Update on the College’s Budget

Below please find two emails sent out to the campus community on Oct. 22 and 23 regarding the College’s budget.

Dear Campus Community:

As you may already know, the College is making a small, mid-year budget adjustment in order to address an out-of-state enrollment shortfall.

While our incoming freshman class represents the most South Carolina students in school history and our total number of undergraduate students is stable, our current mix of resident and nonresident students presents some financial challenges.

As a result, the College’s senior leadership team has presented today to the Board of Trustees Budget and Finance Committee a budget adjustment package of $1.25 million, which represents less than 1 percent of the College’s overall operating budget.

The College’s senior leadership team worked with each division to identify places where the College could find savings and make cuts that had the least impact on our academic and student experience. Most of the adjustments (67 percent) were in personnel services, with divisions addressing the necessary adjustment by eliminating vacant positions and through reductions of operating budgets. This translates to three vacant faculty positions (including two visiting professors) and 13 vacant staff positions. These cuts do not represent a reduction in force, meaning we are not scaling down our number of current employees. The other adjustments (33 percent) were taken from operating budgets and fringe benefits.

This financial package will go to the full Board of Trustees tomorrow for approval and implementation.

Let me be clear, the College – unlike many universities across the country – does not have an enrollment problem. In fact, our number of applications remains strong, and there are many positives to champion this academic year. For example, our minority population continues to grow, representing nearly 20 percent of our undergraduate student body. We are educating the most diverse group of students at any one time in the College’s history – a fact of which we should all be proud.

I want to personally thank everyone for all their hard work in providing an extraordinary education to our students. We are the College of Charleston because of you and your many contributions.

Sincerely,

Glenn


Dear Campus Community,

Earlier today, the College of Charleston Board of Trustees passed a resolution approving a $1.25 million budget adjustment package.

Most of the adjustments were in personnel services using vacant positions. Fortunately, these cuts do not represent a reduction in force. The remainder of the adjustments were made in operating budgets and fringe benefits.

The approved budget adjustment is a strategic action that will protect our core academic mission and our unique student experience. We have gone to great lengths to preserve the quality and integrity of our academic programs. The budgetary choices made today reflect responsible fiscal governance and will enable the College to continue to meet its public mission as the state’s premier liberal arts and sciences university.

I express my sincerest gratitude to the entire campus community for working together to identify solutions to some tough challenges and your continuing efforts on behalf of our students.

Sincerely,

Greg Padgett
Chair, Board of Trustees
College of Charleston