Washington College has experienced a period of financial stress for some time, due to parallel declines in enrollment, revenue per student and total revenue. The impact of the Covid-19 pandemic on college operations in 2020 has added urgency to addressing these long-term challenges.
As such, the Board of Visitors and Governors (BVG) charged the College with making significant reductions in expenditures on the academic side to address structural deficits. Clearly no one relishes being charged with such a mandate. However, given the circumstances, we have a responsibility to identify the appropriate reductions in services, with a focus on those that do not affect the student experience, but instead positively position us for strategic growth on the other side.
A number of fiscal reductions have already been enacted to help the college reshape its structural budget, including furloughs, RIF’s, the elimination of staff positions, senior staff salary reductions, benefits reductions and other smaller items. But additional actions were still required in order to bring the budget into balance.
Therefore, members of the senior administrative team have met regularly, worked with faculty representatives, received input from many faculty members, communicated regularly with the leadership of the BVG, reviewed governing and personnel documents, and consulted with legal counsel to weigh various options and arrive at a decision as to what those cuts will be.
These reductions have been unanimously endorsed by the Executive Committee of the Board of Visitors and Governors. The plan has been formally announced to the Washington College faculty and staff and is effective immediately. The entirety of the reductions will take two years, but these actions do permanently resolve the current structural deficit, and position the College for long-term fiscal health, normal operations, and growth.
Ignoring our general financial stress – particularly in light of the extra pressure created by a national health crisis – simply will not make it go away. Hope is not a plan, but taking thoughtful steps to navigate through this and re-evaluating all facets of our services is. We are confident that these are the right decisions – however painful – at the right time.
We have every reason to remain optimistic about the future of our beloved institution, but the way forward requires that we confront our present reality, embrace the opportunity to reimagine our offerings and begin to rebuild in such a way that guarantees that we can continue to provide the finest liberal arts experience possible for generations to come.
Freeman Dodsworth says
It would have been better to announce what the specific cuts were, rather than referring to their seriousness and then leaving an ominous silence.
Adam Kopp says
What are the specific cuts and how is it affecting students faculty administration.
For example, are there cuts to research extracurricular activities, etc. ?
Andrew Manos says
In response to the points below- things are shifting in real time.
Tonight’s zoom led by WC Leadership with alumni was thoughtful and as transparent as can be giving we are all operating on unsteady ground regardless of the business environment anyone operates in 2020. WC has to make tough decision in a tough climate. Landgraf had limited info to work with early in COVID and he did he best.
Here are a few pieces of WC bedrock that have and will remain moving forward (and happen to be massive strength in the college world and locally for Chestertown).
1. A primary driver of the strength of a college is its endowment. Washington College’s endowment relative to its peers is incredibly strong ($200M+, huge for such a small school, check it out; and on the market financial investors is a a safe bet compared to the large number of no or low endowment colleges and universities that have sprung up with no legacy, no history, and no endowment to find the almost inescapable debt its used to build a “beautiful campus”.
2. Look at all the 2020 rankings of colleges and universities in the USA Today. Notice how WC has improved its ranking on virtually every publication and every facet of evaluation across the gambit of analyzed metrics. How could this happen with a declining college?
3. I have personally witnessed the academic rigor strengthen, the sports landscape successes expand, the history continue to gain global recognition, the legacy of George Washington’s investment and authenticity shine, the culture of strong writing and research deepen, the networks of this small idyllic college on the shores of the Chester River reach all corners of the globe, and The Shoremen family bring it home everyday and every way you’d want your family to be treated in a foreign place welcome you.
We appreciate our place in this community and we are stronger together. We need to continue to Work Hard because is Pays Off!
Go WC! Go Shoremen! Go Chestertown!
Barbara Jorgenson says
What are those “significant reductions in expenditures on the academic side”? Our community would like to know the details and how these might impact the new higher academic ratings WC just received from national rating services. WC is an important and prestigious part of our community. We are all concerned about WC’s continuing academic excellence and its financial viability.
heather pollack says
As a parent of a prospective our of state student, it would have been nice to know the specifics around the cuts or how it would potentially impact students.