Trustees see tight finances through 2004

by Sarah R. Buchholz, Chronicle staff

bsent a state budget and amid a worsening economic climate, fiscal challenges and opportunities were the focus of much of the Board of Trustees meeting Wednesday in the Mullins Center.

      Trustee Edward Dubilo, '71, chair of the Committee on Administration, Finance and Audit, reported that the committee "had a very sobering meeting" Oct. 25, at which it considered the "very, very conservative fiscal outlook for 2003 and 2004."

      Dubilo said the University's recent borrowing for much-needed capital improvements could weigh heavily in the new economic climate.

      In his report, Amherst student trustee Jonathan Laubinger said the University should use the forecasted lean budget times ahead "as an opportunity to reaffirm our commitment to excellence."

      Trustee Robert Mahoney, '70, chair of the Development Committee, discussed a pair of efforts to increase fund-raising for the University. The first has involved identifying the top 100 donor prospects for the next 12 to 18 months and making use of the President's Office in approaching the donors. The second, called the President's Appeal, will focus on acquiring gifts of $1,000 or more.

      "I think we can continue to move forward with growth in our fund-raising," he said.

     Mahoney said the President's Appeal will kick off in February and that the committee would like to see "100 percent participation" from board members.

      He said full board participation will strengthen each member's case as he or she approaches alumni for donations.

      "Somebody loan the student trustees $1,000," he quipped, adding that as University graduates, they'd be able to pay the money back soon.

      Mahoney and board chair Grace Fey already have pledged $10,000 each to the effort.