December 4, 2002
Dear Colleagues,
As I promised you last week, included in this letter are the addresses for the Executive Summary of the report to SACS and the Quarterly Financial Report. This summary, as well as a large number of supporting documents, including the latest unqualified audit, will be discussed by the Executive Committee of the Commission on Colleges during the SACS/COC Annual Meeting in San Antonio, Texas, December 7-10, 2002. It is my understanding that their decision will be made public during or shortly after the Annual Meeting. While I would love to tell all of you personally of the decision, I am sure you will read a news story before we return from the meeting.
The Quarterly Financial Report can be found at www.ulm.edu/03budg/2003.html. You will note that this site also includes the Fourth Quarter Report from last fiscal year. We plan to continue to add the quarterly reports to this site so that you can see how the revenues and expenditures evolve over the entire year. The report contains some good news. As you remember, we budgeted a 10% decline in student tuition but realized only a decline of less than 7% this fall. This means we colleted approximately $400,000 more than budgeted so far this year. In addition, because we have been very careful with our expenditures we are currently under budget in expenditures by approximately $300,000. If the spring semester enrollment is as promising as the applications indicate, we should end the year in a more stable fiscal condition. We will keep you informed as the semester progresses.
I will be in Baton Rouge at the Board of Supervisors meeting the rest of this week and San Antonio for the SACS/COC Annual Meeting the first of next week. Many of you will be off campus when I return, and I want to thank everyone for your hard work these past few months. You made the difference in the progress this institution has made with our students, our legislative delegation, the community, and the state. The rebirth of ULM is now being discussed not only in Monroe, but in Baton Rouge, New Orleans and beyond. Our job next year is to continue the momentum. Deborah and I look forward to working with all of you during the coming years.
James E. Cofer, Sr.
ULM President