Tilghman addressed the immediate future of the University through the lens of fiscal conservation. At the meeting, she spoke specifically about the upcoming fiscal year, maintaining financial aid and the construction of the new neuroscience building and the Arts and Transit Neighborhood.
Unlike other Ivy League schools, such as Yale and Dartmouth, Princeton will not make any additional budget cuts this year due to its relative economic good fortune in 2009, Tilghman said. She attributed the University’s financial success to “acting proactively, by beginning with very conservative assumptions … by essentially assuming the worst case.”
But Tilghman stressed that Princeton must maintain the same fiscal discipline this year as it did throughout the past 12 months.
“I do not want to leave any impression that the happy days are here again,” she said.
Tilghman also highlighted the need to maintain the University’s no-loan financial-aid program. She stressed that financial aid at Princeton must not only be “competitive,” but also guarantee that each admitted student is able to attend.
Though the economic recession delayed many of Princeton’s construction projects, Tilghman said she hopes that work on the new neuroscience building will begin this spring and that plans for the Arts and Transit Neighborhood will be implemented in the next few years. Both projects are contingent upon reaching funding goals.
The new neuroscience building is “shovel-ready,” Tilghman said, noting that there is both academic and financial pressure to begin construction as soon as possible. She explained that construction costs in the United States have decreased significantly recently. She also said that neuroscience at Princeton will be as essential in the 21st century as physics was in the early 20th century and molecular biology was in the late 20th century.
The Arts and Transit Neighborhood will transform the area between Baker Rink, Forbes College and the Berlind Theatre into a “village” of buildings related to the arts. A new facility for the Lewis Center for the Arts and the art museum are included in this plan.
When finally built, the neighborhood will shift the geographic focus of the campus, pulling Forbes and the Graduate College closer to the rest of the community, Tilghman said.
Tilghman also welcomed newly elected USG president Michael Yaroshefsky ’12 to the meeting and acknowledged the recent death of former professor Stanley Kelly, who played a major role in the establishment of the CPUC in 1970.
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