Local News

Meredith makes changes to balance budget

Posted November 9, 2009

— Enrollment is up, but the value of the endowment fund is down at Meredith College.

In a letter to faculty and staff Monday, college President Maureen Hartford said the endowment fund lost 21 percent of its value in the last fiscal year. At the same time, expenses for overhead and financial aid continue to grow, she wrote.

The school has budgeted for $1.4 million less spending in the coming year, including offering retirement incentives to some faculty.

Students, faculty and staff are invited to comment on the budget proposal on Wednesday at forums from 9 to 10 a.m. and 3:30 to 4:30 p.m. in Kresge Auditorium.

Other changes at the school are part of a long-term financial plan, Hartford wrote. The college had already decided to increase student-faculty ratio to 12 to 1 and eliminate three majors and five full-time faculty positions.


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  • candoitlikeme2 Nov 10, 2009

    whatelseisnew, should there not be any financial aid...period.. for any student.. or higher learning facility?

  • archmaker Nov 9, 2009

    sure, both the apartments and the soccer field cost plenty of pretty pennies. it also kept local people employed as they were designed and built. the apartments will be rented and eventually pay for themselves. the soccer field brings the kind of amentities that donors appreciate in a college. colleges think long term and this isn't meredith's first recession.

  • drjones74 Nov 9, 2009

    That soccer field cost a pretty penny too...

  • nandud Nov 9, 2009

    They shouldn't have built those apartments out there in the middle of the field....

  • whatelseisnew Nov 9, 2009

    Drop the financial aid. If they want to go to school, then they need to pay the cost.

  • Slip Kid Nov 9, 2009

    That sounds unfortunate at Meredith. I wonder if any of our politicians can make sense of this? After all, if 535 people decide to spend it in Washington DC, they will find somewhere.... ;)