Veritas, Vol. 31, No. 08, January 15, 1991

              For the Faculty and Staff of the University of Miami
January 15, 1991 Volume 31 Number 8
In tough times, budget reflects University’s top priorities
Rising healthcare costs, increased energy rates, computerization of the library, and the cost of operating new buildings are all major contributing factors to the higher cost of doing business at the University in the upcoming year. And while freshman enrollment projections were exceeded for fiscal year 1991, applications for 1992 are currently down 15 percent from the previous year.
With these increasing costs and decreasing growth and revenue, including less money from federal, state, and local governments, it has been necessary to reallocate funds with an awareness of conducting operations as efficiently as possible, according to Provost Luis Glaser. The $580 million budget, which reflects the University's top priorities, was approved by the
Board of Trustees during its December 12 meeting.
“While the overall budget is increasing in order to do our business more efficiently and to recognize the realities of what we do,” says Glaser,
“we needed to reallocate funds because the increased revenues don't cover all the increased costs.”
In order to remain competitive in the national and local markets, salaries are one of the highest priorities. Faculty and staff will get a 4 percent merit increase, with an additional 3 percent increase to meet market conditions.
The dramatic increase in health insurance—and other fringe benefit costs—results in a corre-
Salary increase for faculty and staff	$ 7,935,000	
Computerization of the library, improvements, and acquisitions	$	500,000
Additional student financial aid	$ 3,360,000	
Maintenance cost of new physics and engineering buildings	$	77,000
New student computer laboratory space	$	200,000
Increase in campus security	$	250,000
Residential college improvements	$	200,000
sponding increase in the composite fringe benefit rate equivalent to a salary increase of 6 percent for staff and 3 percent for faculty.
The tuition will be increased by 7.89 percent for undergraduate
Students’ skills match employers’ needs in unique student employment program
When Michael Grad was deciding on which college to attend, he looked closely at financial aid programs.
At the University of Miami he learned about a new student employment program called Miami Commitment that is an alternative to a grant or loan. After being referred by a counselor, he was selected for the new program and began college—and a job—last fall.
This innovative program is designed to help students finance their education while they develop work-related skills. At the same time University employers can be assured of hiring reliable, competent students.
Freshman Michael Grad discusses his job in the admissions office with Sherra Payne, coordinator of the Miami Commitment program for that department.
“This is not only an alternative to financial aid services,” says Grisel Valdes, program director for student employment, “but a
meaningful program structured to assist students to work toward their goals.”
Grad, a psychology major, is one of 140 students participating in the pilot program in 11 departments on the Coral Gables campus. They include financial assistance services, admissions, international admissions, bursar's office, information resources, residential colleges, management department, institutional research and planning, sports and recreation, public safety, and nursing. Each department employs anywhere from one to 50 students.
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and graduate students,
8 percent for law students, and 5 percent for medical students. These are the lowest increases in a decade. The increased funds will go toward salaries and financial aid assistance.
Maintaining the strength of the teaching and research programs is another important factor in the budget.
With input from every school and college in the University, top administration made decisions on how resources could be best put
to use.
“We need to strengthen those programs that are the most important for our future development,” says Glaser, “and at the undergraduate level recognize areas in which student demand is extremely high.”
Other priority areas are library acquisitions, additional student computer laboratory space, campus security, and improvement of residential colleges.
The budget also provides the resources where needed for the development of new programs and for the support of new buildings as they come on line.
E>espite the restraints set by the economic conditions of the 1990s, there is a bright side to the University as it continues to develop.
“We are seeing the results of the successful campaign in our new buildings and in the new faculty brought to the University thanks to endowed chairs,” says Glaser. “The quality of the students applying to all divisions of the University is higher than ever, and we have successfully attracted new leadership for several schools in the last year. The results of these accomplishments are already being felt at the University.”
—Susan May