Departments tighten belts

In what Vice President for Finance Andy Evans called an early warning move, several areas of the College have been asked to cut their budgets by five percent. The move is an attempt to avoid a possible budget deficit for this fiscal year.

Evans stressed that the move was preventative and did not imply a disaster. "It's not a crisis. It's not grim. It's better budgeting," he said.

Last year the College was able to balance the budget by a narrow margin. "It was a lot more difficult to reach a balanced budget last year than it was in the past," Evans said.

Evans said certain areas of the budget, such as employee benefits, made spending higher than planners had expected.

Evans said there are some warning lights going off now that imply a similar situation might take place. For example, he said enrollment was higher among returning students this semester than it has been in the past. More students can mean a greater drain on the financial aid budget, but it depends on their level of financial need.

The budget depends on many factors, including admissions, enrollment, financial aid and staff changes that are not completely predictable, Evans said. Evans said the hold or cut of budget could be reversed in the spring once the Finance Office has a better idea of the College's financial situation.

Evans said the Administration has asked Student Life, the Conservatory and the college to hold off on spending. "It's really a hold, not a cut," he said. "The deans are being asked to look at areas they can hold back on for the time being."

Evans warned against seeing the hold as a sign of disaster. Instead, he argues it is better budget policy to anticipate possible problems and try to avert them early. "I am confident that we will be better positioned to have a balanced budget this year," he said.