By Gennifer Delman

As the recession of the late 2000s has caused financial strains on American’s wallets, many have come to question how exactly the economic crisis has affected the University-what with college tuition high and rising and all

One observation which must be addressed is the University’s hosting of a variety of noted speakers. Where is the funding for Anderson Cooper, Michael Barone and other speakers coming from?

According to University Relations, students should be aware that speakers are not paid for by their hefty tuition bills. Actually, the $3.5 million endowed Peter S. Kalicow Center for Presidential Studies is in charge of booking, showcasing, and paying for many of the lectures as part of the grand themes of Educate ’08 and Define ’09. Other presentations are paid for by specific departments within the school, as well as through fundraising and savings.

The Kalicow Center, as well as University Relations, are two of the major campus organizations that have helped to create such a politically active atmosphere around campus with those themes. As Vice President of University of Relations, Melissa Connolly can testify that these programs helped to “enhance campus life, Hofstra’s reputation and students’ pride.”

Connolly explained that the event costs are budgeted well, and are even often negotiated for much less than even half of speakers’ projected fees. Some speakers, she said, have even agreed to speak for free. She added how “very fortunate” the University is for the opportunity to have such a wide array of acclaimed speakers come to address students and faculty, as it has truly helped to shape the University’s positive reputation.

But still, students wonder, where does their tuition money go? Unlike many other private institutions, the University does not depend too heavily on endowments. The University’s components of revenue come the most from net tuition and fees, followed by auxiliary enterprises (such as housing fees), investment income, contributions, government grants and contracts, sales and services of educational departments and an additional small percentage from other sources. President Stuart Rabinowitz will give a detailed report of the precise data from 2008 in the annual report in the University Magazine.

According to the 2007 issue of Hofstra University Magazine, a broad overview of the expenditure components is as follows: Most money is spent on professors, instruction and classrooms; followed by academic support, student services, auxiliary enterprises, such as residence halls, institutional support, such as Public Safety, public relations and computer labs; then administration.

Compared to 2007 data, the University’s budget this year has increased from a 69.8 percent reliance on tuition to 77 percent. Connolly explained that the University is “more tuition dependant than we would like,” but that it is working on building a stronger emphasis on fundraising and endowment growth.

Connolly reassured that the financial condition of the University is very strong right now and that the budget is “conservatively managed,” as attested to by known third party rating agencies, including Standard & Poor’s (S&P) and Moody’s.

Amidst the recession, University administration and faculty met six months ago to decipher what could be cut out of the budget and what could wait. The vice presidents from several departments were able to cut $5 million out of expense lines, without taking funding away from major University necessities, such enriching the student atmosphere (i.e. Define ’09 or those dazzling tulips outside). Political Science Professor Richard Himelfarb observed specific cuts for furniture, faculty travel and department expansions.

Contrary to what many have heard, there is no “hiring freeze” at the University. Connolly explains that the hiring method right now is more of a “wait and see” process. Therefore, it would make sense that there has been an increase in full-time professors and a reduction in adjunct ones.

The budget is more than stable enough to account for other projects such as the proposed ready-by-2011 medical school, increased international recruitment to diversify the campus and increased relief funds for students with economic hardship. The medical school is currently going through the proper accreditation process and has a curriculum and set of faculty already in place. Himelfarb applauded the impressive medical school progression, mentioning that any halting or discontinuation of the project would “cause irreparable damage.”

In the following months, Connolly said, the budget will receive a five percent increase in tuition, which she pointed out is in line with or lower than past University standards.

On a positive note, however, Connolly said there has been a massive spike in applications, resulting in the highest application numbers in University history. There has also been, she said, an enormous increase in campus visits, which Himelfarb also noticed had “overwhelming attendance.”

More exact figures concerning the incoming class size will not be available until the upcoming summer months. Admissions’ deadline for deposits was Friday, May 1 and Connolly said she keeps in close contact with those [who work] in admissions. She said that while most days “look good,” for the incoming class numbers, it changes everyday.

Himelfarb still wondered, “Are people going to come? Are people coming back?”

In a response to that question, look no further than President Rabinowitz’s State of the University Address from February.

“Hofstra’s hosting of the third and final presidential debate and the creation of a school of medicine…has garnered national attention for the University and will produce lasting benefits in the years to come,” he said.

(Vamvakias)