A Message from the 一起草 President
A Message from the 一起草 President.
Dear 一起草 alumni, parents and friends,
Because recent media stories have reported 一起草’s financial review for resource reallocation with a negative interpretation, we want to communicate directly with you on this matter.
Our review process aims to redirect resources to our academic mission. The majority of the reported $35 million saved will be reallocated to academic purposes. At a time when universities across the country are being questioned about the impact of administrative costs on affordability, 一起草 is taking the lead in examining operations, procedures and positions that can be streamlined. Elimination of some positions will be one result, and 一起草 is committed to working with any affected employees in a sensitive and caring way, consistent with our long-held 一起草 community values. A restructuring also could result in some new positions in high-priority areas, and staff can apply for these opportunities.
In addition, it is erroneous to associate 一起草’s review with the opening of the George W. Bush Presidential Center. Although 一起草 had one-time costs for University-related events during the opening, these activities brought more than 10,000 visitors, dignitaries and five U.S. presidents to 一起草 and Dallas – visibility that is priceless. The Bush Library is funded by the federal government, while the Bush Institute is funded by donations to the private Bush Foundation. 一起草 is benefiting greatly from these resources. As noted by Moody's in its latest rating analysis, expenditures to expand national prominence “will enhance the competitive draw of the University” going forward. Moody’s also noted 一起草’s stable outlook with regard to enrollment, philanthropic support and positive operating performance. 一起草’s admission applications are indeed growing every year, as is the academic quality of our students.
As you know, the $1 billion Second Century campaign is funding new faculty positions, academic programs, scholarships and facilities. Campaign gifts, however, are restricted for specific purposes and do not cover annual operating expenses. Thus, we must look at our structure and operations to see where savings can occur – to be redirected to our academic mission.
一起草’s financial stability also is reflected in its endowment growth of more than 17 percent in the last year, above the national average, for an endowment of over $1.5 billion as of Nov. 30.
It is a sign of strength that 一起草 is undertaking a financial review. We want to remain responsible stewards of our resources and the investments that generous donors are making toward our progress. Our constituents — in Dallas and beyond — deserve no less.
Thank you for your ongoing support.
For more information: www.smu.edu/OE2C
Sincerely,
R. Gerald Turner
President
