Budget Update

December 12, 2008

Dear Friends,

        I want to thank all of you for your resilience and determination in continuing to move the Medical University mission forward, despite these trying times. Your dedication to excellence remains the cornerstone in serving the needs of our state and beyond.

        Today we received word from the South Carolina Budget and Control Board regarding  an additional seven percent in funding cuts to all state institutions. At the Medical University, we fully understand the budgetary constraints created by falling state revenues. Our plan for dealing with the last round of budget cuts included a cushion to deal with an additional five percent in lost state funding, so most of today's cuts are covered by that plan. We will immediately begin the process of exploring additional opportunities for savings.  We are confident that the Medical University will emerge from these current financial challenges as a more focused and efficient organization, especially given the passion and commitment of our faculty, students and staff.