Compensation and human resources committee discusses employee benefits and expenses

Posted to Live Blog: February 2009 Board of Curators meeting by Andrea Kszystyniak at 1:37 p.m., Feb. 5, 2009

The Compensation and Human Resources Committee opened session with a brief speech by UM system president Gary Forsee.

Forsee discussed what was to come to UM in 2009 and 2010 and spoke about current university planning to set the stage for the work that will unfold later in the year.

Forsee cited the four biggest financial challenges that are currently facing the UM System. He said the combination of financial shortfalls in both tuition, philanthropy, external research and state funding was a "perfect storm."

"Historically, we've had the ability to attract students to our university at base tuition as well as increase tuition along the way," Forsee said. "We’ve reached the point where enrollment will start to decline."

Forsee said that he has asked the campuses to review their budgets, in hopes of reducing them.

"We have the asked the campuses and the sytem office to continue that budget review process." Forsee said "At some point in time we need to get out of this day to day grind and get back to business. "

Forsee closed his speech with a discussion of faculty benefits, conceding the floor to Betsy Rodriguez, UM Vice President of Human Resources who briefly discussed the expenses of benefits.

Mike Paden, UM Associate Vice President of Benefits gave an update on the Employee Benefits Program, which will operate using a benefits index that Paden will be elaborating on as the meeting continues.