REGENT ISSUES
What are the duties of the Regent?
The Regents establish policy in areas such as personnel, campus development, student fees, admissions,
and financial aid. The duties of The Regents include overseeing the financial management of the University,
its investments, and its property holdings as well as appointing the President of the University,
campus Chancellors, Directors and Officers.
Selecting the university's president is the most important function of the Board of Regents.
The taxpayers are the owners of the university and the regents, being the voice of the taxpayer,
need to be be sure their selection represents that collective voice.
Where do you stand on tuition increases and public funding for higher education?
As a business owner, I know that you have to live within your means. In business, the free market dictates if you increase the price for your product your market share and number of sales will likely go down. I believe in zero-based budgeting. It is simple math: revenue vs. expenditure.
As much as we would love the University to continue to increase its services and update facilities, pay higher wages or hire more people, we cannot expect the students to pay the price for extravagance. The incoming students need to know that there is a commitment to keep their tuition increases within the rate of inflation. If we plan to spend more, as a Regent, I would demand to know where the revenue is going to come from first - not the other way around. If our expenditures continually increase faster than our revenue then some decisions need to be made. Either we find more resourceful ways to increase revenue to cover costs or we prioritize our expenditures and stop spending on the lowest priorities. We cannot try to teach an impressionable crowd of students to be responsible while acting irresponsibly.
The University is not supposed to be a profitable entity. There are a finite amount of resources it can generate from students and state subsidies. As those subsidies decrease or fluctuate - it is incumbent upon us to find ways to make up that revenue or reduce our expenditures. Charging students more isn't the way to increase revenue.
Finally, the University of Michigan cannot remain competitive with huge tuition costs that the regents dictate. Rising costs have been passed on to the students and tax payers. This has to stop. We cannot go the way of the automobile industry. We cannot price ourselves out of the competition of acquiring the brightest and the best. Technology transfer and philanthropy are prime avenues we need to continue to develop. Regents must come down from the ivory tower and speak out so that taxpayers know whom they are and what they are doing to accomplish these goals. The reason regents are elected, as opposed to being appointed, is to create accountability to the public. I have been involved in all of the universities fundraisers for past twenty-five years and I have learned that participation in these events is critical and a regent should expect to actively participate in them as a function of their employment.
What is your campaign platform? What are you focusing on to run for the Board of Regents?
In these difficult times - that is an easy answer: financial, financial and financial.
Cost of education: As I stated above, a University cannot ask students to shoulder the brunt of the impact from receiving less dollars from the State of Michigan. The state will not be there to make up the deficiencies in the budget and double digit percent increases time and again is too much to ask of anyone; especially those who are just starting in life. 76% of the student body comes from a family who earns less than $100,000 a year. And, while many may rely on grants and scholarships, we are creating a class of students who will desperately need the education they earn at U of M just to pay off their student loans over the next 20 years.
As a business owner and a person who has a checking account, I think we need more voices on the Board who understand the limits of spending and the prioritizing necessary in times of financial distress, mismanagement or inefficiency. If the University of Michigan continues to charge more, we will effectively price out the very students we are trying to attract.
Alternative Revenue Streams: How can we become more competitive in the private and corporate communities. Across the nation, we are beginning to see partnerships with educational institutions and the private sector. The university of Michigan has a long and distinguished roll of alumni that have excelled in their chosen professions. There are certainly opportunities to leverage the existing relationships the University has with the private sector to generate additional resources.
Also, we need to pay attention to the commuter campuses which are still a bargain in Flint, Saginaw and Dearborn. We need to grow and maintain these metropolitan campuses not treat them as stepchildren. They offer a great education - offer accessibility to many minorities and socially and economically disadvantaged. I will be an advocate for them as well. The greater these satellite extensions to the University perform, the greater our opportunities will be to advance alternative revenue drives to a larger sphere of students, alumni and supporters.
Michigan's economy: The University of Michigan is the third largest employer in the State of Michigan. The success or failure of the University has a direct impact on all of our lives - and vice versa. This past year, we found that Michigan has one of the lowest rates of young people possessing a college degree in America. With a $4.9 billion dollar budget, it is essential that we have more individuals on the Board that are cognizant of the cyclical nature of revenue streams and the demanding nature of expenditures; and their overall impact on the State of Michigan. The University is not in a fish bowl where it only affects itself. And, as a taxpayer, I want to make sure that the public dollars that are being spent to subsidize this institution are being properly spent. With partnerships and programming at satellite campuses, renewing and solidifying our relationships with our alumni and supporters, the University of Michigan has the ability to have a bright and sustainable future. With proper stewardship from the Board, the President, faculty and staff - we can insure that we have a premiere educational facility in our State that is respected and known throughout the world.
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