more.”
Estey’s impact extends beyond campus boundaries. In 2018 she was elected to serve as a Boise School District trustee and co-leads the university’s Gorongosa Pre-K project in Mozambique. These roles reflect her emphasis on relationship-building and transparency in leadership.
“Relationships are the key to success for any leader,” Estey says. “Having strong relationships, being transparent with people, being very forthright. Put all the cards on the table and say, ’We need to come up with a solution together.’”
According to Estey, prioritizing is an essential skill for a leader. “I’m really flexible, which helps. I’m not at all rigid, and so that makes it easy for me to take one hat off and put a different one on. Prioritization is tricky, though, because there are a lot of different areas that need my attention,” she explains.
“I’m always working on building and developing my own skills so I have an understanding of the subject matter that I can rely upon when I’m having conversations with staff. It’s important for me to understand the areas I supervise. I don’t have to be an expert but need to understand what’s important to them and what’s important to campus and our community so that I can make sure that we’re functioning optimally and meeting everyone’s needs.”
She continues, “I sometimes need to remind staff that we don’t exist to serve our own ends. We are here to support students and faculty. And so even though we may think a function could be performed a different way, if that’s not what is going to best serve students and faculty, then we need to be focused on that and not what might be easiest or most efficient for us. It’s really about service to others. It’s about having good relationships. I’m very collaborative, but at the same time, I’m not afraid to make a decision.”
