Update on College Finances: A Message from President Mills
Story posted February 09, 2009
February 9, 2009
To the Bowdoin Community:
After careful consideration, deliberation and discussion, the Board of Trustees on Friday enthusiastically endorsed the recommendations of the "Blue Tarp Committee" aimed at helping Bowdoin reach financial equilibrium.
No one can predict with precision how or when the current economic crisis will end, or the economic effects that may result. But as I explained in my message to the College community on January 22 — and as we have discussed together in campus meetings since then — these measures should allow us to preserve the outstanding quality of our academic program, avoid layoffs, maintain our facilities and grounds, and sustain our commitment to financial aid and to the enduring values that define Bowdoin.
The steps we will take are intentionally flexible. Should conditions change significantly in the months ahead — whether in a positive or negative manner — we will reconvene our committee of faculty, students, and staff. But for the time being, the Trustees and I believe we are acting in ways that are prudent and adequate to meet the current challenge.
I am grateful for the thoughtful deliberation, generosity, and creative thinking that have gone into this effort by so many members of the College, especially the faculty, staff and students on the "Blue Tarp Committee." I am also grateful for the genuine spirit of shared sacrifice that has been adopted by our Bowdoin community. This spirit will serve our community well during these times and will likely have enduring value in the life of the College well afterward. As we pull together to confront effectively a new economic reality, I remain confident that we will do what is best for each other and for Bowdoin.
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