Email This StorySlowing down Baylor 2012 good idea for university
March 9, 2004Staff editorial
Last week, the Baylor Board of Regents announced the findings of the internal investigative committees formed to probe frustrations with the university's direction under Baylor 2012 expressed by disgruntled faculty, alumni and former, and some current, regents.
The editorial board commends the board for taking an honest, objective look at the concerns expressed, such as faculty tenure and hiring practices, the university's relationship with the Baylor Alumni Association and the financial stability of the institution.
The board's recommendations represent a real commitment to healing the wounds in the Baylor community and an attempt to appease those with honest concerns over the university's direction. Of all the concerns voiced, the university's large debt and rapid construction expenses were some of the most alarming.
The editorial board's and others' frustrations over this debt and caution of future financial instability, now seem to be valid arguments, as the university already has implemented significant budget cuts. For this reason, the editorial board supports the board's recommendation to delay Baylor 2012 for three years, giving the university time to regain a more stable financial standing.
In addition, the regents also recommended the administration present a balanced budget by 2005 and hold back on capital expenditures and borrowing. The board also asked the administration to sell the university-owned jet that costs thousands per day to operate.
In the long run, these steps actually should help the university achieve its goals of attaining a stronger academic reputation. For Baylor to continue its march toward that goal, it must rest on a sound, stable financial foundation.
This allows the school to pay faculty adequately, a better financial climate to begin construction projects, the necessary funds to provide needed resources to academic departments and provide scholarships to students.
The regents sent a clear message to President Robert B. Sloan Jr.'s administration: slow down on spending.
And the editorial board couldn't agree more. Everyone shares the desire of more respect and academic prestige for Baylor.
But before we can achieve that, this institution must have its pocketbook in order. As long as the university remains in debt, its academic quality will never rise to the level the administration and the Baylor community desire.
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