In his 2008 annual address to the University community, UW President Mark Emmert reflects on the many success from the last year at the University of Washington and anticipates the great things to come. Accomplishments in education, research, grant funding and diversity are just a few of the things he highlights from the 2007-2008 year. And with a new year under way, President Emmert discusses the current economic situation facing our country and UW as an institution.
Presidential Blog
Economic Matters
Dear Members of the University Community:
The state of our nation’s–and the world’s–economy is much on people’s minds these days. The University experienced firsthand some of the effects of the Wall Street investment jitters when we decided a few weeks ago to initiate legal action against Northern Trust of Chicago, the bank that held in custody a significant portion of our investment portfolio. Thanks to some expert work on the part of the University’s Treasury Office and our investment team, we were able to avoid significant loss and are back on track in managing and protecting the University’s assets. The approach the University takes to managing our assets enables us to weather a prolonged period of volatile and uncertain capital markets.
The nation’s credit crunch and its impact on the economy are being felt everywhere, including Washington state, whose economy had been rolling along at a fairly healthy clip. But the effects of the nationwide economic slowdown are being seen and felt here as well, and recent revenue projections in our state have shown that we, too, are in for significantly tighter economic times. We expect the 2009-11 state budget to be under considerable pressure, and we will be working very hard to preserve the University’s budget and fiscal health.
In the meantime, the first signs of the economic slowdown have appeared. Last week, as part of her effort to slow state spending in the current biennium and recapture funds from all state agencies, Governor Gregoire ordered $4 million in further budget reductions from the University and other higher education institutions for the remainder of this biennium (June 30). These reductions are in addition to the $36 million she previously directed state public higher education to save through a hiring freeze. For the University, our total budget reduction from these directives is approximately $10 million from our fiscal year 2009 state general fund budget of $402 million. We will be looking for ways to identify this amount of funding while at the same time protecting the University’s core educational mission.
Office Hours: The environment
In the final Office Hours of 2007-08 school year, UW President Mark Emmert talks about creating the new College of the Environment and the accomplishments of our faculty and students this year. Watch the video »
Office Hours: Update on current issues
In his first Office Hours video of the new year, UW President Mark Emmert talks about the 2008 legislative session, Campaign UW and moving into the UW Tower. He welcomes your thoughts and comments. Click on “Post a comment” or send an e-mail to pres@u.washington.edu. Watch the video »
Office Hours returns for fall quarter
In his first Office Hours video of the new academic year, President Mark Emmert celebrates the UW’s many achievements in 2007 and talks about the cycle of renewal that begins each fall. He elaborated on those themes and more in his recent annual address and welcomes your comments.
2007 President’s Annual Address
In his 2007 annual address to the university community, UW President Mark Emmert focuses on two basic questions: How is the University doing? And, where is it going? After recognizing some of the accomplishments and challenges of the previous year, he discusses some of the key issues to the university’s future, including providing a rich learning experience for its students as well as its efforts in global health and on issues related to the environment and sustainability.
Office Hours: Preserving Our Environment
In the last Office Hours video of the quarter, UW President Mark Emmert discusses preserving the environment for future generations and some of the things the UW is doing to address the challenge. He welcomes your thoughts and comments. Watch the video »
Office Hours: Report on the 2007 Legislative Session
UW President Mark Emmert recaps the 2007 session of the state Legislature and talks about how it will impact the UW’s budget for the next biennium. He welcomes your thoughts and comments. Click on “Comments” above or send an e-mail to pres@u.washington.edu. Watch the video »
Office Hours: The Importance of Federal Funding
The University of Washington leads the nation’s public universities in federal funding for research and is No. 2 overall – second only to Johns Hopkins – among all universities. In this month’s Office Hours video, President Emmert discusses the importance of federal funding for the UW. He welcomes your thoughts and comments. Watch the video »
Tragedy from Abroad
As my plane landed in Hyderabad, my phone rang. Before we had finished taxiing to the gate, I heard the shocking news from Gould Hall. I was stunned.
Whenever I travel, especially abroad, I have in the very back of my mind a nagging sense that some emergency could occur, some political flare-up, some personnel issue or some such thing. Never have I imagined the horror of Monday.
I spent the night—Seattle’s day—on the phone and on email tracking events and responses, frustrated by my inability to do more. But as all unfolded, I realized how well our people—our community—were handling matters. With each conversation I heard the compassion and professionalism of everyone. It is in a crisis that we see our true sense of community. From all I can glean from this distance the UW community is rallying around those in need.
In the coming days and weeks, we will have time to assess what more we can do for our people, but for this moment from a very long distance, I am glad we have a university of so many strong, compassionate professionals and friends.
My thoughts are with Rebecca Griego and her loved ones, and I am very anxious to fly out this evening.