President’s Blog

• A campus conversation about Wheaton and the economy January 22, 2009 Ronald Crutcher

  Dear Colleagues, While the concept of spring seems terribly distant at the moment, we are well and truly on our way to warmer weather and better days. The second semester always passes quickly, and the pace of activity this year promises to pick up soon. This spring will bring many critical decision points for the [...]

  Dear Colleagues,

  While the concept of spring seems terribly distant at the moment, we are well and truly on our way to warmer weather and better days. The second semester always passes quickly, and the pace of activity this year promises to pick up soon.

  This spring will bring many critical decision points for the college, all of them complicated by the national economic recession. The issues to be addressed include how to increase the financial aid dollars in our operational budget for the next academic year, the establishment of the 2009-2010 comprehensive fee and the timing of next steps for the science center building project. And that is a highly selective and incomplete list.

  We will need the assistance of the entire campus to reach wise decisions on how to enhance Wheaton's strength in this challenging environment. With help from many members of the community, the President's Council has identified numerous spending reductions for 2009-2010 which may be critical to our success. In the coming weeks, I plan to spend time talking with students, faculty and staff about these proposals and soliciting still more suggestions.

  While these are likely to be difficult and uncomfortable discussions, I am confident in our community's ability to rise to the occasion. The Wheaton tradition is one of realizing success in doing more with less and of creativity and agility in pursuit of our goals. We can take some satisfaction in Wheaton's financial stability. Our prudent management of resources, including the utilization of net tuition revenue, several years' successes in achieving enrollment targets and successes in fundraising have made significant contributions to our current fiscal strength. Add to this our minimal level of debt and wise allocation of endowed funds, we are in an overall healthy financial situation.

  Nevertheless, the ongoing recession has already affected the college and will continue to do so. Wheaton's endowment has lost about 25 percent of its value since June 30, 2008; and fundraising progress has slowed considerably. Wheaton is not unique in this regard, of course. The last month has brought announcements from many other institutions about hiring freezes, salary freezes and more. Even now, the situation remains highly fluid. For example, it will be four months before we can accurately project the full extent of the demand for financial aid among current students as well as members of the Class of 2013.

  Increasing resources for financial aid is one of our highest priorities. As the impact of this economic crisis spreads, we must prepare to allocate more of our budget to meet the increasing financial needs of our students and their families. At the same time, we are committed to investing in quality where it matters most. To me, this means recognizing that Wheaton's educational programs depend upon our faculty and staff.

  These priorities--increasing financial aid and protecting people--will serve as guidelines for us as we move forward in considering cost reduction initiatives. It is our hope that these initiatives will serve to make Wheaton stronger, not only financially but also as a community.

  Wheaton can and will weather this economic storm. Your active support and commitment will make an enormous difference, and I will be calling on all faculty, staff and students to contribute their best thinking and energy. I will be holding open office hours in the Presidents' House on Tuesday, Feb. 3 from 10 to 11 a.m., Wednesday, Feb. 4 from 4 to 5 p.m., and Monday, February 16 from 8:30-10:00 a.m. for further discussion of these issues. I also plan to attend the first Student Government Association meeting of the semester. I look forward to working with you.

  Thanks for all that you have done, and will do, to sustain Wheaton's distinctive and transformative teaching and learning community.

  Best,
  Ron

• Priorities during the financial downturn November 17, 2008 Ronald Crutcher

  To the campus community, The past week has brought daily announcements of hiring freezes, construction postponements and other cost-saving measures at colleges and universities throughout New England and across the country. As you know, Wheaton has taken similar steps in seeking cost containment strategies and in examining employee hiring plans carefully. Uncertainty remains over how [...]

  To the campus community,

  The past week has brought daily announcements of hiring freezes, construction postponements and other cost-saving measures at colleges and universities throughout New England and across the country. As you know, Wheaton has taken similar steps in seeking cost containment strategies and in examining employee hiring plans carefully.

  Uncertainty remains over how long and severe this financial downturn will be for colleges as well as individuals. In this environment, Wheaton’s plans will continue to take shape as the true impact of the economic slump becomes clearer. The college’s response, however, will be shaped by our priorities. They are:

  ** Increasing resources for financial aid. As the impact of this economic crisis spreads, we must prepare to allocate more of our budget to meet the increasing financial needs of our students and their families.

  ** Supporting the academic mission of the college. This must begin with the recognition that the college’s quality education depends upon the faculty and staff, who deliver our programs.

  ** Strengthening our community. Wheaton’s vitality depends upon our ability to work together creatively with limited resources and with flexibility to respond to changing and challenging circumstances.

  I have been heartened by the constructive response of the community to the financial difficulties that we face. I met with the college’s senior department managers several weeks ago, and I received more than 60 suggestions for controlling costs. All of these ideas will be considered closely, and I welcome more proposals as they occur to you.

  Wheaton’s success depends upon how well we work together toward common goals. Open communication and transparent decision-making are vital to the collaboration that will be required from each of us. To that end, I will write to you again with updates on our progress, as more information becomes available.

  I would also like to invite you to come to the Presidents’ House on next Monday, November 24, at 3:30 to 5:00 P.M. for further discussion of these issues and any other matters that concern you.

  I appreciate all that you do to endow Wheaton with its distinctive and powerful teaching and learning community.

  Thanks,
  Ron

• Sound financial management for turbulent times October 13, 2008 Ronald Crutcher

  To the Wheaton community, The ongoing global financial crisis has caused turmoil throughout much of the U.S. economy and it has provoked uneasiness on many college campuses. In the past week, members of the Wheaton community have asked me whether and how Wheaton has been affected by the recent downturn in world financial markets. Happily, [...]

  To the Wheaton community,

  The ongoing global financial crisis has caused turmoil throughout much of the U.S. economy and it has provoked uneasiness on many college campuses. In the past week, members of the Wheaton community have asked me whether and how Wheaton has been affected by the recent downturn in world financial markets.

  Happily, I can report that the college’s financial situation remains strong, thanks to sound budget control and the institution’s extremely low reliance on debt financing. Nevertheless, Wheaton needs to take steps now to prepare for potential future impacts. Given the depth of the financial problems besetting our economy, we should anticipate the possibility of a substantial increase in demand on the college’s financial aid budget this spring and next year. To help our students and families, the college must prepare to allocate more resources now for scholarship support.

  Beginning today, I am directing college officers and department heads to conduct a careful review before filling open staff positions. My intention is not to institute a hiring freeze, but to ensure that hiring decisions are evaluated carefully, given the drastically changed environment. I will expect a report from the appropriate college officer before authorizing personnel searches for new or open positions.

  In addition, every department should scrutinize non-essential spending for cost-saving potential. For example, entertainment expenditures, such as catering expenses, should be eliminated or scaled back. I have already directed my own staff to reduce expenses for events that my office typically hosts, including those at the Presidents’ House. I would welcome your suggestions about other areas in which the college might realize cost savings.

  Additional cost-saving measures may be required, but acting immediately to contain spending will help to alleviate potential problems that may arise over the next year. The Board of Trustees will discuss the financial crisis and its potential affect on Wheaton at its meeting later this week, though no particular action by the Trustees is anticipated.

  In closing, I want to emphasize Wheaton’s robust financial health. We are taking action now to maintain the college’s financial stability and to ensure our students’ access to a Wheaton education in this time of ongoing economic challenge. I appreciate your support on behalf of our students and the college.

  Sincerely,
  Ron