 |
March
17, 2003 |
Rensselaer’s 2003-2004 Budget
- Rensselaer’s budget for Academic and
Fiscal Year 2004 enables the university to continue to invest
in people, programs, and platforms and to transform the vision
of The
Rensselaer Plan into reality.
- • Direct research expenditures are projected
to grow by 7 percent. A portion of this spending reflects a
backlog of available research dollars, while new award spending
is expected to be flat.
• Overall, operating expenditures,
including support for Rensselaer Plan initiatives,
are expected to grow by 9.1 percent. This provides additional
funding for Institute initiatives supporting the Plan, including
hiring, merit salary increases for faculty and staff, “employer
of choice” compensation initiatives, and significant increases
in fringe benefits costs, utilities, and financial aid.
• The major campus construction projects continue on track,
as does the Institute’s commitment to capital renewal
and deferred maintenance.
Faculty Growth
A key to our plans lies in the growth of the faculty, in its
absolute size, in the quality of its research, and its commitment
to leading-edge education. Next year’s budget continues
the most ambitious growth of Rensselaer’s faculty in memory.
- • Exclusive of the constellations, next
year’s budget plans to bring 40 new tenure/tenure-track
faculty to Rensselaer. Fifteen of these will be in newly created
positions.
• Adding these to the hires made during this year and
last, the numbers grow to 104 new tenured/tenure-track faculty
positions, including 49 in new positions.
• We also will continue to bring constellation faculty
to Rensselaer. Dr. E. Fred Schubert joined us in September,
and Dr. Robert Linhardt will be here in July. At this point,
we are planning at least six new constellation faculty members
for the coming year.
South Campus Projects
The major projects on the South Campus create platforms for
growth. During the coming year, we expect to:
• Complete construction, commissioning, and initial
start-up of the Biotechnology and Interdisciplinary Studies
Center. The building will open for the fall 2004 semester.
• Complete the new 510-car parking garage (opening for
the spring 2004 semester) as well as the new boiler plant
and other infrastructure associated with the South Campus
projects.
• Complete design and begin construction of the Experimental
Media and Performing Arts Center (EMPAC) next fiscal year.
EMPAC programming also will begin this coming year, ramping
up to the opening of the building. As the building takes its
physical shape, EMPAC will initiate projects, residencies,
and performances that, after the opening, will expand into
the new building.
-
Capital and Deferred Maintenance
Projects
Next year’s budget includes $32 million in additional capital
investments designed to enhance the physical and information infrastructure
that serves as the platform for growth in people and programs.
Together with $34 million in capital projects this year and last,
this brings the investment to $66 million. This is in addition
to the funds committed to the major construction projects.
A focus for investment next year
lies in continuing upgrades to student residential facilities
and other student life projects. This will complement investments
in academic and research facilities, many of which are being made
in association with new faculty hiring. We will continue to tackle
deferred maintenance projects, and we will continue to make our
campus and neighborhoods safer and more inviting to their residents
– many of whom are our students – as well as for the
faculty, staff, and visitors who come to campus each day.
- Among the planned capital projects
are:
- • Residence hall renewal:
Crockett, Hall, and Nason renovations; Commons elevator; various
sprinklers, roofs, doors, windows, carpeting.
• Other student life: Field House hockey dashers; Robison
Gym heating; Beman Park firehouse renovation for the student-staffed
ambulance; 901 Peoples Avenue renovation for graduate housing;
planning for ’87 Gym; East Campus.
• Academic and research: Upgrades in Walker, Sage, Greene,
Jonsson, Rensselaer@Hartford; fit up of the Biotechnology and
Interdisciplinary Studies center; extension of gigabit network;
new voice mail system.
• Additional deferred maintenance: Fire alarms; West Hall
bridges and soffits; Sage, Low, Jonsson, Robison Pool, Tech
Park roofs.
• Campus and neighborhood initiatives: Additional lighting
and call boxes; parking gates and controls; Hartford garage
maintenance; neighborhood renewal initiatives; Burdett Avenue,
Sherry Road, College Avenue streetscape projects.
Tuition and Enrollment
The FY04 budget is funded, in part, by a modest increase in
tuition that enables Rensselaer to provide a world-class technological
education while maintaining competitiveness with peer institutions.
- • The tuition rate for
full-time undergraduates and graduate students will increase
4.9 percent to $27,700.
• The price of housing and participation in board programs
will rise an average of 2 percent, but rates will remain flat
for all food programs and for all residences except Crockett,
Hall, and Nason, which will be renovated.
• Next year’s budget continues full support for
graduate students to whom we offer teaching assistantships and
institutionally supported research assistantships.
• Tuitions for resident part-time students will be $1,320/credit
hour for new students and $1,210 for continuing students. Hartford
and RSVP tuitions will be $942/credit hour. These are planned
transition increases as they approach the rate for new part-time
students in 2005.
• The Rensselaer Plan calls for a total undergraduate
enrollment of 5,000. To achieve this goal requires a freshman
class of 1,200, which is 14 percent higher than last fall’s
class enrollment.
• As we transition to fully supported resident graduate
students, the number of fully enrolled graduate students remains
constant at 1,000. Because of the elimination of the degree
completion registration option, the total number of resident
graduate students is anticipated to decline as planned. Education
for Working Professionals program enrollments also will be rebaselined,
as planned, as these offerings transition to high-end “signature”
programs.
- Achieving these enrollment targets
will be important to fund fully budget initiatives for the coming
year.
-
- Moving Forward in Uncertain
Times
We are confident that despite uncertain economic times we can
meet our goals with rigorous planning and financial discipline.
- All Institute portfolios have
directed funds to their most important purposes and to the maintenance
of competitive merit increases for faculty and staff. All portfolios
have built a set of contingency plans and budgets in case of
an unexpected setback in enrollments, research, or gifts. For
the third year in a row, all portfolios have focused on the
Institute-wide priorities articulated in The Rensselaer
Plan.
|
