WHEREAS, officials of the State of South Carolina have reported and affirmed to the
public an unprecedented reduction in state revenue receipts resulting from both changes
in state tax policy and concurrent sudden changes in global economic conditions; and
WHEREAS, the S.C. General Assembly, in responding to current circumstances, to date
has directed a rescission of 14.8 percent of Winthrop's appropriation for 2008-2009, equivalent to more than $3.4
million; and
WHEREAS, the respective Boards of Trustees at state institutions of higher learning
are entrusted with the stewardship of their respective institutions through various
changes in state, national and world economic conditions; and
WHEREAS, the respective Boards of Trustees at state institutions of higher learning
are empowered to determine student fees; and
WHEREAS, the Board of Trustees of Winthrop University has examined revised projected
resources for 2008-2009 along side an administrative plan to absorb $3.2 million --
94 percent --of the legislatively ordered reduction in state support to the University
through adjustments to planned commitments for 2008-2009; and
WHEREAS, the Board of Trustees finds the administrative plan both educationally and
fiscally sound in light of current circumstances, as well as sensitive to the financial
constraints affecting Winthrop students and their families; and
WHEREAS, the members of the Board of Trustees recognize their fiduciary responsibility
to ensure that the University's budget strikes a balance between actual resources
and commitments;
THEREFORE, LET IT BE RESOLVED that for Spring 2009, a Partial State Appropriation Reduction Adjustment of $50 be adopted by the Winthrop University Board of Trustees.
November 7, 2008
