[Oabs] Fw: [NKU-Students] (no subject)

[Annie Donnellon]

Hello.
For whatever it's worth, I thought you all might be interested in this e-mail detailing the progress of NKu's proposed budget reduction.
This is certainly an important issue, and I was very pleased to have learned the news that I did in regard to this matter.
Annie
----- Original Message ----- 
From: James Votruba 
To: nkuall at listserv.nku.edu ; nkustudentsall at listserv.nku.edu 
Cc: Nancy Barone ; Terry L. Mann ; Peggy Dejaco ; Denice McClelland ; Chuck Brown ; Martin Butler ; Anna Dale Pyles ; Steven Weiss 
Sent: Friday, February 13, 2009 1:59 PM
Subject: [NKU-Students] (no subject)


I am writing to update you on developments in Frankfort.  Earlier today, the Senate passed by a super majority the revenue package approved earlier this week by the House.  The result is that, rather than the 6.7% anticipated budget reduction, the reduction to postsecondary education will likely be in the 2% range.  This is good news for the university, our students, and the region.  It will avoid draconian reductions in this fiscal year although we will still have difficult choices to make.  I want to thank you for your efforts on behalf of this revenue package.  Your calls and letters made a difference.  I also want to thank our legislators who stood up on behalf of education, even in these difficult times. 

 

I want to be clear that, while the reductions in this fiscal year have been reduced, we continue to confront very challenging and uncertain times.  As I write this email, the national and global recession continues unabated.  I find very few economists who believe that the economic downturn will reverse itself in the short term.  Quite the contrary, most believe that we are not likely to see things began to improve before the fourth quarter of this year and it could be longer.  Research suggests that state revenues tend to lag economic recovery by about a year.  So, in a best case scenario, we are probably looking at another two years of budget uncertainty for public universities.  On top of this, NKU will need to cover a variety of fixed cost and operating increases that we cannot avoid. 

 

We should all be relieved that the Commonwealth has acted.  However, we also need to understand that dark clouds remain on the horizon.  Our strategy will be to maintain a conservative budget strategy, minimize financial risk, increase our budget reserves, protect our core mission, be more efficient in our work, and do everything within our power to keep tuition affordable and financial aid intact. 

 

We are a strong institution and, as I've said in previous emails, we are fully capable of meeting these challenges.  I will continue to update you when there are new developments to share.  Have a great weekend!  

 

James C. Votruba

President

Northern Kentucky University

Nunn Drive

800 Lucas Administration Center 

Highland Heights, KY 41099

Phone: 859-572-5123

Fax: 859-572-6696

 

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Please note that all e-mails directed to President James Votruba are subject to open records laws and may become public information.