|David E. Van Zandt, President|
May 14, 2012
As summer approaches, I ask you to put this academic year in perspective and reflect on a new climate for higher education at The New School and elsewhere. Colleges and universities can no longer take their role for granted, but must demonstrate value in an environment that looks closely at scholarship, scrutinizes costs, and asks new questions about the ultimate purpose of a college degree. Because The New School has often been an institution in transition, we are more alert to the future of higher education than many of our peers. In collaboration with faculty, we are devising academic models and programs attentive to changing careers, and learning how the delivery of an education must adapt to meet them.
Throughout the semester, you learned in messages to the community and at multiple town halls that we are changing the university's financial structure to avoid relying on rapid enrollment and tuition increases. We reduced expenses for the upcoming year by approximately $8 million on an overall budget of approximately $330 million. As I described in my March 8 message, reductions were structured to preserve academic services and student support, with substantial cuts to administrative departments and a reorganization of the president and provost's office that saved more than $2.5 million dollars. I am aware that this situation will require additional sacrifices. In a time of belt tightening, Provost Tim Marshall and I have both personally decided to reduce our base salaries by 5% for the coming year.
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