Guidelines & Principles

Creating a culture of stewardship and economic restraint

In its report, the Budget Reversion Task Force identified several actions for short term cost reduction and recommended that guidelines be developed to assist budgetary unit heads in their review of potential expenditures for appropriateness in light of the current budgetary climate. The attached guidelines for cost reductions have been developed for each cost reduction recommendation included in the report. It should be noted that these are guidelines only and are not intended as an all inclusive list, but merely to give the budgetary unit heads a reference as they determine the appropriateness of expenditures. It should also be noted that while the Budget Reversion Task Force strongly recommends these actions, it should be remembered that the overall effectiveness and success of the department or unit must be of prime importance.

The following "First Principles" were developed to guide decision making:

1. The University will be guided in the planning and implementation of its response to the current economic challenge by its established vision, mission statement and core values.
2. The University will create a culture of stewardship in all constituencies that recognizes economic environment and embraces fiscal restraint and accountability.
3. The University in a time of economic crisis will exercise every effort to communicate with transparency and full accountability to all internal and external constituencies.
4. The University will maintain and, where possible, strengthen the core academic programs relying on considerations of cost, efficiency, demand, quality and centrality to mission.
5. The University will conduct a frank assessment of all programs outside of the core academic programs with a view toward consolidation, reduction or possible elimination.
6. The University will recognize the importance of targeted budget reductions as opposed to "across the board" cuts.
7. The University will be guided in all of its deliberations by the understanding that the most valuable resource of the institution is its human resource. Reductions in force, if necessary, will be effectuated with the highest concern for the persons involved.
8. The University will explore innovative efforts to find alternatives to reductions in force where practicable.
9. In the event of any reduction in force, the University will establish meaningful outplacement efforts, and will commit to full and fair compliance with all federal and state laws and guidelines.