What are prospects beyond 2009-10 if the downturn continues or gets worse?
The Board of Trustees has asked us to develop planning scenarios going forward, and we have looked carefully at various contingencies. This analysis is ongoing, but decisions that have been made in the recent past have given us some reason for guarded optimism. As President Ruscio has indicated in several of his communications, the emphasis the University placed on building endowments for financial aid and in securing competitive compensation for faculty and staff has played a critically important role in the University’s ability to respond in this environment. We will continue to protect the reserve funds that have been established since 2001 and will also continue to focus on the University’s core mission.
