The Board of Visitors unanimously approved a $1.44 billion budget for the 2002-03 fiscal year at its June meeting, in spite of a significant decrease in state funding.
This was the Board's first meeting with its four new members, which Gov. Mark R. Warner appointed in April. Three of the new members replaced appointees of former Republican Gov. James S. Gilmore III who were up for reappointment and one replaced a member who had served his maximum two terms.
Among the salient topics at the meeting were Virginia's ongoing budget crisis, which has cut state University funds by $25 million dollars.
According to the 2002-03 budget proposal, state revenue to the University has steadily decreased over the last 17 years, dropping from 27.1 percent in 1985-86 to only 10.3 percent in 2002-03.
"There has been a tremendous change over the past five years," said Leonard W. Sandridge, University executive vice president and chief operating officer. He cited the increase in out-of-state students, who do not receive subsidized money from the state, as one reason for the drop.
The Board was able to approve the billion dollar budget due to a number of generous gifts as well as increases in tuition, which have made up for some of the cuts in state funding.
Aside from looking at the operating budget itself, the Board also focused on the possible faculty problems in relation to budget cuts.
Warren M. Thompson, one of the four new Board members, expressed concern that the salary freeze enacted after budget shortfalls may tempt faculty to seek employment at other universities.
Sandridge said this was not a critical problem at the moment, describing the administration's attitude as "concerned but not panicked."
"There is no evidence of a serious exodus," he added.
Also at the meeting, University President John T. Casteen III voiced his support for the bond bill passed by the Virginia legislature in February, which would contribute $98.2 million to frozen University projects pending voter approval in November.
"I will be as much on the road as needed ... to get the voters," Casteen said.
Board member Terrance P. Ross also expressed his support, pending a detailed analysis of the bill.
"I think it's a no-brainer that we should support this referendum," he said.
Along with Thompson, New York physician Edwin Vaughan Jr., Alexandria venture capitalist Mark J. Kington and lawyer Donald R. Pippen of Wise made their debut at last week's meeting. Each of the four new members said they were enthusiastic about their new appointment and voiced specific issues they wished to bring to the table.
Vaughan, who graduated from the University Medical School in 1965, said he wanted to be attentive to the perspectives of all the Board members.
"I try to listen more than I talk," said Vaughan. "For an educator that's always hard."
As the only physician on the Board, Vaughan said he hopes to bring a perspective on health care procedures to the discussions.
"My interest, obviously, is in health policy," he said. "I want to bring comparative data from other academic health care centers."
Thompson also was enthusiastic about his new position after the first two days of the meeting.
"I'm very impressed by the efficiency with which the Board operates," he said. "The leadership is strong."
Along with veteran board member Elsie Goodwyn Holland, Thompson is one of two black members on the Board. While he said he was strongly interested in African-American affairs at the University, he stressed that this was not his only concern.
"I think I was put on the Board by the governor because of my business background," he said. "Do I have a personal concern about African-American students? Yes."
Thompson added that this is not necessarily different from his concern for any other body of students.
Kington, who holds an M.B.A from the Darden School, said being on the Board has given him a new perspective on how the University operates.
"You fully appreciate the size and complexity of an institution like this," he said, citing the hospital and the University's generally high demand of excellence as examples.
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