 | Board of Visitors minutes October 8, 1983 |  |
REPORT ON THE UNIVERSITY CAPITAL CAMPAIGN
The President reported to the Board that the Capital Campaign, with a goal of 90 million dollars is progressing well. He said that we already have received 85 million dollars in gifts and pledges.
Vice President Marion B. Peavey expressed satisfaction with the Campaign thus far, but he warned that there is much hard work to do. He said that though some categories of giving have been generously treated by donors, we are far short of our Campaign goals in such important areas as construction of a new hospital, a rare books library, and additions to the Life Sciences building, the School of Commerce and Engineering Research areas. He pointed out also needs for Jefferson Scholar endowment, Miller Center for Public Affairs endowment, and other areas.
He noted that we are now conducting area campaigns and that we must communicate priorities in giving patterns. He said, as he thanked the Board Members for their intense efforts on behalf of the Campaign, that there is tough work ahead. The Rector said that he anticipates that an additional 40 million dollars must be raised.
The President warned that the 10 million dollar loss of appropriations we have experienced as the result of State budget cuts is not in any way helped by the success of the Campaign, since these cuts affect areas of expenditure outside the scope of the Campaign objective. He cited as examples that because of the budget shortfall we must increase class size and leave faculty positions open. Funds from the Campaign cannot be used to alleviate these problems.
| Board of Visitors minutes October 8, 1983 | |