University tackles budget shortfall

In response to a budget shortfall this year, Franklin Pierce University has adjusted spending and is focusing on creating a more efficient budget process.

The budget shortfall was caused by an overall lower enrollment than predicted by the university. Since Franklin Pierce is largely reliant on tuition for its budget, the lower enrollment and retention greatly affected the university.

After the issue arose, Birge spoke at a town hall meeting and created an ad hoc working group to brainstorm solutions. The group, which included staff and faculty members, went over the situation and provided input and solutions to resolve it.

Birge said that one of the major problems this year is that they can no longer rely on past mathematical models to determine enrollment due to the unstable economy. The unreliable data and a larger "summer melt," meaning students who decide not to attend the university towards the end of summer, rendered the projections insufficient. This year's budget was approved this summer by the Board of Trustees.

"We all need to be more conscious about spending and leveraging cost efficiencies wherever possible," said Birge in a recent address to faculty and staff. Birge said that there are currently no reductions in positions, pension, or healthcare benefits.

Budget problems are not uncommon in higher education right now due to the growing financial problem in the country. Jim Earle, Vice President of Student Affairs, said that although private universities are being hit the hardest, every institution is hurting financially.

"The economy has affected everything and everyone. Nobody can escape this," said Earle, noting that the issues are "hitting different places in different ways."

The new university president said that the reductions will not affect the student experience on campus. In order to work towards a more balanced budget, Birge is planning on involving students and faculty in the budgeting process. The budget has primarily been a job for the financial department and senior staff, yet Birge is looking to involve more members of the school community because it is a model he is familiar with.

The new, broader budget committee will be worked on as the budgeting process begins. Birge is planning to rely on senior staff to choose the budget committee that will help shape next year's budget.

Birge is confident that the university can work through these problems and strengthen Franklin Pierce's competitiveness amongst other institutions. "I believe strongly that the high quality education Franklin Pierce University provides in the College at Rindge and the College of Graduate and Professional Studies will see us through the challenging budget issues," said Birge.

According to President James Birge, the $1.3 million budget shortfall was balanced out by reducing funds in the operating budget. These items include expenses for travel, food orders for events, and equipment such as computers and software. The school's overall operating budget is approximately $50 million.

The budget shortfall was caused by an overall lower enrollment than predicted by the university. Since Franklin Pierce is largely reliant on tuition for its budget, the lower enrollment and retention greatly affected the university.

After the issue arose, Birge spoke at a town hall meeting and created an ad hoc working group to brainstorm solutions. The group, which included staff and faculty members, went over the situation and provided input and solutions to resolve it.

Birge said that one of the major problems this year is that they can no longer rely on past mathematical models to determine enrollment due to the unstable economy. The unreliable data and a larger "summer melt," meaning students who decide not to attend the university towards the end of summer, rendered the projections insufficient. This year's budget was approved this summer by the Board of Trustees.

"We all need to be more conscious about spending and leveraging cost efficiencies wherever possible," said Birge in a recent address to faculty and staff. Birge said that there are currently no reductions in positions, pension, or healthcare benefits.

Budget problems are not uncommon in higher education right now due to the growing financial problem in the country. Jim Earle, Vice President of Student Affairs, said that although private universities are being hit the hardest, every institution is hurting financially.

"The economy has affected everything and everyone. Nobody can escape this," said Earle, noting that the issues are "hitting different places in different ways."

The new university president said that the reductions will not affect the student experience on campus. In order to work towards a more balanced budget, Birge is planning on involving students and faculty in the budgeting process. The budget has primarily been a job for the financial department and senior staff, yet Birge is looking to involve more members of the school community because it is a model he is familiar with.

The new, broader budget committee will be worked on as the budgeting process begins. Birge is planning to rely on senior staff to choose the budget committee that will help shape next year's budget.

Birge is confident that the university can work through these problems and strengthen Franklin Pierce's competitiveness amongst other institutions. "I believe strongly that the high quality education Franklin Pierce University provides in the College at Rindge and the College of Graduate and Professional Studies will see us through the challenging budget issues," said Birge.

According to President James Birge, the $1.3 million budget shortfall was balanced out by reducing funds in the operating budget. These items include expenses for travel, food orders for events, and equipment such as computers and software. The school's overall operating budget is approximately $50 million.