Spring Break
Administration seeks added funds for endowments
HAYLEY PETERSON
Issue date: 9/8/08 Section: News
The University administration petitioned Arch Foundation trustees for increased unrestricted funds and professorship endowments at a meeting Friday.
Administrators explained that unrestricted donations would enable the University to funnel money back into the budget where it is needed most, as the scope of the budget cuts unfolds.
They also encouraged professorship endowments, which are vital leveraging tools in the university-wide competition for hiring and retaining exceptional teachers.
"Public universities strive to keep coveted faculty members," said Andrew Head, the Foundation's Vice-Chair. "We are attracting brighter and brighter students and we need to keep challenging them by bringing in better faculty."
He praised the University's 75 percent retention rate this year, compared to the University of North Carolina's 69 percent retention rate.
But Arnett Mace warned that without the buying power of professorships, competing with other Universities for coveted faculty members will become increasingly difficult.
Mace is the senior vice president for academic affairs and provost. "In times when there is a downturn in the economy, it is important to retain the bright stars," he said.
Mace explained that three prestigious universities recently were competing over a UGA psychology professor, and because UGA did not have a professorship to offer her, the University lost a valuable asset to the psychology program.
Looking ahead, Mace said, "As we move out of the economic situation and have an opportunity to recruit, that will also require professorships."
Reflecting on that prospect, Head said, "Arnett has a lot of challenges and salesmanship ahead."
"A lot of these people do not want to leave here, because of the quality of life we can offer here in Athens. We can be at a financial disadvantage and still hold on to them, but it's when that gap gets too big, that we start losing them."
Tom Jackson, vice president for public affairs, addressed the board about a less urgent but equally important issue: maintaining the University's image through the budget crisis.
Administrators explained that unrestricted donations would enable the University to funnel money back into the budget where it is needed most, as the scope of the budget cuts unfolds.
They also encouraged professorship endowments, which are vital leveraging tools in the university-wide competition for hiring and retaining exceptional teachers.
"Public universities strive to keep coveted faculty members," said Andrew Head, the Foundation's Vice-Chair. "We are attracting brighter and brighter students and we need to keep challenging them by bringing in better faculty."
He praised the University's 75 percent retention rate this year, compared to the University of North Carolina's 69 percent retention rate.
But Arnett Mace warned that without the buying power of professorships, competing with other Universities for coveted faculty members will become increasingly difficult.
Mace is the senior vice president for academic affairs and provost. "In times when there is a downturn in the economy, it is important to retain the bright stars," he said.
Mace explained that three prestigious universities recently were competing over a UGA psychology professor, and because UGA did not have a professorship to offer her, the University lost a valuable asset to the psychology program.
Looking ahead, Mace said, "As we move out of the economic situation and have an opportunity to recruit, that will also require professorships."
Reflecting on that prospect, Head said, "Arnett has a lot of challenges and salesmanship ahead."
"A lot of these people do not want to leave here, because of the quality of life we can offer here in Athens. We can be at a financial disadvantage and still hold on to them, but it's when that gap gets too big, that we start losing them."
Tom Jackson, vice president for public affairs, addressed the board about a less urgent but equally important issue: maintaining the University's image through the budget crisis.
Viewing Comments 1 - 2 of 2
Fact checkers?
posted 9/08/08 @ 12:53 PM EST
Hayley, Dr. Mace is THE Provost, not "vice provost."
Kind of a big distinction, don't you think?
Suprised our schools wants more Money
posted 9/08/08 @ 3:07 PM EST
If the school wants to bring in some more money next season lets just bar ALL students from athletic events and sell tickets strictly to wealthy donors. (Continued…)
Post a Comment