Message from the President: 12/8/08

Dear Colleagues,

I begin by thanking you for your contributions towards helping USF respond to the current global economic turmoil. Like most colleges across America, we have been forced to make budget adjustments because of external economic forces far beyond our control. Although virtually every college faces the same challenges as USF, few have moved as proactively and collegially as we have. The University's initial efforts are complete. In response to a highly volatile economic environment, we have reduced the 2009 operating budget by approximately $11 million. It is important to recall that our strategy for weathering this storm focuses as much on revenue generation as it does on cost reduction.

The cost reductions we have put in place were realized through the selfless efforts of everyone at the University; I thank you for your cooperation and for displaying such "grace under pressure," which is Ernest Hemingway's definition of courage. Difficult times test the strength of a community; USF should be proud of its proven commitment to promote "a common good that transcends the interests of particular individuals or groups"[Core Values] as it institutes the hard measures needed to protect educational quality at a very difficult moment.

The University's Leadership Team - expanded to include faculty and staff - has decided to use part of the money saved as a "bridge fund" to provide immediate short term assistance for students and their families facing difficulties in meeting tuition payments. Please encourage students with payment challenges to contact Susan Murphy, Sr. Assoc. Dean and Director Enrollment and Financial Services, at USFcares@usfca.edu

Looking ahead, we have begun the process of constructing the 2010 budget. I once again remind you that reducing operating costs is only part of the solution to the problems posed by a shrinking economy. I am hopeful that new and innovative programs envisioned by the deans will increase overall revenue and enhance curricular offerings. Moving forward, your input remains vital, and I encourage you to share your ideas for increasing revenue and operational efficiencies at http://www.usfbrainstorm.blogspot.com/

The next important assessment of the University's financial situation will take place in mid-February when we conduct the second semester student census to determine the exact head count and student credit hours of our graduate and undergraduate population. I remain cautiously optimistic that our record number of applications for the spring semester will translate into strong enrollment numbers. For now, we can all take a deep breath and step back, knowing that we have faced a serious challenge head-on, with determination and courage.

I look forward to celebrating the holiday season with you at the faculty and staff party this Wednesday, December 10, 4 - 6 p.m. in Fromm Hall. At a time like the present, it is important for us to come together as a community and celebrate the hope and joy that characterize this season.

Sincerely,

Stephen A. Privett, SJ

President