As the academic year speeds by, I wanted to share some thoughts about the state of the college during these challenging and uncertain times. While there are many reasons to feel anxious, I find that I am cautiously optimistic. I feel this way because excellence—especially in overcoming challenges and finding solutions—is what Harvey Mudd College is all about.
 
Of course, like so many colleges and universities across the nation, our budget has been affected by the economic crisis. With the endowment down by 30 percent according to our most recent numbers, we’ll clearly need to raise more money as well as reduce expenses. Thankfully, we are well on our way to a great fundraising year, due in no small part to an historic $25 million gift from Trustee Mike Shanahan and his wife Mary, which will enable us to move forward with the college's Strategic Vision. Still, as we continue our prudent endowment investment strategy, we will need to implement some near-term solutions, such as postponing non-essential capital projects and implementing strategic budget cuts, such as little to no salary increases for faculty and staff. Nonetheless, we are more committed than ever to the excellence of our student educational experience and will continue our momentum toward implementing the Strategic Vision Goals .
 
On a personal note, I am very pleased to share the news that this past January I became a citizen of the United States after working here as a Canadian for the past 6 years. I am delighted to finally become a full-fledged member of this country.

These are difficult and volatile times. But there is one thing I know for sure—it’s a great time to be small and excellent, and it’s a great time to be at Harvey Mudd College.

Maria Klawe
President

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