FY09 Budget Reduction
As you know, Virginia is struggling with the effects of the national economic downturn caused by the decline in the housing market, higher gas prices, and increased energy and food costs. Last week, Governor Kaine announced that the state's revenue sources have slowed significantly, to the point that he requested a re-forecast of general fund revenue sources by the beginning of October.
In anticipation of potential budget reductions to state agencies, including higher education, I have been meeting weekly with the executive officers to consider various base budget reduction scenarios and their impact on Old Dominion University.
At this time, please know that no budget reductions are planned that would impact instruction or student employment opportunities on campus. Some vacant positions may be abolished, similar to the reductions the university had to make last fiscal year at this time.
There will be no campus-wide freeze on hiring, travel or procurement. However, some divisions may choose to curtail hiring and discretionary spending until specific budget reduction targets have been established.
If we are notified of a base budget reduction, more detailed information will be provided. If you have any cost-saving suggestions, please share them with me by e-mailing me at jbroderi@odu.edu or calling 3159. For example, the university's utility costs have increased 33 percent, so any energy-saving strategies are strongly encouraged.
Despite the bleak national and state economic news, there is a lot of good news for ODU as our fall semester begins. We recently welcomed a large group of outstanding new faculty members. We have our largest freshman class, demand for campus housing continues to grow, and overall enrollment is reaching 23,000. In addition, the new Powhatan Sports Complex opens September 13 and the Scotland House residence hall will open soon. The University Village will welcome new businesses this semester, and our new student recreation center is scheduled to open early next year.
In closing, I am committed to working with everyone on campus to continue ODU's forward progress.
Sincerely yours,
John R. Broderick
Acting President