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Trimming the fat
The story, at first glance, is a familiar one these days: a precipitous drop in endowment, an increase in financial aid applications and a projected budget shortfall that runs in the millions. The interesting twist however lies in Boston University's response to the downturn. Rather than increase tuition, the university has decided instead to carefully review operating expenses in an effort to permanently cut costs. As a part of this review, the university will assess the 200 or so centers and institutes which now find their home on campus to determine whether or not they promote BU's mission. Trustees at other institutions should follow this example and undertake a financial review of operations, taking a particularly close look at the various centers on campus to see if they justify their cost.
Posted by David Azerrad on January 14, 2009 at January 14, 2009 04:41 PM
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