Executive Summary

Creating a culture of stewardship and economic restraint

On October 13, as a result of the current budgetary situation in the State of Tennessee, President Stanton appointed a Task Force to plan for identified and potential state budget reductions. The Task Force was charged with developing a plan of action to address the anticipated reductions with a report due to the President by November 10. The Task Force membership included representation from the Council of Chairs, Faculty Senate, Staff Senate, and Student Government Association in addition to administrative officers of the University. The Task Force met as a group for approximately 24 hours over seven sessions in addition to small group meetings to complete this report.

The charge to the Task Force was to develop a comprehensive plan for dealing with all aspects of anticipated budgetary reductions for the remainder of this fiscal year and forward into the budget for FY 09-10 keeping in mind the current financial climate is likely to last for several years. This reduction planning was to include elements of cost reductions/efficiencies, cost elimination, cost collaboration, and sources of new revenue whenever possible.

At the initial meeting of the Task Force, the group identified principles that would guide our discussions and decision-making processes. These “First Principles” are included in the report and reflect the values of the University and preservation of our core functions.

The entire Executive Summary can be viewed as a PDF file.