UNIVERSITY OF SAN DIEGO / Summer 2009
[priorities]
Looking Forward
An update on the university’s financial condition

image1

R

emaining optimistic during times of economic constraint and uncertainty can be a challenge, particularlywhen their impact on people and programs cannot be fully anticipated. USD has persevered and prospered despite serious challenges throughout its history because of the talent, creativity, hard work and cooperation of the truly dedicated faculty, administrators and staff who are among our institution’s greatest resources.

To thrive during these times, it is important to keep current challenges in perspective; USD’s spring enrollmentsare normal and undergraduate applications for next fall are up slightly. In addition, we are currently able to maintain our present level of financial aid commitments to our students. Also, unlike many other universities, we are not considering personnel reductions at this time.

The university’s 2009-2010 budget has been formally approved by our trustees to include our primary commitments to financial aid, infrastructure renewal, sustaining faculty and staff levels, and academic program support. The trustees also reviewed our budget projections for the remainder of the current fiscal year. They endorsed ourcall for fiscal restraint and acknowledged that uninterrupted academic programs and student services remain our first institutional priority.

Consistent with our core values, we are foremost concerned about the well-being of the people in our university community. As we manage our way through this economic downturn, our overriding objective is to encourage and support our students and their families as members of our university family, and to reassure our faculty and staff in their roles vital to our institutional mission.

In response to the growing needs of our students and their families who face job losses and other devastating economic circumstances, we have increased the current budget for student financial aid hardship appeals. We also are increasing our financial aid programs for our neediest students in 2009-2010. I want to assure you that USD’s leadership is continually monitoring our critical economic indicators and is prepared to help us manage through these tumultuous times. I remain grateful for the encouragement and support that our students’ parents, our loyal alumni, our faithful donors and many other friends have shown our university. The University of San Diego is a special place because of all of the people associated with it. I know that together, we can creatively use our collective energies to address the challenges ahead. Working together and relying on our faith and values to guide us, I am confident that USD will navigate the white water of these difficult times and emerge on course as an even stronger, more resilient university.

Mary E. Lyons, President