On November 7, the faculty gathered for their third meeting of the year at Rapaporte Treasure Hall. The meeting featured updates on the university’s budget and development initiatives from Stewart Uretsky, the Executive Vice President of Finance and Administration, and Stephen Rodriguez, the Vice President of Development.
Provost Carol Fierke expressed her gratitude to the faculty for their commitment to The Brandeis Plan to Reinvent the Liberal Arts. “We’re moving swiftly into a new academic vision, and your efforts are helping us achieve that,” Fierke commented. Exciting changes are underway, including the appointment of Lewis Brooks as the new director of the Center for Careers and Applied Liberal Arts.
Uretsky then provided a detailed look at the university’s finances. He acknowledged the sacrifices the community has made, underscoring that the university is focused on sustainable growth. The current budget stands at $415 million, relying heavily on net tuition revenue. While Brandeis is experiencing growth, Uretsky noted the importance of careful resource management.
He discussed the challenges of fixed expenses within the budget, especially concerning infrastructure. Projects like remaking vacant buildings, such as Kutz Hall into the Center for Jewish Life, can lead to unpredictable costs. “We need to adapt quickly to expenses that pop up unexpectedly,” Uretsky said.
Health benefits have risen by 20%, a typical trend nationwide, which Brandeis is managing by absorbing some of this cost. The university’s endowment, valued at $1.4 billion, contributes to about 20% of the total budget but isn’t as large as it should be, according to Uretsky. “It ought to be about 50% larger,” he emphasized, highlighting the complications caused by donor restrictions on how these funds can be used.
In terms of fundraising efforts, Institutional Advancement is actively working on a $750 million campaign. They’ve raised $365 million so far. “This campaign is critical for supporting various initiatives including our endowment and physical projects,” Rodriguez explained. The university aims to maintain strong connections with alumni and potential donors to ensure continued growth.
The meeting transitioned to discussions on handbook amendments. The first amendment, supported by the Committee on Diversity, Equity, Inclusion and Social Justice, was approved with a large majority. This change aims to align the handbook with new legislation and clarify existing policies.
Another proposed change streamlined voting procedures, ensuring clarity in the handbook’s text. Prof. Dan Breen, a member of the committee, explained that refining these processes can help foster more effective participation among faculty in future meetings.
The group went on to discuss amendments regarding tenure postponements, ensuring compliance with the Americans with Disabilities Act. Lastly, a motion was passed to allow faculty from each academic school to be elected to represent their respective areas on the Board of Trustees.
Overall, the meeting was characterized by a focus on growth and clarity, both in terms of institutional strategies and faculty governance. With ongoing efforts in financial management, fundraising, and structural amendments, Brandeis is poised for a promising future.
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