The Faculty Senate has proposed a series of budget cuts and revenue generating options to ameliorate the current financial challenges facing GW that do not include the furloughs and layoffs that the administration claims are necessary. Why aren’t these proposals the subject of widespread debate among the faculty?
The university has a $300 million line of credit and a nearly $1.8 billion endowment it apparently does not want to use. But increasing the payout from the endowment does NOT threaten the principle or the long term financial health of GW. Several universities are drawing down from their endowments to address the immediate challenges. Refusing to do so has caused many scholars across the country to ask whether endowments exist to further the teaching and research missions of universities or whether universities now exist to grow their endowments. GW and virtually all universities invest in buildings that they plan to pay off over several years. Why can’t we make investments in our human capital that we will pay off over time in future years.
No doubt there are other options. It is time to have a wideranging debate over the choices that are available.