Forum to address finances
Vice President for Finance says Hamline is in 'really strong position' due to diverse portfolio.
Linda Sjostrom
Issue date: 4/14/09 Section: News
Vice President for Finance Doug Anderson will be hosting his bi-annual finance forum on April 16. Anderson will discuss the financial state of the university and present information given to the Board of Trustees in February.
Anderson said Hamline, in terms of financial stability, was doing "better than a lot" of other other universities.
"I think we're in the middle of the pack or the upper-middle of the pack in terms of what we're doing," Anderson said.
Challenges face the university in light of the nationwide recession, including a need to be conservative with enrollment estimates. However, he said that while a potential drop in undergraduate enrollments may impact the CLA, the other schools within the university could help balance the lost revenue.
"This is where I think Hamline's competitively in a really strong position," Anderson said. "Because yes we've been impacted by economic matters-you know, our interest earnings are down and other things are happening- but where we are strong is we have a diverse portfolio of programs."
Overall, he said next year the university expects to gain approximately the same total revenue it earned this year. However, a four and half percent price increase for undergraduate tuition will be included, bringing the tuition cost to $28,862 according to the office of undergraduate admissions.
Anderson said that Hamline's need to adjust is not unique.
"...Fundamentally, everybody's down," he said of the private colleges and universities in the area. However, he said that the university still seems to be in a healthy place.
"The prospect pools, or the students that are interested in applying, those numbers are good. Our admit pools are strong, they're in the range of the quality of the student that we desire to have and that will exceed here at Hamline University."
Anderson said that while the budget advisory committee is still meeting to determine where funds should be reallocated or reduced, the budgeting process should be completed by the end of April.
"...Everybody's kind of waiting right now," he said. "In the next few weeks this is gonna shake out."
The forum will take place from 11:30-12:30 on April 16 in the Kay Fredericks Ballroom.
Anderson said Hamline, in terms of financial stability, was doing "better than a lot" of other other universities.
"I think we're in the middle of the pack or the upper-middle of the pack in terms of what we're doing," Anderson said.
Challenges face the university in light of the nationwide recession, including a need to be conservative with enrollment estimates. However, he said that while a potential drop in undergraduate enrollments may impact the CLA, the other schools within the university could help balance the lost revenue.
"This is where I think Hamline's competitively in a really strong position," Anderson said. "Because yes we've been impacted by economic matters-you know, our interest earnings are down and other things are happening- but where we are strong is we have a diverse portfolio of programs."
Overall, he said next year the university expects to gain approximately the same total revenue it earned this year. However, a four and half percent price increase for undergraduate tuition will be included, bringing the tuition cost to $28,862 according to the office of undergraduate admissions.
Anderson said that Hamline's need to adjust is not unique.
"...Fundamentally, everybody's down," he said of the private colleges and universities in the area. However, he said that the university still seems to be in a healthy place.
"The prospect pools, or the students that are interested in applying, those numbers are good. Our admit pools are strong, they're in the range of the quality of the student that we desire to have and that will exceed here at Hamline University."
Anderson said that while the budget advisory committee is still meeting to determine where funds should be reallocated or reduced, the budgeting process should be completed by the end of April.
"...Everybody's kind of waiting right now," he said. "In the next few weeks this is gonna shake out."
The forum will take place from 11:30-12:30 on April 16 in the Kay Fredericks Ballroom.
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