Financial Plan - Cornell University Division of Budget & Planning

Operating plan – DetailsThe 2008-09 budget includes the addition of two BMEfaculty, bringing the department’s total faculty to 12.BME plans to fill all 15 new faculty lines by 2010.In addition to BME hires, budgeted 2008-09 expendituresreflect four new faculty lines in the strategicgrowth areas of sustainable energy systems, computationalengineering, biomaterials, and nanoscience.These lines will be funded from reserves in advance ofraising endowed professorship funds.Engineering’s enrollment goals are tied implicitly tostrategic programmatic goals. The college is strivingto double its research funding over a ten-year period.A related goal is the plan to increase the number ofPh.D. students, with significant growth particularlyin the college’s six areas of strategic focus. Projected2008-09 expenses include newly funded Ph.D. fellowshipsand growth in sponsored research graduateassistantships. The new three-semester OperationsResearch in Manhattan M.Eng. degree program in financialengineering is projecting increased enrollmentin 2008-09. Students participate in internships andinstruction in Manhattan during their third semester.This year, the Systems Engineering M.Eng. degreewill offer its first semester of a new industry-targeteddistance-learning degree program. Undergraduate enrollmentis projected to remain at the current level ofapproximately 3,000 students. New gifts and expendituresrelated to the college’s curriculum transformationand new Engineering Teaching Excellence Instituteand the allocation of resources to internationalprograms with India, China, Spain, and France arereflected in the 2008-09 budget.Engineering is one of the leaders in Cornell’s sustainabledevelopment initiative, with the college’s 2008-09financial plan reflecting a newly endowed Croll Professorof Sustainable Energy Systems position, fundingfor graduate fellowships in sustainable energy systems,and development of curriculum and undergraduatestudent projects on energy and the environment.The college is implementing its facilities master plan,which is an extensive ten-year, multi-million dollarplan for new construction, renewal, and renovationof the college’s facilities. The 2008-09 budget reflectsimplementation of elements of the plan, including thesubstantial construction of the Olin Hall mechanicalinfrastructure, safety, and building exterior upgrade; afinalized bid for the design of a Phillips Hall laboratoryaddition and mechanical upgrades; and the completionof the feasibility study, site criteria selection, andconcept design for a new engineering building thatwill replace Carpenter Hall and most of Hollister Hall.Engineering’s 2008-09 plans include funding forthe Physical Sciences Building, which will provideimportant new space for the School of Applied andEngineering Physics. The college has also been planningfor the occupancy of the Weill Hall, which willcontain many of the faculty of the Biomedical EngineeringDepartment, as well as the design for GatesHall for the Department of Computer Science.Hotel AdministrationThe School of Hotel Administration is committedto remaining the number one school in hospitalityleadership education, and continues to focus on threegoals: (a) assuring that it remains the source for futureindustry leaders (which requires continuous improvementof undergraduate and graduate curriculums,specifically the quality of its students’ experientiallearning and international experience), (b) improvingits position as the source for industry knowledge andexpertise, and (c) creating an affordable educationaloption for an increasing global and diverse populationof students. Consistent with those goals, during2008-09, the school will concentrate on (a) an undergraduatecurriculum review and development initiative,(b) a strategic review and development to evaluatethe feasibility and economics of building a muchlarger platform to extend its reach and influence, (c)an effort to capitalize on its global brand name andsecure the revenues needed to support its continuedgrowth and dominance within the hospitality industry,and (d) an implementation of energy conservationand sustainability initiatives for its facilities.The Hotel School consists of 71 faculty (including visitingand adjunct) and 22 other academic professionalstaff dedicated to excellence in teaching, research andservice to an expected 2008-09 student enrollment of820 undergraduate students, 9 MS/PhD students, and60 Masters in Management in Hospitality students (40Ithaca and 20 Nanyang Technological University).The 2008-09 operating plan for the school is $48.7million. Salaries and wages are expected to increase11.3 percent due to the addition of four full-timefaculty as well as other professional and administra-36