dateline ANDOVER
At the Fall Trustees’ Meeting… Meeting on October 30–31, 2008, the trustees focused not only on the immediate and speculative effects of the global economy, but on long-term planning to secure Andover’s future. That future includes an ambitious fund-raising campaign: • The board approved a $310-million goal and a full slate of fund-raising priorities in support of students, faculty, programs, and campus facilities. As of October 31, the campaign nucleus fund stood strong at $164 million. • The name, “The Campaign for Andover, Building on The Surest Foundation,” was adopted, which acknowledges the lasting impact of the previous campaign (Campaign Andover, The Surest Foundation), as well as new philanthropic momentum that will bridge generations and ensure an even stronger Andover. In terms of immediate action to lessen the strain on the current fiscal year budget: • The board received a plan from Steve Carter, chief operating and financial officer, that calls for mid-year adjustments to achieve new savings for FY09. • The administration was asked by trustees to work with the finance committee to plan for FY10 by looking at all major expense and revenue lines for potential savings. In other business: • Amy Falls ’82, chief investment officer, reported that in the face of the volatile economic climate she remains confident in the Academy’s long-term investment strategy. “We come at this [crisis] from a position of strength,” said Falls. “This is the time when it really counts, and experienced people make a difference. Our managers are the best in the business.” • Jane Fried, assistant head for enrollment, research, and planning and dean of admission, reported that her team is responding to the global economy with a strong, broadbased recruitment plan that includes the full support of Andover’s need-blind admission policy. Preliminary applications are up, compared to the same time last year, as are attendance at events and interviews on campus.
Board of Trustees President Oscar L. Tang ’56 and Charter Trustee Steven C. Sherrill ’71 share a thoughtful moment between meetings in October on the Andover campus.
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