Today in Tampa, University of South Florida President Judy Genshaft met with campus constituent groups, members of the media, and the University Board of Trustees to discuss the university’s response to the statewide budget crisis and the impact it has had on the institution’s funding.

According to Genshaft, USF will experience a 10.9 percent, or $35 million, cut in state funding. But the university knows it must plan for a total cut that may be as much as 15 percent of its state funding because of the likelihood of future cuts mid-year as state revenues continue to decline. [view Presiden'ts Report]

Genshaft charged the CEOs of each of USF's three regional campuses with developing campus-based responses to what she described as "harsh realities affecting the entire state." She also emphasized the importance of financial planning based on USF’s mission and strategic plan.

In Lakeland, CEO Marshall Goodman struck a decidedly upbeat tone, despite the context of the announcements: "Nobody wants to see wholesale cuts to public education, but I am proud of the leadership President Genshaft is providing, overwhelmed by the steadfast support of our campus team, and inspired by the confidence our students and our community place in us every day."

Goodman has indicated that the Lakeland campus will absorb the cuts through a series of cost-saving moves, including job cuts through attrition, strategic staff restructuring, targeted line item cuts, and what he described as "serious belt-tightening across the campus." According to Goodman, the cuts have been planned in such a way as to minimize the impact on students.

The announcements create a bittersweet moment on the Lakeland campus, which is experiencing record-setting enrollment and enjoying a wave of public support in anticipation of the renaming of the campus and an expansion on a site along Florida's High Tech Corridor, at the intersection of I-4 and the Polk Parkway, near Auburndale.

Goodman emphasized that the budget cuts are not expected to impact planning for the new campus. "We have made a commitment to our community and to the state, and we intend to move forward."

Goodman also noted that he expects to announce several major gifts to the campus in the coming weeks. "In my commencement addresses to our graduating students, I often quote the line from Dickens -- 'It was the best of times. It was the worst of times.' In some sense, that is what we face now. We are exhilarated and challenged at the same time, but I am certain we will prevail."