From: News Alert E-Memo (memofrom@Colorado.EDU)
Date: Fri Jan 16 2009 - 17:05:13 MST
Date: Fri, 16 Jan 2009 17:05:13 -0700 (MST) From: News Alert E-Memo <memofrom@Colorado.EDU> Subject: A budget update from CU-Boulder Chancellor G.P. "Bud" Peterson
TO: Boulder Campus Teaching & Research Faculty, Staff,
Deans, Directors, Dept Chairs, System Administration
FROM: Chancellor G.P. "Bud" Peterson
SENDER: Office of Media Relations and News Services
DATE: January 16, 2009
SUBJECT: A budget update from CU-Boulder Chancellor G.P. "Bud" Peterson
Not unexpectedly, Governor Ritter today announced a funding cut of $632
million from the current state budget. Higher education's share of these
cuts is targeted at $30 million, and we anticipate the likelihood of
additional state funding reductions for the 2009-2010 fiscal year to be
announced later this month. The governor has directed the Office of State
Planning and Budgeting to protect higher education funding to the extent
possible - advocacy that will be of great value to higher education as the
legislative session proceeds.
While we do not yet know precisely what CU's share of these cuts will be,
in the last round of budget reductions from 2002 to 2005, the University of
Colorado was hit with disproportionately high funding cuts from which we
have not yet fully recovered. The University's leadership will work with the
Joint Budget Committee of the Colorado legislature and the Department of
Higher Education to ensure these rounds of funding reductions will be
distributed more equitably among the various public higher education
systems. And, while we understand the need to assist the state in these
difficult economic times, we are also making a strong case that higher
education in general, and research universities in particular, are an
essential investment to assist Colorado's recovery from the recession given
our key role as an economic engine and in developing human capital.
Beginning early in the fall semester the campus began the dialogue about
preparing for the possibility of a funding reduction. That dialogue will
continue, and now be more focused, as the particulars of the financial
impacts to the Boulder campus emerge over the coming weeks. Our immediate
priority will be to do all we can to meet the obligations necessary to
complete this academic year with the least amount of disruption possible. It
is our intention to keep the campus community apprised of our efforts and
any related items that may impact the campus, our operations and our
employees. We will be sure to involve faculty, staff and student governance
groups in the discussion of how these funding reductions will be managed. In
the coming days, expect more communications from me regarding specific input
opportunities for faculty, staff and students.
I want to assure each of you that I understand what a difficult time this is
for the University. We must balance the need to continue serving our role
and mission, making progress on our strategic objectives, and assisting the
state in dealing with the tax revenue shortfall. However, the size and
continuing nature of these funding reductions indicate that difficult
funding choices will need to be made this spring that are likely to impact
some of our programs, services and operations. Our experience in the
previous decade, our long record of success in creating workplace
efficiencies, our teamwork ethic and our unity of purpose will guide us
through this difficult time. We will do all we can to preserve the
high-quality academic experience of our students, the strength of
our human resources and capital, our competitive edge in research and our
forward-looking strategic goals under Flagship 2030.
Finally, let me thank all of you for your hard work, perseverance, and
dedication to the University during this difficult, but not insurmountable,
moment in our history. I believe it will be a short moment in our long
journey toward the greatest heights of achievement in this century and
beyond.
Sincerely,
G.P. "Bud" Peterson, Chancellor
University of Colorado at Boulder
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