Naropa University Launches Budget Initiative
BOULDER, Colo. (Dec. 7, 2009)—Naropa University’s president announced today that the university is committed to turning the tide in how it builds its budget.
Dedicated to building a fiscally sustainable model for the university in alignment with its strategic plan and mission, Dr. Stuart Lord announced the necessity for budget cuts totaling more than a million dollars.
“The goals of the strategic plan mandate that we move to a more fiscally sustainable model. We must provide a more stable economic environment for the foreseeable future in which to cultivate our bold and ambitious direction for contemplative education. We must act strategically, by taking a prudent and responsible approach to these economic realities.”
The president said his guiding principles will be to preserve the quality of education delivered to students, an exceptional academic experience—one that prepares its graduates for a lifetime of leadership and learning.
Dr. Lord announced the launch of a Naropa University Budget Initiative, to implement some substantial budget reductions during the next budget cycle, with a target of reducing the annual spending by at least $1.2 million, from a $22 million operational budget, for the 2010–11 fiscal year beginning July 1.
Lord appointed Sue Evans, vice-president of business and finance, and Stuart Sigman, vice-president for academic affairs, to work with the University Budget Committee (UBC) to prepare recommendations for cuts by April.
“Throughout the process, we will seek Naropa’s collective wisdom from across the university community, and we will meet with and review all departments, both administrative and academic, for opportunities to reduce costs,” said Lord.
A cross segment of the Naropa community, including faculty, staff and students, will comprise the University Budget Committee, which is being asked to prepare a proposal based on budgets submitted by senior managers. Department heads, Cauldron, department chairs, and the Staff Executive Committee will be invited to suggest budget scenarios and review proposals. A new committee, the Budget Resource Group, composed of trustees, staff, administrators and advisors, will model the financial implications of suggestions, and offer analyses and data to senior staff and the UBC.
This budget reduction may mean a reduction in the number of positions at the university and consolidation of academic programs and administrative services. “The goal will be not just to cut Naropa’s costs, but to improve the way we operate Naropa University in the pursuit of our mission,” says President Lord.
Updates and information about the budget will be posted at www.naropa.edu/budget.
Accredited by The Higher Learning Commission and a member of the North Central Association, Naropa University is a private, nonprofit, nonsectarian liberal arts institution dedicated to advancing contemplative education. This approach to learning integrates the best of Eastern and Western educational traditions, helping students know themselves more deeply and engage constructively with others. The university comprises a four-year undergraduate college and graduate programs in the arts, education, environmental leadership, psychology and religious studies.
Today’s quote is another from the Ninth Khenchen Thrangu Tulku, Karma Lodrö Lungrik Maway Senge, one of the great masters of the Karma Kagyu School of Tibetan Buddhism, whom I previously quoted and did a little biography for here. This is it:
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