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Dustin Luca
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SALEM, MASS. – When Karen House arrived at TVƵ in 2014, she knew she was stepping into a complex financial environment. What she didn’t expect was how deeply she would come to care for and appreciate both the campus and the city that surrounds it.
“I was focused on the professional role when I accepted the job,” she said. “What I didn’t count on is what a wonderful place Salem is. That was a happy surprise for me.”
Now, after more than a decade as Salem State’s vice president for finance and facilities—and more than 35 years in public higher education overall—House is retiring, leaving behind a stronger, more transparent, and more resilient university.
House’s influence at Salem State extends far beyond spreadsheets and ledger books. She is credited with transforming how the university manages its financial resources and physical infrastructure, bringing in modern tools, collaborative approaches, and long-term thinking that helped Salem State navigate major challenges like the COVID-19 pandemic.
“Karen’s tenure has been defined by transformation,” said university President John Keenan, at a recent retirement celebration honoring House and several other colleagues. “Her financial and budgetary leadership has been instrumental in navigating complex fiscal challenges, providing a sense of security for everyone on campus.”
A Career of Integrity and Invention
House’s path to higher education wasn’t exactly planned. A CPA, she started her career in the insurance industry, specializing in internal auditing and financial reporting. Also raising a young family at the time, House discovered an opening in the budget and planning office of St. Mary’s College of Maryland, applied for it, and landed it. Within weeks, she was asked to serve as interim controller.
From those early days, learning the intricacies of higher education accounting on the fly, House advanced through increasingly senior roles, eventually serving as associate vice president for business affairs at St. Mary’s, and then spending nearly 15 years at Keene State College in New Hampshire. There, she oversaw the campus’ implementation of a massive overhaul of outdated financial systems and delivered a strategic budget model that she would later bring to Salem State: the all-funds budget.
In higher education, an all-funds budget integrates all sources of university revenue and expenditures—state funding, student-driven revenues, grants, capital funds and more—into a single, cohesive financial plan. It’s a far cry from the siloed approach many institutions were then using. All funds budgeting is more strategic and allows the university to focus on its key goals using all available resources regardless of source. Through the all-funds budget, institutions get a full picture of resources, helping them make intentional, transparent decisions about where to invest and how to prepare for the future.
Innovation Under Pressure
House’s impact at Salem State became even more visible during the COVID-19 pandemic, when she played a central role in guiding the university’s financial response while helping to shape its public health strategy. Notably, Salem State created a faculty-led advisory group made up of experts in nursing, psychology, history, and economics who collaborated with administrators in health, safety, finance, communications, and human resources—a move House said set the university apart.
But perhaps House’s most lasting legacy will be how she designed the financing structure for the university’s ambitious SSU BOLD campus transformation project—a feat that was achieved in 2025 without raising student tuition or fees to cover it.
That accomplishment was the culmination of years of behind-the-scenes work, modeling, and even forecasting hardship scenarios to be prepared for worst-case scenarios. House initiated a campus-wide debt study in her early years at Salem State, brought in external advisors, and used innovative financial modeling—including most recently artificial intelligence—to find a solution. The plan she created uses investment income to cover Salem State’s share of debt service for construction costs, preserving university cash reserves and student affordability while allowing the significant project to move forward.
“It’s extremely satisfying and gratifying that Salem State will be able to hold onto those investments for the long-term benefit of the university, kicking off enough investment income to pay the debt service without raising student fees,” House said. “It feels like a win-win.”
A Legacy of Collaboration
House frequently points out that her work has always been collaborative, and her successes were never just her own.
“Part of it is working with very dedicated and creative people that persist in overcoming challenges, because the mission is so important,” House said. “Working with the leadership teams I’ve been privileged to work with over the course of my career—including my own team at Salem State—and having their knowledge, expertise, and support has been very important, invaluable. The success of the team is the whole team’s.”
That philosophy, paired with her strategic acumen, has made a lasting impression on Salem State’s leadership.
“Karen has been a pillar of strength and expertise since we both arrived at Salem State in 2014,” Keenan said at the recent retirement celebration. “Under her leadership, our fiscal management and budgeting process have become models for transparency.”
As House enters retirement, she has pledged to remain involved in support of Sallyann Lopez, senior director of budget and continuous improvement, who has been appointed to the vice-presidential position on an interim basis.
“Karen is leaving Salem State in a stronger position than when she arrived. While her departure leaves a significant void, we are deeply grateful for the time she has given us to ensure a smooth transition,” Keenan said. “I want to express my deepest gratitude to Vice President House for her invaluable contributions over the past decade. It has truly been an honor to work alongside her.”