Financial Plan - Cornell University Division of Budget & Planning

Operating plan – DetailsThe focus of ILR’s operating budget will be to renew itsfaculty by replacing three vacant positions and addingone new position in alternative dispute resolution.During 2008-09, it is likely that the school will recruittwo new faculty with an emphasis on internationalscholarship. The school has also eliminated severalpositions in order to fund new faculty and staff positions,including a new position to increase sponsoredresearch and foundation grant awards as well as positionsto support its public relations and marketingefforts and its fundraising initiatives.In 2007-08, the school received a gift from Martin andLaurie Scheinman allowing it to create the ScheinmanInstitute on Conflict Resolution. ILR also added newcredit-exchange international programs with the EuropeanSchool of Management in Paris and the Schoolof Business at University College, Dublin.A $15 million renovation of the Ives Faculty Buildingbegan in February 2008 and, when completed in May2009, it will mark the completion of a decade-longrenewal of ILR’s facilities. The school is also investing$2.1 million to renew its New York City conferencecenter in mid-town Manhattan that generates nearly$8 million per year in revenue.Johnson SchoolThe Johnson Graduate School of Management (JGSM)is poised to achieve many of the goals outlinedfive years ago in its plan: “Inventing Our Future:2004-2009”. In early 2008-09, the school expects toarticulate the future goals and objectives that willensure that JGSM sustains and enhances its worldwidereputation as a top-ten school of management.The 2008-09 budget includes continued investmentsin the initiatives outlined in JGSM’s current plan.The school remains committed to recruit and retain afaculty who can deliver outstanding instruction andresearch in all areas of modern business. The 2008-09budget reflects a net increase of two full-time facultymembers. In addition, the plan includes salary increasesthat will help JGSM respond to an increasinglycompetitive market for faculty. The budget also providesfor staff growth in a few strategic areas includingcareer services, in order to provide students withaccess to professionals from industry. To ensure thatJGSM retains talented staff, the school has undertakena two-year process to ensure that salaries are appropriatelyaligned with local and regional employmentmarkets.Consistent with JGSM’s strategic plan, the school willcontinue to expand its executive MBA programs. TheCornell-Queen’s Executive MBA program projects a 27percent increase in its incoming class through the additionof new locations and a second section. Applicationsfor the Cornell EMBA program remain strongand enrollment growth is expected in that programalso. While steady enrollments are planned for theschool’s residential MBA programs, JGSM continuesto recruit a highly qualified and diverse student body,which requires additional financial aid, given competitionwith other business schools for these students.JGSM’s Centers of Research, Learning, and Practiceremain key factors making the school unique amongits peers. In 2009, the Center for Sustainable GlobalEnterprise will sponsor a major conference on privatesector-based approaches to sustainability. A directorwill be hired for the Entrepreneurship@Johnson program.The Parker Center for Investment Research willmake additional investments in marketing its worldclassinstruction and research activities as well as theCayuga Fund. Finally, JGSM’s Business of Science andTechnology Initiative will expand and strengthen itsrelationships with industry, academe (in the form ofa developing partnership with MIT), and the philanthropicsector (via funding from the Kaufmann Foundationfor Entrepreneurship).Law SchoolExcellence in teaching and scholarship serves as thefoundation of the Cornell Law School, and it is assuredby the distinction of outstanding faculty dedicatedto educating the most broad-minded and technicallysophisticated future lawyers and leaders. Theschool continues to recruit diverse faculty members toenrich and compliment the existing base of approximately48 full-time and 20 part-time faculty members.The 2008-09 financial plan reflects the addition of 5new faculty members, two of whom are women.International programs continue to be a primaryfocus for the school. Through research, teaching, andscholarly dialogue, the Berger International LegalStudies Program and the Clarke Center for Internationaland Comparative Legal Studies strive to bringa broad interdisciplinary focus to the study of law38