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Dear Colleagues,<\/p>\n
Over the past decade, Hudson Valley has had a very good run with enrollment increasing by 48%. As a result we have been able to accomplish much in updating our physical plant, expanding our academic programs and enhancing services to our students. Yet, at our last All College meeting I indicated that the \u201cstorm clouds are gathering\u201d and, as predicted, we will not be seeing significant enrollment growth in the coming years, nor will we see significant increases in funding.<\/p>\n
Hudson Valley is not immune to the demographic and economic pressures, and we need to adjust to the changing times. Our sponsor contribution has not increased in 11 years, and State Aid has been cut by 22% (or $5,674,000) in the last three years. Until now, enrollment and tuition increases have allowed us to thrive without significantly impacting the operations of the college.<\/p>\n
Earlier this summer, I met with Senior Staff to review our enrollment projections and the impacts upon the College\u2019s 2011-12 to 2014-15 budgets.\u00a0 Although the 2011-12 Budget contains an increase in tuition of $300.00\/yr, this increase does not offset the revenue losses experienced by the College. As such, it is anticipated that the College will fully expend its Reserve Fund of $5,000,000 this year. Consequently,\u00a0 the projected reduction in enrollment, coupled with state and local funding challenges, has resulted in the College\u2019s need to reduce budgetary funding levels for 2011-12, and there will be a need to minimize budget growth in future years as well.<\/p>\n
The following decisions and actions are necessary and are being taken with careful consideration for maintaining our exceptional learning environment. I would like to thank Senior Staff for their leadership, advice and insights as to how we can best address the fiscal constraints facing Hudson Valley.\u00a0 I would also like to express my deep appreciation to the entire Hudson Valley community for all that you have done and continue to do to ensure that we remain one of the premiere two year colleges in the country, even in these difficult times.<\/p>\n
The current budget situation and prospective budget challenges will be addressed in greater detail at our scheduled All College Meeting on September 19, 2011.\u00a0 I encourage all of you to attend.<\/p>\n
Sincerely,<\/p>\n