December 17, 2008
Dear Colleagues,
As all of you are well aware, our nation and our state are confronting a harsh economic climate. Earlier this week the Revenue Estimating Committee projected a $341 million shortfall for the remainder of this fiscal year and a $1 billion shortfall for each of the next two fiscal years. This information was recently received by the state; therefore, we do not know the full extent of the cuts for higher education or ULM for this year or future years. We were informed however that we, as well as other schools, should expect a significant mid-year cut. I will keep you informed of the magnitude of the cuts as soon as the University of Louisiana System finalizes that information.
ULM is working with the system staff to determine how our university will absorb the projected deficit while maintaining the academic integrity of the institution. ULM’s Cabinet met earlier this week to address the projected deficit, and I am in constant contact with the System Office. Provost Richters also met with the deans and will continue those meetings until we break for Christmas. The Cabinet, many of whom are experienced in tackling financial challenges, will be working on this issue during the holiday break.
We will frame the situation, look at the repercussions of various strategies, and plan the involvement of the Strategic Resource Allocation Committee and the College and Administrative Budget Committees upon our return January 5th. We are also planning to change the schedule for University Week so that the budget committees can immediately address this situation upon your return to campus. While we may be required to submit broad strategic plans to the System Office, we will only act once we are advised by the budget committees. The budget structure was established just for this purpose and the experience gained in the budget process over the last three years will be invaluable during the next few months and in the next year.
It is reported that during the Great Depression, Thomas Edison delivered his last public message. In it he said, “My message to you is: Be courageous! I have lived a long time. I have seen history repeat itself again and again. I have seen many depressions in business. Always America has come out stronger and more prosperous. Be as brave as your fathers before you. Have faith! Go forward!”
Therefore I encourage each of you to have faith and courage in the face of an uncertain future. Courage starts internally before it is displayed externally. We faced issues like this a few years ago and just like before we will not only persevere, we will prevail. Knowing this I ask you to relax, rest, and spend time with your families and friends and enjoy the holiday season.
James E. Cofer, Sr.
ULM President