As state revenue projections began to plummet and a cloud of fiscal uncertainty began to loom over Columbus, University of Toledo administrators chose to exercise caution by further tightening position controls and putting several capital projects on hold. However, after several weeks of discussions with representatives in Columbus and careful observation, the capital projects that were placed on hold are now back on track.
“We have every reason to believe that while we are unlikely to weather current budget discussion in the Statehouse unscathed, we will emerge with the resources available to see these important strategic projects through to completion,” said Dr. Scott Scarborough, senior vice president for finance and administration. “We are moving forward rapidly to get them back on track.”
Three projects are again in motion: the pharmacy building on Health Science Campus, a renovation of The University of Toledo Medical Center’s intensive care unit and a campus-wide wireless Internet project for Main Campus.
The projects are being funded through a $52 million bond.
“In difficult times, great institutions take calculated risks to secure a better future,” Scarborough said. “As difficult a period as this is in our collective financial history, we must continue to move forward to make sure we are prepared to meet the needs of our students and patients tomorrow and beyond.
“These projects are symbolic of our commitment to staying strategically focused on a better future,” Scarborough added.
The Board of Trustees approved the bond measure in 2008 and the operating budget in June. According to Scarborough, an amended budget could be presented for board action, depending on the magnitude of deviations between state funding assumptions and final state allocations.