Transcript President’s Update – Board of Overseers

GLI
Top Investors and
Executive Committee
Dr. James R. Ramsey
President
November 18, 2009
Economists like pictures and graphs
Some dots and a triangle…
2
Last year was a … of a year!
• Wind
• Ice
• Flood
• Neurosurgery
• Personnel Issues
And of course, the worst economy
since the Great Depression.
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We know that nationally times
have been unprecedented… and who knows?
GDP Declines During Postwar Recessions
(peak-to-trough percent change; date is year of peak quarter)
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3.5
3
2
1
0
-0.2
-1
-0.7
-1.1
-2
-1.4
-1.5
-1.8
-2.2
-3
-2.7
-3.1
-4
-3.7
-3.8
-5
-4.8
-6
-5.7
1948
1953
1957
1960
1970
1973
1980
1981
1990
2001
2008 1st Qtr 2nd 3rd Qtr
2009 Qtr 2009
2009
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U. S. Job Loss
Are we out of the woods yet?
0
-100
-200
-300
-400
-500
-600
-700
-800
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Kentucky has not been immune
to those impacts
Nonfarm employment in thousands
1890.0
Dec. ’07
1872.4
1870.0
Sep. ‘08
1845.0
1850.0
Employment loss
– 4.7%
1830.0
1810.0
State General
Fund loss – 4.0%
1790.0
1770.0
1769.4
Sep. ’09
1758.6
1750.0
Notes:
Employment 2009 < employment 1999
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Kentucky Economy:
Manufacturing – Our Bread and Butter
Manufacturing employment (in thousands)
Sep. 2009
208.9 (p)
p: preliminary
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We (Kentucky) face challenges
• Big challenges
• Structural challenges
• We will struggle for a while – next biennium
budget will be ugly
In the words of that great philosopher, Lily Tomlin,
“It’s going to get a lot worse before it gets worse.”
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Some numbers…
(Depressing, aren’t they)
Year
e – estimate
a – actual
r - revised
State General Fund
(000,000)
FY 08
$8,664.0 (a)
FY09
$9,005.7 (e-budget '08)
$8,548.4 (r-Nov. '08)
$8,426.0 (a)
FY10
$9,417.6 (e-budget)
$8,295 (r-May ‘09)
$8,214.0 (r-Aug. ‘09)
$8,135.0 (r-Oct. ’09)
FY11
$8,315.0 (Oct. ‘09)
FY12
$8,623.0 (Oct. ‘09)
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What’s all this have to do with UofL?
We are expected to help improve
economic opportunity and quality
of life for Kentuckians (HB1 – 1997)
Law has not changed.
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“U of L to be Premier Nationally Recognized
Metropolitan Research University”
“Challenge for Excellence”
(1998 – 2008)
“We met Challenge”
2020 Plan
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The weak economy has an impact on us too…
Kentucky Employment Losses
State Individual Income Tax/Sales Tax
Cuts/Cuts/Cuts
9 for 9
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But no one is…
hanging it up
or calling it quits
just because we are
challenged –
To the contrary…
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Our Students…
• Freshman class average ACT
• 1998 – 21.4
• 2009 – 24.5
• State avg. – 20.8 (19.4)
• National avg. – 21.1
• 24 National Merit Scholars
• More students from outside Jefferson
County than inside
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Why we are getting
the best students…
1.
2.
3.
4.
5.
6.
Commitment to quality
– Our Covenant
Affordable
Small campus experience
– Freshman English classes are limited to 22 students
– 19:1 student/faculty ratio
– Active student advising
Engagement
– 250 student organizations and growing
– Campus
A “research” university
Our Community
– UofL named one of America's Top 25 'Best Neighbors' - #12
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Our Graduates…
• 1998 – 1,734 degrees awarded
• 2009 – 2,428 degrees awarded
– 2020 Goal – 3,074
• Graduation rate
– Increased from 30% in 1998 to 48.4% in 2009
– 2020 Goal – 60%
• Doctoral Degrees
– 1998 – 76
– 2009 – 142
– 2020 Goal - 350
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And while we like our athletic success…
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•
5th Men’s Basketball (‘08-’09 season)
17th Men’s Baseball (‘08-’09 season)
22nd Men’s Tennis (current)
29th Men’s Swimming/Diving (current)
40th Men’s Golf (current)
•
•
•
•
•
•
2nd Women’s Basketball (‘08-’09 season)
11th Women’s Field Hockey (current)
16th Women’s Golf (current)
18th Women’s Rowing (current)
22nd Women’s Swimming/Diving (current)
22nd Women’s Indoor Track & Field (‘08-’09 season)
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How ‘bout these rankings/numbers!
•
•
•
•
•
•
•
•
•
•
•
•
•
#1 World ranking for Cardinal Singers
2nd Percent of growth in Federal Research funding 2001-08
9.5% Increase in transfer students
11th School of Dentistry Research rank
12th Best “Community” Neighbor
13th Medicaid managed healthcare plan
Top 15% Military Friendly School
16th School of Business Graduate Entrepreneurship
20th Entrepreneurship productivity
20th Number of Fulbright Scholars
20th University increase/jump in Business Week public ranking
24 National Merit Scholars in Freshman class
Fast 50 – Jonathan Blue – Louisville’s fastest growing privately held
company
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Our Research…
Research Funding
and NIH Funding
Total grants:
1998 - $42 M
2009 - $140 M
2020 Goal - $400 M
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“From mind to marketplace”
Startup companies (cumulative)
1998
2008
2020 Goal
1
22
34
151
710
1,064
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73
110
Patents (cumulative)
Applications filed
License option agreements
(cumulative)
Note: By 2008, 130 patents were issued, a 136% increase since 1998.
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And our research helps Kentucky...
• The Conn Center for Renewable Energy
Research and Environmental Stewardship
• Argonne National Laboratory
• Cancer Care/Drugs
E.g. Gardasil
• Heart care/research
E.g. Adult Stem Cells to regenerate heart
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Our faculty is critical to
Kentucky’s healthcare…
• State of the art medical care provided by 460 faculty
physicians who are the best teachers and researchers
• James Graham Brown Cancer Center
• University Hospital Level I Trauma Center
• The safety net for the underinsured and the uninsured
– ULH: 21% uninsured normal times; today => 30%
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We are driving the economy…
New arena and other construction projects
Louisville Arena
Center for Translational Research
ShelbyHurst
Haymarket
Since 2002 – over $800 million in capital construction
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We have…
• Been challenged
• Made progress
• Have more to do
And despite challenges, we are focused and
committed.
And we embrace “Idea City”
Louisville will be the idea capital of the world, where
imaginations and individuals thrive
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Keeping the engines running…
4 keys to Kentucky’s future
• Education
• Education
• Education
• Education
The fuel for an economic recovery is educating
Kentucky’s citizens.
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Education Pays
$55,000
Per Capita Income in All 50 States v. Adults
with Bachelors Degrees or Higher
Data for 2007
$50,000
2007
$45,000
$40,000
$35,000
$30,000
$25,000
15%
20%
25%
30%
35%
40%
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Students or Inmates?
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2010 Legislative Priorities
Support CPE Recommendations
• Fund maintenance and operations for current
buildings
• Increase base funding
• Fund additional classroom space
• Keep “Bucks for Brains” alive
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We need your support…
You are our messengers to the
legislators!
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THANK YOU!
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