Post by dairishhoya on Oct 19, 2005 17:30:20 GMT -5
Here are a few resources that may be helpful:
From President DeGioia's remarks from Faculty Convocation in 2004. Here is the rest:
www3.georgetown.edu/president/speeches/jjd03232004.html
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Some quotes from his town hall meeting with faculty last year. You can read more here:
www3.georgetown.edu/president/speeches/jjd01212005.html
I am often asked how the University could be facing financial constraints when we just finished raising more than $1 billion. It is important to acknowledge a few facts of campaign math.
Much of the campaign total reflects future commitments that will be made over the course of the next five years. Of the $1 billion that we raised, we have received about 2/3 in cash at this point. The rest will be collected over the next five years.
Of the $664 million we have received so far, more than $300 million was spent over the past 8 years by all of us for current uses in each of our schools on all of our campuses, about $125 million was used to finance capital construction, and about $200 million found its way into the endowment.
This campaign made a big difference for Georgetown, endowing 62 new faculty chairs and professorships, creating 219 new scholarships, enabling us to build critical new buildings, all resources we must have if Georgetown is to compete with other elite institutions for the best students and the best faculty.
From President DeGioia's remarks from Faculty Convocation in 2004. Here is the rest:
www3.georgetown.edu/president/speeches/jjd03232004.html
* * * *
Our $680 million endowment, which was 77th in the country in the latest ranking, does not cover as much of our annual operating expenses as those of our peer institutions.
We do not have the same amount of financial flexibility to increase undergraduate enrollment, raise tuition, or issue debt as we had in the 80's. However, for reasons I will describe in a moment, we have been engaged in serious work with each of our campuses to increase our flexibility in ways I expect will enable us to respond to our challenges.
We are bringing to conclusion a costly ten-year process of repositioning our Medical Center to cope with massive changes in the health care economy. Our task is to successfully execute a strategy to achieve financial break-even at the Medical Center by FY 07.
And, we face the same economic challenges as all universities and businesses in this country, in coping with rising costs of health care and other benefits programs.
Some quotes from his town hall meeting with faculty last year. You can read more here:
www3.georgetown.edu/president/speeches/jjd01212005.html