WHEREAS, officials of the federal government and the State of South Carolina have reported and affirmed to the public unprecedented fiscal challenges as a result of the COVID-19 crisis; 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 Board of Trustees of Winthrop University has examined revised projected resources for Academic Year 2020-21 alongside an administrative plan to address the resulting budgetary challenges; 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 BE IT RESOLVED that Board authorizes the university administration to take the steps necessary to cut expenses including through the implementation of a furlough plan. The furlough will provide options in addition to other cost saving measures, to address these financial challenges in a way that maximizes the University’s ability to continue to perform its critical educational mission.
APPROVED, this 25th day of August, 2020
