Chair William Branch opened the March 18 Faculty
Council meeting by reminding members of the council’s special
open meeting on March 20 with President Jimmy Carter (see
Interim Provost Woody Hunter then presented the latest projections
from the Ways and Means Committee for endowment revenue and expenditures
in the next several years. The national economic recession has lasted
longer than budget officers previously anticipated, Hunter said,
and this necessitated some recalculations of endowment payout.
The news was sobering. Assuming a 13 percent reduction in total
endowment market value for the rest of fiscal year 2003 (which was
the drop current on Feb. 28), then 6 percent increases in market
value each year through FY07, total declines in endowment payouts—including
both restricted and unrestricted funds—will total some $7.3
million in FY04, $21.5 million in FY05, $32 million in FY06 and
$26 million in FY07.
These hits will be counterbalanced somewhat by internal cost-containment
strategies, reallocation of unrestricted endowment income and modest
revenue increases from tuition and indirect cost recovery, but Hunter
said the University still has some distance to travel in weathering
the current economic storm.
“We will navigate these waters just fine,” President
Bill Chace assured the council. “In fact, when this troublesome
weather is over, the facilities we’ve been able to achieve
over the past 10 years will give us some measure of security which
other institutions won’t have.”
Bruce Knauft announced that a date and time had been finalized for
the “Classroom on the Quad” event: Wednesday, March
26, from 1–3:30 p.m. Knauft passed out flyers that listed
no fewer than 20 speakers scheduled to make brief remarks during
the event, which has been formally endorsed by Chace, Hunter and
all the University deans (see
Chace expressed his sincere appreciation and admiration for the
work done by council members Knauft and Jim Grimsley, and by Campus
Life’s Donna Wong, in planning Classroom on the Quad. “It’s
been incredibly gratifying, almost unprecedented in my experience,”
Next, by a 9–0 vote, council members passed a set of bylaw
changes proposed by Frank Vandall. The changes mostly clarified
the bylaws’ language, but one signficant change was, in the
event the University president declines to pass along the council’s
recommendation to the Board of Trustees, successfully appealing
the president’s decision now will require a simple majority
instead of a two-thirds majority. Since the council and University
Senate are formally advisory bodies, such an appeal would simply
inform the board of a viewpoint that differs from the president’s.
Branch then updated the council on the status of the creation of
several committees approved at previous meetings. Branch said he
submitted a list of 10 names to Board of Trustees Chair Ben Johnson
for consideration for a faculty advisory body to the presidential
search committee. Johnson indicated he will pick five of those names,
Branch said, and another six representatives from other faculty
Last fall Johnson indicated he was open to including faculty members
on each of the board’s seven major committees, and to that
end Branch said he has submitted a list of 28 names, with the hope
that each committee will get two faculty representatives.
Finally, Branch proposed that the ad hoc “Future of the University”
committee, designed to bring various advisory duties under a single
umbrella group, be drawn initially from that list of 28 names. The
group would function mostly through subcommittees, Branch said,
meeting in full only a few times per year.
Reporting for an ad hoc committee on communications, Sharon Strocchia
said faculty moderators will be added to the various faculty e-mail
listservs beginning Aug. 1.
The final Faculty Council meeting of 2003–04 will be held
April 15 at 3:15 in 400 Administration.
have a question or concern for Faculty Council, e-mail chair William
Branch at email@example.com.