SMU's Response to Tough Economic Times

[RednBlue11]

http://smu.edu/webcommunications/ecards/other/Leadership/images/PresidentLetterhead.gif

TO:


The University Community

FROM:


R. Gerald Turner, President

SUBJECT:


Strengthening SMU's response to economic conditions

DATE:


October 1, 2009


On April 3, 2009, I sent a memo to the University community detailing financial management strategies that would be implemented and remain in place until October 1, 2009. As we continue to work diligently on the 2011 budget year and beyond, we are extending these financial management strategies until November 1, 2009. At that time I will provide a more detailed update on our budget planning efforts to address the implications of the economic recession, particularly the decline in the value of the University’s endowment.

These continuing strategies are listed below.

1. The University will continue to make essential hires; however, all new and/or vacant positions must be reviewed and approved by the Provost, appropriate Vice President, or Athletic Director prior to filling or refilling. All efforts should be made to accommodate the tasks of the vacant position with current faculty or staff prior to hiring replacement or additional employees. Grant and contract funding is exempt and should be expended prior to any unrestricted funds. Graduate student recruitment will continue under current guidelines.

2. All positions currently in the recruitment process will be reviewed by the Provost, appropriate Vice President, or Athletic Director to confirm the need to continue recruitment.

3. End-of-year salary and benefit savings resulting from unfilled positions will be retained by central administration. These unfilled positions will remain permanently budgeted in their respective areas. Base budget for the following year will not be reduced as a result of unfilled positions, unless those positions are eliminated to meet subsequent budget reduction goals. Budget savings resulting from reductions other than salary and benefits will be retained by the college, school or department/division.

4. Budget revisions from salary and benefit lines will not be permitted without explicit approval on a case-by-case basis of the Provost, appropriate Vice President, or Athletic Director.

5. Any salary adjustments made outside of the normal merit process must be approved by the Provost, appropriate Vice President, or Athletic Director.

6. Travel and entertainment expenses should be carefully reviewed and reduced where possible. The necessity of attendance at professional meetings should be carefully evaluated.

7. General and administrative expenses should be carefully reviewed and reduced where possible.

8. The Provost, appropriate Vice President, or Athletic Director will ensure that there will be no negative variances to budget.

9. Restricted balances are not to be used to accommodate the reductions mentioned above or to compensate for deficit spending without prior discussion and approval from the Provost, appropriate Vice President, or Athletic Director.

10. Capital project spending will be limited to those projects currently funded as defined by policy. Additional capital projects will be undertaken when funding is available.

11. A thorough review of current expenditure authority will be undertaken by the Provost, each Vice President, or Athletic Director to ensure the most efficient utilization of our financial resources.

I appreciate the cooperation of the University community. These financial management strategies are helping us manage the University’s resources during these challenging times.

That's nice...i guess this will make it easier to pay my ridiculous tuition?

[PonyKai]

Maybe the school will stop trying to extort money from every single one of us every single time they get a chance to.

[leopold]

I heard their response was to only raise tuition 8%.....

[White Helmet]

http://smu.edu/webcommunications/ecards/other/Leadership/images/PresidentLetterhead.gif

TO:


The University Community

FROM:


R. Gerald Turner, President

SUBJECT:


Strengthening SMU's response to economic conditions

DATE:


October 1, 2009


On April 3, 2009, I sent a memo to the University community detailing financial management strategies that would be implemented and remain in place until October 1, 2009. As we continue to work diligently on the 2011 budget year and beyond, we are extending these financial management strategies until November 1, 2009. At that time I will provide a more detailed update on our budget planning efforts to address the implications of the economic recession, particularly the decline in the value of the University’s endowment.

These continuing strategies are listed below.

1. The University will continue to make essential hires; however, all new and/or vacant positions must be reviewed and approved by the Provost, appropriate Vice President, or Athletic Director prior to filling or refilling. All efforts should be made to accommodate the tasks of the vacant position with current faculty or staff prior to hiring replacement or additional employees. Grant and contract funding is exempt and should be expended prior to any unrestricted funds. Graduate student recruitment will continue under current guidelines.

2. All positions currently in the recruitment process will be reviewed by the Provost, appropriate Vice President, or Athletic Director to confirm the need to continue recruitment.

3. End-of-year salary and benefit savings resulting from unfilled positions will be retained by central administration. These unfilled positions will remain permanently budgeted in their respective areas. Base budget for the following year will not be reduced as a result of unfilled positions, unless those positions are eliminated to meet subsequent budget reduction goals. Budget savings resulting from reductions other than salary and benefits will be retained by the college, school or department/division.

4. Budget revisions from salary and benefit lines will not be permitted without explicit approval on a case-by-case basis of the Provost, appropriate Vice President, or Athletic Director.

5. Any salary adjustments made outside of the normal merit process must be approved by the Provost, appropriate Vice President, or Athletic Director.

6. Travel and entertainment expenses should be carefully reviewed and reduced where possible. The necessity of attendance at professional meetings should be carefully evaluated.

7. General and administrative expenses should be carefully reviewed and reduced where possible.

8. The Provost, appropriate Vice President, or Athletic Director will ensure that there will be no negative variances to budget.

9. Restricted balances are not to be used to accommodate the reductions mentioned above or to compensate for deficit spending without prior discussion and approval from the Provost, appropriate Vice President, or Athletic Director.

10. Capital project spending will be limited to those projects currently funded as defined by policy. Additional capital projects will be undertaken when funding is available.

11. A thorough review of current expenditure authority will be undertaken by the Provost, each Vice President, or Athletic Director to ensure the most efficient utilization of our financial resources.

I appreciate the cooperation of the University community. These financial management strategies are helping us manage the University’s resources during these challenging times.

That's nice...i guess this will make it easier to pay my ridiculous tuition?

Just get a better scholarship

[RednBlue11]

HAHA...and if pigs flew


do you know what SMU does? they lure you in with a good deal, then every year they chip away so you end up more and more in debt...i was told about that the frosh year and i didn't beleive it...but its happening