Economic Steps
Monday, January 26th, 2009
Last November, as the economic crisis deepened, the UNM community responded immediately with a reduction in spending and an across the board suspension in hiring, pay hikes and promotions. While not easy, these steps have allowed us to continue our core missions of education and research while preparing to meet the possibility of a legislative rescission of 2008-2009 fiscal year funding.
From what we now understand, these measures have succeeded in allowing us to meet the mid-year revenue adjustments that will likely be contained in the State’s Solvency Plan. This is critical because higher education is our best hope to secure a brighter economic recovery in our state.
UNM employs more than 22,000 people and continues to be one of the most powerful economic engines in our state and in Albuquerque. With the support of the Governor, the Legislature and our fellow citizens, we will continue to concentrate further on our teaching and research missions while keeping tuition affordable.
We are taking the following steps:
- We will reduce non-academic Main Campus administrative spending by 15% over the next three years to concentrate our resources on our teaching and research missions.
- At the same time, we will accomplish a net increase of at least 10 new full-time Main Campus tenure-track faculty positions.
- We will indefinitely freeze executive compensation of the President, Executive Vice Presidents and main campus Vice Presidents, including salaries, allowances and deferred compensation.
- We will develop a comprehensive University-wide policy on deferred compensation, which we will submit to the UNM Board of Regents at the April 2009 regular meeting.
- Through the end of fiscal year 2009-2010, we will freeze all increases in compensation for all Main Campus non-academic administrative staff earning more than $125,000 annually.
We have finalized these steps over the past several days and have shared our intentions with members of the Legislature. I am gratified to receive the following messages of support:
From Sen. Cisco McSorley: “This is a great first step and good news for those of us who have been concerned about executive compensation. The University’s willingness to assess and adjust its business model is appreciated by all.”
From Rep. Larry Larranaga: “Though I had concerns about executive compensation, I am heartened to see that the University is taking the lead and revisiting old policies.”
We are fortunate to have the most dedicated and talented faculty and staff of any higher education institution in the country. Each of you have made and are willing to make significant sacrifices to protect our core missions.
What is most important now is that all of us in the University community redouble our efforts on behalf of our students, and that we join together, as one, to communicate the vital importance and contributions of the University of New Mexico in this increasingly difficult economic climate.

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