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2006-2007 Financial Report
Thomas Jefferson believed that knowledge should be useful. In an 1813 letter to John Adams, he described the University he was planning to build as a place "where all the useful sciences should be taught." His insistence on the practical aspects of learning was grounded in a pressing necessity: the American Republic urgently needed educated young people who could apply their new knowledge to the governance of the nation. |
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2005-2006 Financial Report
The University's founder was both visionary and pragmatic. With great confidence and ambition, Mr. Jefferson described the institution he created as "the future bulwark of the human mind in this hemisphere." At the same time, he grounded the curriculum in what he called the "useful sciences." He believed in teaching practical knowledge that ordinary citizens could use to organize and govern a Republic. |
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2004-2005
Financial Report
In 1825, when classes were first held in the Rotunda and the Pavilions, Mr. Jefferson (nearly 82 years old at the time, and embarked on the last great adventure of his life) expressed the hope that his new University would prove "a blessing to my own state, and not unuseful perhaps to some others." In the past year, his University has proved a blessing not only to Virginia, but to the world. |
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2003-2004
Financial Report
This has been a productive year. Every member of this community- students
and parents, faculty and staff, alumni and friends - can take pride
in all the University of Virginia has achieved. The Board of Visitors
and the management team worked effectively to launch groundbreaking
initiatives that will provide for immediate needs and reap long-term
benefits for the institution. Together we designed bold and innovative
plans to meet the University's objectives in major areas, including
financial aid, compensation, and research support. The institution,
under the leadership and strong encouragement of its board, has moved
decisively to focus its resources in ways that bode well for the future
of the University. |
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2002-2003
Financial Report
The 2002-2003 fiscal year was a testament to the fundamental strength
and resilience of the University of Virginia. We began the year in
a difficult environment, facing sharp cuts in state funding. By the
end of the year, we emerged as one of only two public institutions
with the top rating from all three major bond-rating agencies, we
achieved a return on our endowment second only to Harvard’s,
and we recaptured our position as the nation’s top public institution
as ranked by U.S. News & World Report. These exceptional
results speak to the hard work of our staff and faculty, the effectiveness
of the Board of Visitors and the management team, and the underlying
fiscal stability and soundness of the institution. |
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2001-2002
Financial Report
These are difficult times for the Commonwealth of Virginia, which
provide the University with a period of challenge and opportunity.
Facing an accumulated budget deficit initially projected to be $3.8
billion by 2004, our elected officials have had no choice but to make
substantial cuts in funding to state agencies, including the University
of Virginia. We are dealing with reductions in state support of historic
proportion. |
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2000-2001
Financial Report
At no time in its history has the University of Virginia been better
prepared to fulfill the aspirations of its founder. The success
of the recent campaign, the strength of our endowment in a volatile
market, the support we attract for cutting-edge research, the effective
management structures now in place, and the extraordinary community
of students and faculty assembled on the Grounds--these and many
other positive factors have enabled us to pursue ambitious goals
even in difficult times. |
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1999-2000
Financial Report
The University of Virginia concluded fiscal year 2000 in an exceptionally
strong operational and financial position. The endowment grew significantly.
We ended the year with good reserves. University operations were
not only efficient, but also effective. The level of professionalism,
innovation, and commitment on the part of our employees rivaled
that found at the most dynamic corporations. Most important, our
academic and health care enterprises flourished. |
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1998-99
Financial Report
Over the last decade, the University of Virginia has successfully
entered the ranks of the nation's premier educational institutions.
We have been able to outpace many of our peers because of the generosity
of alumni and friends combined with support from the state. The success
of our students, the commitment and creativity of our faculty, and
the dedication and professionalism of our staff have contributed to
our standing among the very best universities. |
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1997-98
Financial Report
As we approach the twenty-first century, faculty and staff are engaged
actively in formulating initiatives needed to ensure that the University
of Virginia continues to offer the citizens of the Commonwealth the
finest academic and health care programs of any in the nation. Over
the past decade, the University has cultivated the means and specialized
expertise needed to respond to new challenges and steward resources. |
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1996-97
Financial Report
The University of Virginia is now established firmly as one of the
premier universities in the nation and the world. It is widely recognized
as an exceptional place to both learn and teach, a fact that lends
stability to our academic enterprise and provides a basis for further
excellence. The faculty here is one of the most distinguished groups
ever assembled anywhere, and each successive class of students is
brighter and more talented than the one that preceded it. |
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1995-96
Financial Report
At a time when public resources available for higher education
are limited, we have forged a unique alliance of alumni, faculty,
legislators, business leaders, and administrators that has enabled
us to achieve ever higher standards of quality. We have been successful
in building a financial base that is supported by a broad range
of reliable revenues. |
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1994-95
Financial Report
The 1990s have seen a remarkable resurgence of American Business,
as it successfully restructured and repositioned itself for eminence.
The University of Virginia has been committed to these same practices
consistent with its academic mission, and the results, we believe,
have been similar. Creating a system of streamlined excellence has
been a matter of continuous, collaborative, and synergistic improvement
promoted by every division of this institution. |
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1993-94
Financial Report
At the University of Virginia, we are finding new ways to serve
more students while preserving the qualities that distinguish our
academic programs. We must, first and foremost, teach well. We must
quickly apply the discoveries of our laboratories to society's needs.
Our Health Sciences Center must change the way it delivers health
care. We are being asked, quite simply, to do more -- and do it
superbly -- without the prospect of significant increases in resources. |
