The College's Board of Trustees has approved a 1996-97 budget that President Hull says is designed to enhance the excellence of the College while recognizing the
financial pressures affecting not only the institution, but students and their families.
The $70.4 million budget represents a 3.5 percent increase over the current year.
The 1996-97 budget, which the president discussed at last week's faculty meeting, reflects the College's commitment to a number of priorities:
- An increase in tuition and other costs that is only about one percent over inflation. The total for tuition, room and board, and fees will be $27,325, a 4.3 percent increase over this year;
- A continuing commitment to meet the financial aid of accepted students. The budget calls for a $610,000 increase in the College's financial aid budget, to $14.4 million — 8.3 percent more than what will be spent this year;
- Enhancing faculty salaries, which have not kept pace with salaries at a number of similar institutions. Included in next year's budget is a 3.25 percent increase in the faculty salary pool, $25,000 for the faculty merit program, $297,000 from tirements, and $20,000 for endowed chair holders.
- A continuing commitment to international education, with $175,000 to augment Terms Abroad offerings and $50,000 for the development of an English as a Second Language (ESL) program on a two-year trial basis;
- A continued commitment to both the “no layoffs for financial reasons” policy and the need to restructure the institution. The College's staff realignment plan involves a case-by-case review of positions as they become vacant. Administrative restructuring efforts that will save $390,000 next year include the elimination of the director of administrative services position and a staff support position in the Finance Office; the elimination of the positions of director of campus planning and head of energy management and further restructuring of other staff members; the elimination of the associate dean of graduate studies position, with the individual moving to College Relations; the moving to College Relations and reorganizing of the Office of Conferences and Scheduling; and the elimination of two secretarial positions yet to be identified.
A significant commitment to facilities renewal with the addition of $600,000 for a continuing program to address facilities renewal.
The Trustees also:
- Elected the following officers for the year: Joseph M. Hinchey '47, chairman; Robert F. Cummings, Jr. '71, vice chairman; Norton H. Reamer '58, secretary; David B. Chapnick '59, general counsel; and Patricia Tappa, assistant secretary.
- Approved tenure for Frank Wicks, associate professor of mechanical engineering, and approved tenurability for Alan Bowman of the Graduate Management Institute, Daniel Burns of psychology, Andrew Feffer of history, and Suthathip Yaisawarng of economics.
- Heard that the number of applications for admissions was approaching last year's record-breaking number.