Today finishes our two week tour of the 2010 Provost Report. Professor Bill Lenhart concludes:

Williams is in a strong financial situation by virtually any comparison—except with the Williams of three years ago. In the wake of the financial crisis, we have significantly less revenue from endowment and less revenue from gifts. It would be unwise to anticipate endowment growth in the future of the kind we’ve experienced over the past 15 years. Our challenge then is to reduce spending in ways that protect our mission of providing the finest possible liberal arts education and that return us as soon as possible to where, if capital markets remain steady, we can resume growth in our operations each year. This is a goal we can achieve with the continued help of faculty, staff, students, alumni, parents, and friends.

Indeed. Thanks for all the many thoughtful comments during this discussion. Kudos once again to Williams for providing such detailed information.

How much transparency should Williams provide in the future? That’s easy! Just slap up on the webpage whatever material is distributed at Faculty or Trustee Meetings — or, at least 90% of it. Doing so requires (virtually) no extra work since all the charts/tables/slides have already been created. A small portion of the data would need to be kept secret, because of federal regulations, fund-raising sensitivities and other issues.

But if, going forward, Williams were to be as transparent as it seems to have been in this case, I would have little to complain about, at least when it comes to financial issues. Next steps include admissions, grade inflation, course enrollments, and . . .

But, for now, baby steps!

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