william_lucasWith words like recession, inflation and economic meltdown floating around, the last thing a university wants to worry about is passing a budget.

Fairfield administrators have begun to meet the problem head on.

Vice President of Finance William Lucas said, ‘Without a doubt it is one of the most challenging budget years we have experienced.’

‘Most universities are experiencing increased pressure on tuition and financial aid, the broad impact of endowment investment losses and illiquidity, as well as the volatility in the debt markets,’ said Lucas.

He stated that the University was ‘very fortunate,’ to re-finance its taxes when it did last summer.

‘In order to balance the budget we are stress reallocation and reduction in expense budgets,’ he said. ‘The extent [that financial problems] will impact specific departments is more a management decision made within the University divisions.’

The University budget committee is currently looking at all aspects of next year’s budget. The committee plans to present a balanced budget to the University Board of Directors by March.

The committee is comprised of University administrators faculty, staff and one student representative, Nicole Barone ’09.

‘Father von Arx asked Jeff [Seiser] for a student representative and because of my position as Secretary of the Treasury for FUSA, Jeff nominated me,’ she said.
Barone then met with Lucas, ‘who described the process and the importance of confidentiality of information until after the budget is finalized and approved by the Board of Trustees.”

According to Barone, confidentiality is important because the budget is not yet finalized, and the release of premature figures could confusion among members of the Fairfield community.

Barone said that when the committee asked for her opinion on specific issues, she would reiterate student needs and popular concerns among her peers. Barone said a major topic of concern among many students is understanding the breakdown of their tuition dollars and how they are used throughout the institution.

‘I think that they are also concerned with whether the students receive enough benefits from the money the University spends,’ she stated.

Other areas in which students seek additional clarification’ revolved around campus activities and facilities, including the state of the RecPlex.

‘We need more treadmills,’ said Brittany Voland ’11.

Steve Bodell ’11 said that ‘upgrades and improvements on the weight room,’ are due.

Just as Lucas said that much of the change needs to be made at department levels, students had concerns about all aspects of student life:

Janet Fusco ’12 said that ‘improving bathrooms in dorms,’ has become a necessity.
Another student, Anni Shresthe ’12 said she would like to see more concerts like Girl Talk.

As for those who have specific questions, Barone said that von Arx and Lucas would be available to answer questions to students after the budget is released.

The budget is expected to be finalized and presented to the University community in late March or early April.

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