President Hill analyzes economy's effect on Vassar

In an all-campus e-mail on Oct. 27, President Catharine Bond Hill addressed the College's concerns over the current economic climate and its effects on Vassar. In the e-mail, Hill first noted that the endowment, which supports 30 percent of the College's operating costs, lost $80 million in value between June 30, when it was valued at $845 million, and Sept. 30.

At the recent meeting of the Board of Trustees, the Board agreed to remain committed to need-blind admissions and continued maintenance of Vassar's physical plant. However, the College will review capital projects that have not yet begun, such as dorm renovations, to see determine which projects may be postponed or canceled entirely.
In a Miscellany News article on Sept. 25, Vice President for Finance and Administration Elizabeth Eismeier emphasized the importance of long-term renovations, but suggested that economic challenges would delay progress.

Hill hopes to keep the Vassar community abreast of further developments as the College, like many other educational institutions, works through the challenges resulting from the global economic crisis. "As we move forward with these changes and others, we will be working with our existing on-campus governance committees to discuss ideas and we will be communicating regularly with the Vassar community, so that we can move forward collaboratively."

These goals were reflected in a Vassar Student Association (VSA) Council discussion on Oct. 12 in which Council members debated possible cuts and areas of the College that might be streamlined. Introducing the discussion, VSA President Jimmy Kelly '09 said that the College administration had specifically asked the Council to discuss areas of campus that were under-utilized by students and that could be eliminated or absorbed into another area.

Suggestions in the discussion ranged from small-scale cuts in spending to larger changes, such as the elimination of Baldwin's 24-hour health service, while keeping the 9-to-5 services. VSA Vice President for Student Life Nate Silver '10 added, "One thing that [Hill] has really made clear is that the little things really don't add up."

No actual decisions or resolutions came out of this discussion, but Kelly did thank the Council members for their comments, and assured them that their suggestions would be relayed to the administration.