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President Bruininks on:The Future of Higher Education Human Capital and Economic Impact Interdisciplinary Research and Innovation About the Office of the President
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Implications of the budget forecast for the University of MinnesotaMessage to students from President Robert H. Bruininks December 5, 2008 Thursday's state budget forecast is the most recent indicator that Minnesota – and thus the University – will face substantial economic challenges in the coming years. A revenue shortfall of $4.8 billion for 2010-11, plus a current state budget deficit of $426 million cannot be addressed without all publicly funded enterprises being impacted, and the University of Minnesota will have to do its share to help solve this extremely serious state budget problem. Careful planning and prudent actions have always been part of the fabric of this great University. In keeping with that tradition, our response must ensure that we collectively maintain the core strength and quality of the University and help the state regain its financial footing. Our plans necessarily change in difficult times, but our principles do not; we remain steadfast in our commitment to do all we can to maintain and enhance the University's quality and competitiveness; to compensate, support, and retain high-performing faculty and staff; to improve access and affordability for students at all levels of study; and to increase productivity by reducing costs while improving service and efficiency. We've managed our way through similar straits before—reforming health care and construction management processes, reorganizing colleges and Extension, increasing student support to record levels, and more—and we've emerged a stronger University. I have communicated with University leaders that we must do everything we can to save money and preserve that strength. While it is premature to speculate at this point how the state budget shortfall will impact tuition, we will do everything we can to keep tuition increases moderate and the cost of education affordable. We remain committed to growing scholarship support and to promoting academic success. The economic outlook remains very fluid and will continue to change between now and the next state budget forecast in February. We are making necessary adjustments to both our current and future budgets, and we are working hard to moderate the financial impact on faculty, staff, students, and their families while maintaining the quality and value of a University of Minnesota education. Sincerely, Robert H. Bruininks |
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