2006 budget deficit

This page serves to document the events and facts regarding the university budget crisis for fiscal year 2006-07 and the events surrounding it. Please, add your knowledge by adding to it.

Contents

[edit] Facts

[edit] Regarding the general budget

  • The Board of Trustees had approved a 4-year vision investment program that would incur a $20M/year debt. At the end of the program, the university would return to a balanced budget. The revenue generated from the investment would pay off the debt.
  • For fiscal year 2005-06, there was a $17M budget deficit on top of the planned $20M
  • The endowment will not be used as a cash source

[edit] Regarding potential budget cuts

  • Student Affairs will not be cut (Provost Anderson, USG Forum)
  • Student Information System will not be cut and will go on as planned (USG Forum)
  • SOURCE will get more money (USG Forum)
  • SAGES will get more money (USG Forum)
  • Special events/lectures will not be cut (e.g. Distinguished Lecture Series, winter concert at Severance Hall) (USG Forum)
  • Student aid will not be cut (USG Forum)
  • Some amount of staff layoffs will occur (CSE Forum)

[edit] Speculation and accusations

  • Hundert's administration has engaged in a practive of "hype and hope." They hype the potential of the university and hope the revenue comes through to pay off the investment
  • Hundert's administration has been focused more on marketing rather than substance
  • SAGES was expanded too soon and without the true support of faculty
  • Financing the Vision Investment Plan was full of holes
  • Hundert has yet to reach an affiliation agreement with University Hospitals, yet has received a bonus from the Board of Trustees for doing such
  • Deans were cut out of the administration's decision to fully balance the budget for FY 2007
  • Budgetary concerns were channeled through Provost Anderson, who determined the need-to-know of all related matters.
  • Hundert was approached about going public with the budget in the fall of 2005, but was reluctant because it would generate bad press for the university

[edit] Timeline

[edit] See also

[edit] Documents

[edit] Web sites

[edit] Related Case Wiki articles

[edit] Relevant Blog entries

[edit] Relevant Case Forum threads

[edit] Case news releases

[edit] Media coverage

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This page was last modified 12:20, June 3, 2006 by Gregory Szorc.
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