Sewanee Takes Stock After Recession of 2009

While hundreds of colleges across the nation are tightening their belts after watching the Recession of 2009 attack their money pools, Sewanee is no different. Fortunately for the University of the South, they have treasurer Jerry Forester cutting costs and forecasting that the school’s overall 1% decline can only get better.

The school has been focusing on cutting what they call discretionary spending, the spending that goes to traveling, professional development, and those who put in overtime. In terms of how this should affect the student experience here at Sewanee, Forester says that there will be no repercussions felt whatsoever. In fact, its unlikely anyone will notice the changes being implemented. For example, last year there were several vacancies in staff positions due to retirees or sabbaticals. Some are still not filled, but he explains that “even in decent times [Sewanee] doesn’t have every job filled.”

In this way, the school is being smart about preparing for what to do if things get worse. “We want to be prepared,” Forester said. Enrollment has been stable at 401 entering the freshman class, and Sewanee has successfully avoided what their peer institutions are experiencing; higher declines in funding, and the need to cut down on student programs.

Marvin Pate, the Sustainability Officer, is one of the ones responsible for making sure the campus is running efficiently. Efficiency here means you shave off needless spending and save more. The current outlook for the treasurer seems positive and Sewanee has definitely not felt the need to stop its campus renovations. If you want some numbers, Sewanee spent 70 million in campus renovations over the past 10 years. About 56 million of this was gifts, and 24 million was borrowed. As for what the numbers are going to be for departmental costs next year, Forester attributes the projected growth in funding and the small decline last year to Sewanee’s investment board. Thanks to them, we simply aren’t in the same boat as the rest of Wall Street’s investors who were pulling their hair, and are definitely bald by now, because of the Recession of 2009.