Former President Daniel Mark Fogel
From: Daniel Mark Fogel, President
To: UVM Campus Community
Date: December 17, 2008
Re: Update on FY 2009 State Rescission and FY 2010 Budget Targets
I am writing to provide another update to the campus community on the evolving financial picture for UVM and the associated issues we will be addressing. Since my last update on December 2nd, our anticipated budget shortfall for FY 2010 has grown from $22 million to $28 million due to new projections for reductions in our appropriation from the State of Vermont. In addition, an anticipated FY 2009 reduction from the State—beyond the rescission we received earlier this year—will necessitate at least a $3 million reduction in our current-year budget, which translates into a cut of 0.75% to General Fund accounts across the campus.
When I last addressed UVM’s Trustees at our December 5 Board meeting, I made a commitment to address our financial challenges through an open and collaborative process, and I will continue to share information as it becomes available. We have now calculated and distributed to the deans and vice presidents FY 2010 budget targets for every unit. These targets are based on budget reductions of 4.75% for academic units with further reductions based on student/faculty ratio targets will also be made in some academic units. Reductions of 6.5% will be applied to all other units. As I have noted earlier, we plan to bring our overall student/faculty ratio to our long established target of 16/1, up from its current level of just over 15/1. This target predated our current financial difficulties by several years; that we are still short of the target indicates that faculty hiring has more than kept up with growth in the UVM student body.
I want to highlight several important dates in 2009:
- January 9 – Plans for FY 2009 rescission actions due from deans and vice presidents
- January 23 – Materials and recommendations for FY 2010 budget reductions due to the President’s Office for review
- February 6 – Report to the Board of Trustees on progress for FY 2010
- February 18 – Final approved budget plans issued to units
- Late February – Notification of personnel actions
- May 22 – Board of Trustees approval of final FY 2010 budget
For those interested in examining further University budgetary information, please go to: http://www.uvm.edu/president/budgetinfo
We have also been receiving numerous questions from the UVM community, and a frequently-asked-questions site is now operational through a link to the President’s homepage at: http://www.uvm.edu/president/budgetinfo/?Page=questions.html. This Q and A process will be a rolling one, and we will attempt to aggregate and answer many of the questions we have already received, and to update the site as new questions come in.
The budget reductions we must make will be difficult, and I deeply appreciate the hard work and careful consideration that is under way to address them. I know that the deans are working actively to engage faculty and staff in the colleges and schools in discussions about the challenges we are facing. Let me again state clearly: these necessary budget reductions are required for us to protect and strengthen UVM’s future. We are taking a strategic approach to the decisions we must make with an abiding commitment to maintaining academic quality and competitive strength, and we are acting carefully and sensitively in considering the needs of individuals who may be affected.
Thanks to all for your perseverance and good work during these difficult times.
I welcome any and all thoughts, ideas, and suggestions at firstname.lastname@example.org.
I also encourage you to communicate with your dean, vice president, or other
unit supervisor with questions and concerns.
Last modified December 17 2008 03:29 PM