2008 Woodie Awards
Drew confronts deficit year
Anna Sohn
Issue date: 2/22/08 Section: News
Nothing signals change like the sight of a new residence hall rising from the dirt, but a transition of the financial variety is quietly unfolding at Drew University as well. Due to low retention rates in the College of Liberal Arts and low enrollment in the Theological School, the administration announced a budget deficit that will elicit budget cuts and a stricter financial plan for next year.
In order to compensate for the gap, Vice President of Finance and Business Affairs Howard Buxbaum,, is working with departments across the school to reduce expenditure. "This current budget year, we had problems with retention, which impacted our tuition and board revenue," he said. "We are a somewhat tuition-dependent school and it created a budget gap of about three percent."
In the CLA, a 10 percent budget cut is currently being planned in cooperation with planners at each department. "Ten percent is a target only. We won't necessarily cut that [much]," said Buxbaum. "We've asked departments to look at their budgets and see where they can be more cost-effective in non-academic areas. This might include steps like sending newsletters online instead of mailing paper copies."
In the Theological School, efforts will be made to increase enrollment of students in September.
Hiring is expected to come to a standstill. "We'll probably keep some positions vacant, like support staff," Buxbaum said. "For example, some IT positions may not be filled, but it won't affect frontline academic positions. These changes won't directly affect the student experience nor have an impact on the classroom."
President Bob Weisbuch agreed, citing students as a top priority in the decision-making process. "Our rule is that nothing we do can negatively affect students," he said. "Faculty ratio will stay the same. You will not see fewer classes or professors. The goal is to make these cuts in a way that you don't even notice them."
As a Professor of English, Geraldine Smith-Wright's thoughts mirrored those of many instructors. "Budget cuts are part of the reality of any institution," she said. "I hope that they'll be carefully prioritized so students don't feel the impact. I also hope the budget cuts will point us to more solid fiscal ground."
In order to compensate for the gap, Vice President of Finance and Business Affairs Howard Buxbaum,, is working with departments across the school to reduce expenditure. "This current budget year, we had problems with retention, which impacted our tuition and board revenue," he said. "We are a somewhat tuition-dependent school and it created a budget gap of about three percent."
In the CLA, a 10 percent budget cut is currently being planned in cooperation with planners at each department. "Ten percent is a target only. We won't necessarily cut that [much]," said Buxbaum. "We've asked departments to look at their budgets and see where they can be more cost-effective in non-academic areas. This might include steps like sending newsletters online instead of mailing paper copies."
In the Theological School, efforts will be made to increase enrollment of students in September.
Hiring is expected to come to a standstill. "We'll probably keep some positions vacant, like support staff," Buxbaum said. "For example, some IT positions may not be filled, but it won't affect frontline academic positions. These changes won't directly affect the student experience nor have an impact on the classroom."
President Bob Weisbuch agreed, citing students as a top priority in the decision-making process. "Our rule is that nothing we do can negatively affect students," he said. "Faculty ratio will stay the same. You will not see fewer classes or professors. The goal is to make these cuts in a way that you don't even notice them."
As a Professor of English, Geraldine Smith-Wright's thoughts mirrored those of many instructors. "Budget cuts are part of the reality of any institution," she said. "I hope that they'll be carefully prioritized so students don't feel the impact. I also hope the budget cuts will point us to more solid fiscal ground."
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