Over the course of the 2018–19 academic year, the College has undergone a budget reset process—a hard but necessary step to a stronger financial future. The goal was simple: align expenses with revenues by reducing the operating budget by seven percent, while at the same time creating opportunities for future investment and new revenue sources. We have prioritized supporting our students through a consistently generous financial aid program, and in order to continue those offerings, we need to streamline our expenses elsewhere.
The College took a “ground up” approach to this reset process. Over the course of the year, a committee of 26 faculty and staff (the Priorities Committee) has devoted hundreds of hours to systematically wrestling through extensive market and institutional research to collaboratively imagine and vet options. Together, they determined priorities and recommendations in both academic and non-academic areas to achieve an overall budget reduction of seven percent (five percent which will be realized immediately in the 2019–20 academic year, and two percent which will be realized in the 2020–21 academic year). Because two-thirds of Gordon’s operating budget accounts is dedicated to compensation expenses, the budget reset solution inevitably required a reduction in positions. The committee’s recommendations were furthered vetted by Cabinet and ultimately approved by the President and Board of Trustees. Because of the strict parameters in place regarding personnel decisions (both legal and HR/personal privacy reasons), the College cannot disclose the names of individuals impacted; however, we are committed to caring for them during this transition process and have been able to offer generous separation benefits. Learn more about the Priorities Committee’s work ➔
August 2018: Academic Priorities Committee (APC) planning meetings, faculty workshop discussions
August 28, October 9: Faculty/Staff community meetings
Through the fall: Briefings on FY20 budget planning in faculty meetings, staff meetings and department chair meetings
January 14, 2019: Board of Trustees formally initiated the institutional welfare financial review (to be completed by May)
January 17: Faculty/Staff community meeting; Priorities Committee announced and work began
March 28: Priorities Committee recommendations presented to Cabinet
April 3–4: Provost briefed Faculty Senate on recommendations
April 11–12: Tenured faculty notifications
May 2: Tenured faculty responses sent to Cabinet
May 6: Cabinet made recommendations to President
May 7: President shared final recommendations with Board of Trustees , who approved the recommendations
May 9–10: Final faculty notifications and staff notifications
May 10 and ongoing: Campus and stakeholder communications on outcomes of planning process and plans for the future
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