University welcomes Ainslie as new VP for finance and treasurer

Christopher McCrudden, who began his career at the University in 1973 as assistant controller for budget and long-range planning, said in an interview this week, “When I started in the early ’70s, we went through a period. A very difficult period.”

McCrudden, who assumed his position as University treasurer in 2001, said that in the 1970s, the University “had to reduce program sizes, both faculty and administrative services and support” to meet the economic challenges of the time.

With a new economic crisis upon us, Ainslie, who officially started her new job on Oct. 1, already acknowledges the possibility of budgetary sacrifices.

“Campus leaders and I will be focused on the existing plans and the sources of funds to support those plans in the days and weeks ahead to determine if any adjustments need to be made in timing or scope,” she said in an e-mail.

“This is a very high priority,” she added.

Projects that could be affected include the 10-year Campus Plan and the Aspire capital campaign, whose goal is to raise $1.75 billion over five years.

McCrudden reiterated Ainslie’s concerns. “We are now seeing times where I think it’s going to be difficult to achieve our long-term endowment goals,” he said.

Ainslie supervises six main offices: asset administration, budget, controller, operations, payroll, payables and taxation, and risk management. As a board member of the Princeton University Investment Company and a member of the Priorities Committee, she plays an instrumental role in the management of the University’s endowment and operating budget.

“I am still assessing the environment to develop specific short and long-term goals,” Ainslie said, “but my primary responsibility is ensuring the ongoing stewardship of Princeton’s assets in support of its academic mission.”

Ainslie, who grew up near Corning, N.Y., was vice president for planning and budget at Cornell University for a decade before coming to Princeton.

“When I met folks at Princeton and got a sense of the values, priorities and plans,” she said, “I became very interested in the chance to share my skills and experience as well as learn new things and be part of a great organization.”

Leaving Cornell after nearly 20 years, however, was not an easy choice.

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“Opportunities to work in financial management at great research universities don’t present themselves very often,” Ainslie said. “It was a very difficult decision to leave given my long work experience and loyalty to Cornell in addition to my family’s ties to the Ithaca community.”

Nevertheless, Ainslie is eager for the new opportunity.

“I am very excited to be here and the first week has been a whirlwind of activity,” she noted. “I have been energized by the people and plans at Princeton that make it a lively community.”

Long before her professional career at Cornell University, Ainslie set her sights on finance, specifically the area of budgeting.

“I was treasurer of many student and extracurricular activities through high school and college and I have always enjoyed matching resources with plans and ideas,” she said.

McCrudden, whose new position is vice president and senior adviser to President Tilghman, explained the circumstances surrounding Ainslie’s appointment.

“The president and I and other senior people had discussions about the desirability of making sure that I’d be available to my successor for a number of years,” he said. “I’ve been here for 35 years, and we agreed that it would make sense to ensure a smooth transition.”

Ainslie joined the Cornell staff in 1986 as a budget analyst and subsequently served as assistant to the budget director, as budget manager and as budget director before becoming vice president for planning and budget in 1998.