Amid recession, IU budget makers should be commended

IU is saving more than $55 million this fiscal year through various cuts, some of which include no salary increases or performance bonuses for faculty or staff in the upcoming year and slashing University-funded travel in half.

While no institution enjoys making budget cuts, we think IU was able to preserve funding for its most important elements and commend the University’s effort to leave no one out in the cold.

Full-time employees making $30,000 or less, for instance, will receive a one-time supplemental bonus of $500. Additionally, the Bloomington campus has increased undergraduate financial aid by about $15 million; beneficiaries are to include students from low-income families and those who were exceptionally high achievers in high school.

Neil Theobald, IU’s vice president and chief financial officer, told the Indiana Daily Student that spending will also be increased to cover expected rising costs of health care for faculty and staff.

While it is difficult to be positive when cuts are indeed being made, it is important to realize that universities across the country are all facing the same dire budget situation and making similar monetary lacerations.

Making cuts without a huge tuition increase while still providing financial aid and bonuses to lower-income employees is laudable.

IU has been able to avoid the endowment fiascoes currently being suffered by many big-wig institutions like Harvard, which is dependent on funds generated by its endowment for over one-third of its operating budget.

And our officials have also been able to semi-successfully navigate a volatile financial environment without slashing funds for the many facets of IU that we all hold dear.

Budget cuts are never easy, but overall IU dealt with hard economic times in a satisfactory manner.