Transcript President`s Update – Board of Overseers

Weekend College 2009
Dallas, Texas
August 1, 2009
Thank you
Mitch and David and Keith
We were warned…
Home of
2,396 alums,
97 students in 2008 and
3 incoming Freshmen this fall
“It was the best of times,
It was the worst of times.”
- Charles Dickens
We know that nationally times have
been unprecedented…
GDP Declines During Postwar Recessions
(peak-to-trough percent change; date is year of peak quarter)
0
-1
-2
-3
-4
-5
-6
5
1948
1953
1957
1960
1970
1973
1980
1981
1990
2001
2008
1st Qtr
2009
-1.8
-2.7
-3.7
-1.5
-1.1
-3.1
-2.2
-3.8
-1.4
-0.2
-4.8
-5.7
And Kentucky has not been immune
to those impacts
(Nonfarm employment in thousands)
Dec. 2007
1,871.9
Oct. 2000
1,833.6
Jun. 2009
1,774.2 (p)
Jun. 2003
1,777.6
p: preliminary
6
Kentucky Economy:
“The Biggest Problem We Face”
Manufacturing employment in thousands
Jan. 1999
308.3
Jun. 2009
207.0 (p)
p: preliminary
There are challenges
Kentucky Employment Losses
State Individual Income Tax/Sales Tax
Cuts/Cuts/Cuts
9 for 9
Options
• Throw in the towel – give up on mandates
• Limp along
• Remain focused/committed and passionately
committed to our task
So while we all face challenges…
We will never lose
sight of our mandates!
U of L to be Premier Nationally Recognized
Metropolitan Research University
Our Mandates
1996
Boyle Report
1997
Post Secondary Education
Improvement Act
1998 – 2008
“Challenge for Excellence”
“We met Challenge”
2020 Plan
Our 7 Strategies to Achieve Mandates
Given Fiscal Environment
1.
2.
3.
4.
5.
6.
7.
Reengineer operations
Convert underperforming assets to fully
performing assets
Increase fundraising
Enhance clinical income (460 physicians)
• PPP
• University of Louisville Hospital
Develop partnerships
Improve contract research/commercializing
Being creative (e.g. TIF)
And so…
• $105 million in cuts, savings and efforts to find
money to move forward
• Big things
• Refinanced debt
• Self-funded health insurance
• Little things
• Washing windows
• Power-down vending machines
Dataseam – avoiding new costs
Note: Three cancer drugs in clinical trials
Our Partnerships
Enhanced food service
Student Housing – The Province
Siemens Energy Audit
$51,367,489
$61,511,069
$95,000,000
$86,571,870
$64,476,596
$42,382,805
$36,382,594
$42, 434,018
Ramping up Giving
Building Clinical Income
Outpatient Center
And we are making progress…
Our Students
• Freshman class average ACT
• 2008 – 24.4
• 1998 – 21.8
• State avg. – 20.8
• National avg. – 21.2
U of L Graduates
• 1998 – 1,734 degrees awarded
• 2009 – 2,428 degrees awarded
– Up 39% (694 students) since beginning of
reform
• Graduation rates are up to 45.7%
• 7 Fulbright Scholars in 2009
• First time more students from outside
Jefferson County than inside
Making Kentucky a better place
Research Funding and NIH Funding
Total grants for 1997 – 2009 - $140 M
Investing in quality at U of L
The Conn Center for Renewable Energy Research and Environmental Stewardship
Community/Economic Development
New arena and other construction projects
Louisville Arena
ShelbyHurst
Haymarket
We have been and will be challenged,
but we are intensely focused!
4 keys to Kentucky’s future
• Education
• Education
• Education
• Education
We need your help!
And finally!
How ‘bout those Cards!
Women’s Sports
Men’s Sports
Basketball – Big East Runner up
Big East Tourney Runner Up
NCAA #3 seed
Final Four!
National Runner Ups!
#2 in nation
Basketball – Big East Champs
Big East Tourney Champs
NCAA overall #1 seed
#1 in Nation Final Poll
Elite Eight
#5 in Nation
Track – D’Anna McCarty NCAA Champ!
Golf – Top 25
Softball – Top 25
Tennis – Top 25
Golf – Top 15
Track – Big East runner up
Track – Big East Champions!