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Office of the President: Blog

Office Hours: Fall reflections

Posted on October 17th, 2008 under Office Hours by Mark Emmert 

VideoUW President Mark Emmert discusses the incoming freshman class, a historic Freshman Convocation with honorary degrees presented to Bill Gates and Bill Gates. Sr., and the upcoming legislative session. Watch the video »

2008 President’s Annual Address

Posted on October 14th, 2008 under Annual Address by Web Admin 

VideoIn his 2008 annual address to the University community, UW President Mark Emmert reflects on the many success from the last year at the University of Washington and anticipates the great things to come. Accomplishments in education, research, grant funding and diversity are just a few of the things he highlights from the 2007-2008 year. And with a new year under way, President Emmert discusses the current economic situation facing our country and UW as an institution.

Watch the video »

Economic Matters

Posted on October 14th, 2008 under State Budget by Mark Emmert 

Dear Members of the University Community:

The state of our nation’s–and the world’s–economy is much on people’s minds these days. The University experienced firsthand some of the effects of the Wall Street investment jitters when we decided a few weeks ago to initiate legal action against Northern Trust of Chicago, the bank that held in custody a significant portion of our investment portfolio. Thanks to some expert work on the part of the University’s Treasury Office and our investment team, we were able to avoid significant loss and are back on track in managing and protecting the University’s assets. The approach the University takes to managing our assets enables us to weather a prolonged period of volatile and uncertain capital markets.

The nation’s credit crunch and its impact on the economy are being felt everywhere, including Washington state, whose economy had been rolling along at a fairly healthy clip. But the effects of the nationwide economic slowdown are being seen and felt here as well, and recent revenue projections in our state have shown that we, too, are in for significantly tighter economic times. We expect the 2009-11 state budget to be under considerable pressure, and we will be working very hard to preserve the University’s budget and fiscal health.

In the meantime, the first signs of the economic slowdown have appeared. Last week, as part of her effort to slow state spending in the current biennium and recapture funds from all state agencies, Governor Gregoire ordered $4 million in further budget reductions from the University and other higher education institutions for the remainder of this biennium (June 30). These reductions are in addition to the $36 million she previously directed state public higher education to save through a hiring freeze. For the University, our total budget reduction from these directives is approximately $10 million from our fiscal year 2009 state general fund budget of $402 million. We will be looking for ways to identify this amount of funding while at the same time protecting the University’s core educational mission.

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President Emmert

UW President Mark A. Emmert is a Washington state native who returned to his alma mater in 2004 with a goal of expanding the institution's stellar national and international standing.