RADFORD – The Radford University Board of Visitors today approved another title to President Penelope W. Kyle’s expansive resume: Professor of Business Law.

The faculty in the Department of Accounting, Finance and Business Law initiated the process, which was endorsed by the department chair as well as the dean of the College of Business and Economics. President Kyle has a Juris Doctorate from the University of Virginia School of Law and a Masters in Business Administration from the College of William and Mary.

“I have been delighted to support the faculty members in their resolve to honor our President with tenure and academic rank,” said Dr. Faye Gilbert, dean of the College of Business and Economics. While tenure does not include additional compensation, Gilbert noted, “Her record and accomplishments add value to our faculty, and it is a mark of great respect for the faculty to request that this honor be bestowed.”

In separate action, the Board approved President Kyle’s plan to address the 5 percent budget reduction mandated in October by Governor Tim Kaine in response to decreased state revenues.

In developing the reduction plan, which translates into a $2.5 million cut for the University, the President’s Cabinet worked with deans, directors and department heads.

“Our guiding principles were to preserve the core mission of educating our students, continuing the implementation of our long-range Strategic Plan, 7-17, and providing these services as efficiently as we can,” said President Kyle.

Since 76.3 percent of the Educational and General budget is tied to personnel costs – and the state funds 51.3 percent of that amount – any state-mandated budget reduction impacts staffing levels. Under the Governor’s mandated 5 percent reduction, $822,975 in savings will be realized from organizational restructuring, eliminating positions, and delaying the filling of some positions. This plan does not call for any layoffs.

Another $1.67 million will be captured from reducing operating expenditures, improved business practices, and applying the bonus redistribution from the Tuition Moderation Fund, a state program to reward universities for not increasing in-state undergraduate tuition by more than 4 percent.

This latest budget reduction is in addition to the 5 percent reduction that was mandated by the Governor’s Office in 2008 and carried forward into fiscal year 2009. Strategies are being developed to align the fiscal year 2009-10 budget with another round of state-mandated reductions that will be announced in December.

The Board also adopted four criteria relative to the University entering into memoranda of understanding requesting additional operational authority to manage its information technology and procurement affairs more efficiently and effectively. These approved criteria include:

• Radford University’s Small, Women and Minority (SWaM) Plan, which gives small, women-, and minority-owned businesses an increased opportunity to do business with the State.
• Rules Governing Procurement of Goods, Services, Insurance, and Construction by a Public Institution of Higher Education of the Commonwealth of Virginia.
• Radford University’s Information Technology Strategic Plan that ensures the Division of Information Technology’s priorities are appropriately aligned with the University’s Strategic Plan, 7-17.
• A resolution delegating duties and responsibilities under the memoranda of understanding for Level II operational authority.

The next regular quarterly meeting of the Radford University Board of Visitors will be held February 4, 2009, in Richmond.