In the spring of 2009, Princeton University’s provost, executive vice president, vice president for finance and treasury, vice president for human resources, and members of their staffs came together as the Cost Savings Working Group (CSWG) to monitor the effects of the financial crisis, prepare for its impact on the University budget, and to review and pre-approve for the Priorities Committee and Board of Trustees the departmental and central budget reduction plans to meet the University’s $170 million budget savings goal.
Addressing cost-savings goals focused the University on the ways it does business and resulted in a number of areas actually growing stronger from the budget-cutting exercise. Consequently, instead of disbanding the CSWG following the attainment of the $170 million goal, the same group of individuals has continued to meet regularly to support initiatives that will Strengthen University Management and Resources (SUMAR).
The following documents from January 2009 through February 2010 describe the University’s efforts to attain its $170 million budget savings goal and how the economic downturn was expected to affect the institution and its faculty, staff, and students:
President Tilghman's Letters to the Campus Community
Town Hall Presentations