The semi-annual town meetingwas held yesterday in DCC 308, with President Shirley Ann Jackson speaking for approximately an hour before opening the floor for questions. She spoke about several topics including the 2007 fiscal year budget, challenges facing Rensselaer, progress of the capital campaign, tuition increases, and the commencement speaker.
President Jackson started the event by speaking about her meeting earlier that day with students at the Student Senate’s Pizza with the President event. She mentioned how she greatly enjoyed those meetings. Speaking to students made her proud of their dedication and commitment to making the Rensselaer experience the best possible.
She continued by stating that in the past few years since her appointment as President, she has led Rensselaer through growth during a troubed economy and changing global environment. Despite these hurdles, RPI has continued to follow The Rensselaer Plan, the roadmap for the Institute. New faculty members have been hired, resulting in a better faculty-to-student ratio. The Biotechnology Center has been built, construction on the EMPAC building has started, student learning and living has improved, and research expenditure has increased, Jackson noted.
She also described the progress of the Capital Campaign. Thus far the campaign, which is being led by alumni, faculty members, and trustees, has raised $666 million. This money has been allocated to increase scholarships and fellowships for students, building the Biotechnology Center and EMPAC, and construction of new athletics facilities. “Raising this money is essential to complete The Rensselaer Plan,” stated Jackson.
Then, President Jackson announced that next year, most offices and portfolios will have to perform at 90 percent of their current budget, which means there will be a 10 percent budget cut. She said this was necessary in order to proceed with expanding resources for faculty and students, attracting a qualified and diverse applicant pool, continuing the capital campaign, increasing research, and shifting investment strategy.
She added that Rensselaer has more modest financial resources and is more tuition-dependent than other schools. Also, the cost to educate students is much greater than the actual tuition. Most of the rest is paid through philanthropy. Due to these reasons and the high energy costs, the tuition will be increased by 5.2 percent, bringing the cost of tuition next year up to $32,600 for both undergraduate and graduate education. Furthermore, the 5.1 percent raise in cost of living in residence halls will bring the total cost of attending and living at RPI to $45,185.
Although this means some bad news for students, faculty and staff members can rest assured that there are no layoffs planned for 2007. In fact, the budget will provide merit-based salary increases. The Institute will continue to hire more faculty, filling up to 45 positions. Research expenditures are expected to grow by four percent as the Institute continues to receive grants. New academic programs will be introduced, including a Ph.D. program in biochemistry and a concentration in architecture. The latter is currently being reviewed by the New York State Department of Education.
To describe all the changes at Rensselaer and its limited resources, Jackson used one of her favorite analogies: “We are trying to cover a king-sized bed with a twin-sized blanket.” She continued that in the future, she hopes that this blanket will grow to support the king-size bed and more.
Toward that end, President Jackson assured the audience that the Institute is constantly changing and improving itself. She mentioned that the process of growth can be difficult and involve trade-offs and risk. “Look how far we’ve come in a very, very short time,” she stated. “We’re succeeding on many fronts and in some areas, we’re the best. We have to move forward boldly.” Jackson claimed that Rensselaer’s reputation has improved in the past few years. After President Bush’s State of the Union address, Rensselaer was asked by the Department of Commerce to hold a roundtable discussion on innovation and economic development. Jackson was also invited to the White House to discuss the “quiet crisis” with President Bush. She has traveled to China, Hong Kong, and other East Asian countries to discuss such issues and build a network with the businesses, universities, and governments of those nations. She will lead a similar delegation to India later this spring.
Jackson ended her address by announcing the speaker chosen for Rensselaer’s 200th Commencement, retired U.S. Army General Wesley Clark. Clark received his Bachelor of Science degree in Civil Engineering from West Point. He was wounded in Vietnam, receiving the Bronze and Silver Stars. He was also the commanding general during the Gulf War. According to a recent poll, he is among the contenders for the 2008 Democratic presidential nomination. Peter Bohlin ’58 (architect for Apple Stores), Santiago Calatrava (architect for the Summer Olympics in Athens), and Frederick W. Smith (Founder of FedEx), will also be awarded honorary degrees and will speak at the Presidential Colloquy on May 19.
