| Miami University Focuses on Financial Situation |
| Thursday, December 18, 2008 8:35:22 AM - Middletown Ohio |
 By: Tara Kunkle
During Miami University's last board meeting they focused a large portion of it on the school's financial situation. Based on the current projections president David Hodge estimated that up to 100 of their colleagues might lose their jobs. Hodge stated that their are three vulnerabilities that continue to produce uncertainty; the investment envroment, state support and enrollment.
The main concern for Miami is for student success. Hodge does realize that it is hard on families to get their kids going to college. The board president Richard Smucker announced that at the previous meeting Hodge's annual performance evaluation was really positive. The president's contract the board can choose to pay him a bonus for exceptional performance which is up to 20 percent of his annual salary.
Vice President Jayne Whitehead also stated that the For Love and Honor campaign reached $346 million. That is near the original goal which was $350 million. The current revised campaign goal is $500 million by December 31, 2010. It is to early to tell any trends since the commitments have slowed considerably. As of right now the number of endowments is the same as of last year but the annual fund has dropped $659,000.
The department of mathematics and statistics has been approved for dividing into two departments that will begin at the next academic year. The creation of the new statistics department will let Miami pursue initiatives including efforts to promote quantitive literacy across campus.
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