Oct. 10, 2008

University acts to meet economic challenges

Dear Faculty, Staff, Students and Friends:

The effects of the financial crisis are reverberating from the sidewalks of Wall Street to the classrooms, labs and offices on all our campuses. As I make my rounds, it's obvious that the state of the economy is on everyone's mind as we all--faculty, staff, and students--go about our work of teaching, learning, and conducting research, thus fulfilling the mission of our university.

These financial difficulties, while extremely challenging, also present a bold opportunity to examine our strengths and become a more efficient, more effective university to serve our students, as well as all the citizens of South Carolina and the nation. We are looking beyond budget cuts and moving forward strategically to become a stronger, more focused university.

The university and all state agencies already have faced two rounds of budget cuts since the fiscal year began in July. Last week, the Bureau of Economic Advisors revised the forecast of the state's revenues downward, meaning the university is facing substantial cuts in the near future.

In addition to a high-level team of financial experts from the university's administration, deans and campus leaders and their staffs are engaged in planning efforts. On October 21st the financial officers from the University's campuses around the state will meet in Columbia to address the situation as we must ... as a family, to share ideas and learn from one another. While cuts will not be applied across the board, they will be felt across our campuses.

As we look to sculpting a stronger University of South Carolina, we must maintain the quality of a Carolina education, always keeping in mind that our students are our No. 1 priority. We must hold the line on tuition costs, if we can, since, as the state's flagship university, we must remain affordable and accessible to all of the state's citizens. We must also preserve our excellent environment for scholarship, creativity, and innovation, and we must continue to grow as a premier destination, recognized by faculty, staff and students as a first-rate place to pursue your dreams.

Most importantly, we must preserve the vital contributions that this great University has made to South Carolina for more than two centuries while finding new ways to enhance the state's future.

On August 1, my first day as Carolina's 28th president, we inaugurated Focus Carolina, the most comprehensive strategic plan ever undertaken in the University's history. The financial challenges that we must confront dovetail with that plan but the crisis requires that we accelerate our planning. Focus Carolina will look at every aspect, not just through a financial lens, of the university and ensure that our many strengths are preserved and that we have, or can acquire, the resources to flourish.

I understand your anxieties, and this letter is the first that I will send to keep you informed on how the University of South Carolina is dealing with budget realities. As specific decisions are made about the University's economic future, I will let you know the strategic course that we, with your help, will take to carry Carolina beyond the current crisis and into a bright future.

Sincerely,

Harris Pastides
President, University of South Carolina