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Smith enters the planning process on solid financial footing, with a balanced budget,
diversified revenue streams, a sustainable draw from the endowment, new investment
management, shifts in portfolio allocation, and projected surpluses in coming years. We
have addressed faculty and staff compensation concerns through competitive increases
in recent years, and we have built realistic assumptions into the future years of
our financial plan. After the staff reductions of two years ago, Smith’s
overall staffing levels look more in line with peer norms.
Still, challenges remain. The financial aid discount
remains the largest of our peers and reduces net student revenues; we have not yet
identified adequate funding for our full renewal and facilities needs over the next
decade and beyond; we have seen some drops in our level of philanthropic giving with
the completion of our comprehensive campaign, "This Is about Smith"; and
rapidly escalating energy costs threaten to consume the budget flexibility achieved
through the recent financial equilibrium plan.
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Setting
the Context
External trends
Admission &
financial aid
Academic program
Student life
Diversity
Financial & other
resources
Important Issues
Facing Smith
Next Steps in the
Planning Process
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