President’s Message — February 12, 2009

 Dear members of the university community:

 You may have seen an article published by The Miami Herald earlier this week regarding the compensation and retention plan for some of the top executives at the university. 

 I hope you have read Chairman Parker’s statement on this topic. If you have not, please take a moment to review it.  http://newsarchives.fiu.edu/?p=1856

 Budget news from Tallahassee

 As discussed in last week’s budget update, the overall economic condition of the country and declining state revenues, in particular, continue to be of grave concern. This week brings us a warning from State Senator J.D. Alexander, R-Winter Haven: We may see another round of cuts to this year’s budget in March.

 According to Alexander, who chairs the Policy and Steering Committee on Ways and Means, another deficit may need to be declared in March, when the state economists meet to discuss the revenue projections.

 As you know, we did not have to make additional cuts at FIU in response to that state-wide cut earlier this year because our three-year financial strategy anticipated such a reduction. We are considering all options, and, as in the past, we will protect our core and stay true to our strategic, multi-year plan.  We will tell you more about this topic when we have more clarity.

 I have received excellent feedback from many of you regarding your ideas on how we can save money and generate additional revenues. These are most welcome. Please continue to think along these lines and send me your thoughts and ideas to presmail@fiu.edu.

Unfortunately, we are not alone in this situation. This week University of Miami President Donna Shalala announced plans to cope with the economic crisis. Some of the measures include a hiring freeze, elimination of salary increases and expense reduction throughout the institution.

 Our own budget stabilization efforts will be successful only with the participation and emotional investment of everyone in the FIU community. Thank you for your continued commitment to FIU and the confidence you place in our leadership team.

 Modesto A. Maidique

President