Boston University is financially healthy, although it faces the challenges of a continuing weak economy and many other issues that require skilled and careful management in higher education today. CAS is fortunate to benefit from Boston University’s wise management and from our own diligence in wise stewardship of our resources. This required establishing long- and medium-term goals, managing all resources at the College level according to these priorities, overseeing resource management in all units of the College, and being on the lookout for new avenues of cost effectiveness.
At the close of FY 2014, the College achieved a balanced, unrestricted expense budget of just over $109 million. Faculty, staff, and student salaries account for the vast majority of expenditures, and regular operating expenses account for most of the rest. The other major revenue sources available to the College are a portion of the indirect cost recovery generated by federal grant expenditures generated by CAS researchers (almost $2.5 million) and gifts. Thus, the faculty themselves, as well as the many alumni, parents, and other friends who have participated in the capital campaign, are directly responsible for contributing to the financial health of the College. (See Appendix, Budget.)
Annual Report 2013/2014
From the Dean
From recruiting ever-better faculty and students to surging ahead in our capital campaign, academic year 2013/2014 was a year of great accomplishments.
Improving Undergraduate Education
CAS once again attracted our most talented class of undergraduates ever. And we laid the groundwork to serve them even better, offering expanded academic opportunities and a comprehensive first-year experience program with over 500 first-year student participants.
Strengthening Graduate Education
BU and the Graduate School of Arts & Sciences saw immediate, strong results from our new five-year PhD funding model that has increased the attractiveness of doctoral programs.
Enhancing a World-Class Faculty
The quality of a university depends on the quality of its faculty, and hiring the best and giving them a strong start is crucial. In 2013/14, CAS hired 17 new assistant professors and 3 senior professors across the humanities and social, natural, and computational sciences.
Conducting Path-Breaking Research
As the academic heart of BU and its biggest school, CAS’s dynamism is helping propel BU’s recognition as one of the finest research universities in the country. New initiatives including the Center for Systems Neuroscience, BU Initiative on Cities, and Center for Autism Research Excellence are taking our research to new heights.
Deepening Our Global Mission
This year, thanks to a generous gift from Frederick S. Pardee (SMG’54, GSM’54, Hon.’06), we laid the groundwork for the Frederick S. Pardee School of Global Studies, launched in September 2014 and reporting to CAS. The Pardee School builds on the substantial success CAS has had in creating strong global and international studies programs.
Stewarding Our Resources
Boston University is financially healthy, although it faces the challenges of a continuing weak economy and many other issues that require skilled and careful management in higher education today. CAS is fortunate to benefit from BU’s wise management and our own diligent stewardship of our resources.
Nurturing Connections with Alumni and Friends
Boston University and the College of Arts & Sciences have made significant steps in building a framework for alumni to engage with faculty, other alumni, and current students in ongoing learning, discussion, and inquiry. Over 6,000 of the alumni attending BU Alumni Association events around the world were CAS alumni (up 11% over the previous year).
Growing Our Capacity: The Campaign for CAS
BU is in the midst of our first-ever capital campaign, and CAS is well ahead in its progress toward our original goal of raising $100 million. More than 4,300 alumni and many other friends of CAS contributed during the past fiscal year. By the end of the 2014 fiscal year, CAS had received $83.2 million in gift funds through the campaign.
Appendix