Just months after completed mission and value statements were introduced to the campus community, the University's academic and administrative leadership is taking great strides toward making CWRU's vision a reality.

In addition to early commitments to enhance liberal arts and improve diversity, the Board of Trustees has approved a bold budget for fiscal year 2003-2004 that allocates funds to achieve strategic, vision-based objectives and move the University toward its goal of national and global leadership.

The budget, which includes planned investments in the academic medical center and undergraduate curriculum reform, totals $661 million, an 11.5 percent increase over third quarter forecasts. The plan also includes significant funding for graduate support and University centers of excellence in order to bolster research across schools.

To strengthen and communicate programmatic advances, the budget features new resources for marketing efforts, undergraduate admissions and fundraising. Capital construction projects include the first phase of residence life initiatives, initial West Quad work, continued technology infrastructure upgrades and renovation of the Animal Resource Center.

"A recurring theme in my ongoing conversations with faculty, staff, students and other members of the Case Western Reserve University community is the need for resources to support the transformation of this great University into the world's most powerful learning environment," said President Edward M. Hundert. "The Board of Trustees and other University leaders have heard and heeded this call by pledging to invest boldly—not just in the next fiscal year but over the next several years—as Case Western Reserve embarks on its envisioned path toward national and global leadership."

The overall financial plan for 2003-2004 is supported by projected growth in revenue from research income (7.5 percent over this year's forecast), graduate and professional tuition income (9.6 percent over forecast) and undergraduate tuition income (5.5 percent over forecast).

A 1 percent increase in the endowment payout will help to maintain and improve University operations, and funding also will be available from capital gifts, government grants then use of working capital reserves and bond revenue.

"At a time when financial conditions are forcing many universities to face cutbacks that negatively impact their program quality, we at Case Western Reserve University seek to continue and expand upon our distinguished history of research and education," Provost and University Vice President James W. Wagner said.

As in past years, a key part of this year's budget process included the development of strategic objectives, metrics and resource allocation plans by deans and divisions.

 

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