Word: fas
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...cutbacks published on the FAS Web site amount to $77 million in projected savings—a third of the total $220 million projected annual deficit that FAS administrators hope to close by July 2011. The cuts will be made over the next several months...
...first step in a two-part plan to make up the budgetary shortfall. The second stage—branded “reshaping” by Smith—will attempt to close the remaining $143 million gap over the next two years by overhauling the structure of FAS, though professors say they continue to be confused by what the concept means...
Today’s cuts are the culmination of a process begun last December, when Smith urged departments and administrative units to draft proposals listing possible cost-cutting measures to make up an economic shortfall then projected to be at least $100 million. FAS units identified more than $90 million of possible savings, and $77 million worth of cuts were selected for implementation, according to Smith...
...past when faculty requested new projects, the FAS would often engage outside professionals to design preliminary planning and engineering documents. Often, this occurred as part of feasibility studies and prior to any formal project approval. Going forward, outside professional services will only be engaged after written authorization to proceed with a project has been secured. There are two rationales behind this new approach. First, the FAS will now only spend its resources on designs that will be implemented. Second, this signals a shift to instead drawing on the University’s significant internal design competencies. These bright and creative...
...light of the dramatically altered financial landscape, FAS has scaled back its capital ambitions to match the new economic reality. Relative to the capital aspirations from one year ago, FAS has reduced the capital plan for the next two years by more than 50 percent. Only projects that are cash-funded or critical to the maintenance of the FAS’s primary mission – such as essential life-safety upgrades and expenditures associated with faculty recruitment – will be funded in the near term. That said, FAS will continue to reinvest in its nearly...